In today’s article, we’ll be discussing the top ways in which technology is impacting procurement. From automatic document generation to collaborative scoring and real-time analytics, incorporating technology into your procurement decisions has the potential to speed up and streamline your workflows. Used effectively, manual and often time-consuming tasks can be automated, allowing your teams to focus on the more strategic elements, including supplier relationship management, innovation and sustainability.

When it comes to outsourcing, organisations face the decision of which of their operations to keep in-house and which will be provided by an external service provider.

As a software service provider, we recognise the important role cyber security plays in both ours and our clients’ success. Gaining our ISO27001 accreditation in 2020 was an essential first step in ensuring we were able to provide security and reassurance when handling our customers’ data. But our quest for excellence in this aspect hasn’t stopped there.

The term digital transformation has been around for a while now and most small to mid-sized companies would be forgiven for thinking it was a process reserved for only large organisations. However, in most cases, this most certainly isn't the case.

The majority of companies are investing big in technology. At least that's what the 2021 PwC’s 24th annual CEO survey reported: 4,446 CEOs from 89 countries and territories responded that more than half of them will increase their digital investment by 10% or more in the next year – the biggest spending increase than any other category.

As Head of Innovation at Alder Hay Children’s hospital, Dr Iain Hennessey says he has achieved more innovation in one year of the pandemic than the previous ten years put together.

Emerging technologies consistently present new opportunities for Procurement to adapt for their own working practices – especially when it comes to helping improve processes, increase traceability, reduce costs and automate laborious activities.

More than a year into the COVID-19 pandemic, corporate buyers and procurement professionals, in general agree that digital and remote interactions are here to stay according to research and analysis conducted by McKinsey & Company.

A recent survey conducted by Amazon Business with 250 B2B buyers and procurement professionals found that 91% (nine in 10) prefer e-procurement over traditional purchasing.