To deliver on an ever-broadening set of objectives in today’s uncertain market, procurement teams must work smarter and more strategically. Technology is approaching an inflexion point and is about to take procurement with it. Cognitive technologies and artificial intelligence (AI) hold great promise to both free capacity and bring actionable insights to one’s fingertips. The future has rarely looked so exciting.
But none of these great promises can be achieved unless businesses address the critical underlying foundation: data quality. For smart procurement tools to work buyers need data that is complete, accurate and comparable across multiple systems, and ready to be worked on without further processing.
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