JULY 20196 Working in close collaboration with the operations and finance teams, the procurement department has emerged as the critical element of business planning and execution. The procurement arena has witnessed numerous changes in recent years, and 2019 promises more innovation in this domain. An array of digital technologies, data analytics, machine learning, artificial intelligence (AI), and robotic automation today dominate the procurement expanse. Businesses aim to reduce the burden of indirect spending by leveraging finance automation technologies such as Procure-to-Pay solutions where the contract terms are negotiated beforehand. AI technologies supplant various iterative tasks with large-scale automation of different procurement functions. This agility enables companies to minimize the spend on assets and operations and increase return on technology investments. More importantly, these developments lead to informed decision making and faster process execution.The cloud technologies are adding value to procurement by helping the professionals reduce the expenses wasted on excessive inventory and infrastructure maintenance. The savings can be channeled back into business development while the operations teams can better focus on value delivery to their customers. However, to make the most of the current procurement technology investments, companies need to harness a rich pool of procurement professionals who are not only adept at using modern technologies but also have a strong understanding of the intricacies involved in the procurement. In this edition, industry thought leaders and subject matter experts bring insights into the ever-changing contours of the procurement function. A list of the top procurement solution providers should help you in finding the right technology partner to augment your procurement performance. Let us know your thoughts. Annie Johnson To subscribe to APACCIOOutlookVisit www.apacciooutlook.comArt & GraphicsAmelia StewartFlynn SmythToby LangtonJie Ch'angManaging EditorAnnie JohnsonEditorialProcurement as the DifferentiatorSenior WritersLane Adams Clara MathewRoyce D'SouzaEditorialAlfred MardinLouis BeckerRachael ClarkRoy ChowDai ShihKenny PeruzziCopyright © 2019 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.JULY - 11 - 2019, Volume 05 - Issue - 31 (ISSN 2644-2876)Published by ValleyMedia Inc.*"Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff"Emailsales@apacciooutlook.comeditor@apacciooutlook.commarketing@apacciooutlook.comContact usPhone: +1 510.996.5168Fax: 510-894-8405Annie JohnsonManaging Editoreditor@apacciooutlook.com
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