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How AI is shaping the future of indirect procurement
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The rise in digital transformation has led to a massive increase in data as the systems used at a company continue to grow. In fact, the 2019 Deloitte Global CPO Survey showed that 59% of CPOs believe analytics in procurement will have the most impact on their businesses over the next two years. As data grows exponentially, procurement leaders today are dealing with: Increasing data complexities Poor master data quality The inability to generate analytics...
1. New Data Insights Several new insights were added to Xeeva Spend Analytics, including: Item Quality This insight displays the quality of the item data that was received from a customer’s ERP, AP, and other internal systems that track indirect spend data. This insight also shows which items were cleansed by the XVA Platform, Xeeva’s rule-based AI engine. Item Enrichment This insight compares the quality of the item description that exists in a customer’s internal...
The industry is flooded with numerous software solutions, and it is not easy to select the best tools to serve your business needs. Choosing the right solution is a critical decision and knowing your criteria before getting too deep in decision making is a huge benefit. Here’s a 5-Step Approach on how to choose a software package for your business. 1. Business Roadmap: Once the business owner decides the roadmap of the business, the market, and the target customers, how the business solution is going to impact...