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Generative AI Augmenting Digital Procurement Tools
Digital transformation of the procurement value chain has been growing for years. With the advent of generative AI, enterprises can further automate transactional procurement processes and improve decision-making for strategic sourcing processes. Specialist procurement tool vendors have already started to integrate large language models and GPT technology into their solutions to facilitate digital procurement transformation. This research byte explores the potential of generative AI in the procurement value chain and how specialist procurement tool vendors are leveraging this technology to improve the potential of their tools.
September, 2023
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Procurement Business Process Transformation 2022 RadarView™
The Procurement Business Process Transformation 2022 RadarView™ assists enterprises in identifying strategic partners for their procurement business process transformation by featuring detailed capability and experience analyses of leading service providers. It provides a 360-degree view of key procurement service providers across practice maturity, domain ecosystem, and investments and innovations, thus helping enterprises in evaluating leading players in the procurement business process transformation space. The 58-page report also highlights top market trends in the procurement business process transformation space and Avasant’s viewpoint on them.
September, 2022
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The Evolution of Procurement: Bringing Resilience and Agility in a Time of Disruption
The procurement business function has traditionally been cost-focused. However, supply chain disruptions from recent global crises have shown the need for a more agile procurement process. CPOs are responding by planning for inflation with advanced purchasing, using AI to find alternate sourcing options to deal with disruptions, and even personalizing the requisition experience for all employees to look more like e-commerce. To meet these evolving demands, enterprises are increasingly turning to service providers to transform their procurement functions. Service provider procurement business process transformation revenue grew by 13% between March 2021 and March 2022. These trends and others are covered in our Procurement Business Process Transformation 2022 RadarView™ .
September, 2022
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Procurement Business Process Transformation 2021 RadarView™
The Procurement Business Process Transformation 2021 RadarView™ assists organizations in identifying strategic partners for digital procurement transformation by featuring detailed capability and experience analyses of leading service providers. It provides a 360-degree view of key procurement service providers across practice maturity, domain ecosystem, and investments and innovations, thus helping enterprises in evaluating leading players in the procurement space. The 60-page report also highlights top market trends in the procurement outsourcing arena and Avasant’s viewpoint on them.
September, 2021
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Getting Control of Spending on Wireless
Over the past five years, businesses have greatly increased their use of cellular phones and wireless email devices. But many organizations exercise little control over these expenses. This article provides practical tips for getting control of and reducing the costs of wireless services.
October, 2005
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How to Plan for New IT Equipment Acquisitions
Whether you are purchasing or leasing IT equipment, there are many issues to consider in the acquisition process. This article examines the various decisions required in this process, briefly examines the pros and cons of purchase versus lease, and provides a high-level outline to ensure that the decisions made will deliver sound economics and flexibility for the organization.
October, 2003
Procurement
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