Cognitive Procurement – Leveraging Machine Learning for Smarter Purchasing

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I think it’s safe to say that digital transformation made substantial changes to how we approach procurement. Procurement is no longer just about cost savings and supply chain efficiency; it’s about strategic value and data-driven decision-making. Cognitive procurement, at the intersection of AI and procurement, is reshaping the way businesses approach their purchasing processes, moving […]

Why Vendor Management is Essential for IT Cost Savings

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The rapid advancements in the Information Technology (IT) sector have brought forth a myriad of solutions that organizations can leverage. However, managing costs effectively remains a tough challenge to beat.   In this environment, effective Vendor Management emerges as an indispensable tool for ensuring significant IT cost savings. This article illuminates the vital role Vendor […]

Building a Culture of Continuous Improvement in IT

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In the dynamic realm of Information Technology (IT), stagnation is not an option. The IT landscape is perpetually evolving, driven by relentless innovation and rapid technological advancements.   To maintain a competitive edge, organizations are recognizing the necessity of instilling a culture of continuous improvement—a commitment to perpetually assess, iterate, and enhance their IT processes, […]

Predictive Analytics in IT: Forecasting Future Costs & Needs

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One of the critical tools empowering organizations to anticipate future challenges and opportunities is predictive analytics. This advanced analytical technique uses historical data, statistical algorithms, and machine learning to identify the likelihood of future outcomes, providing IT departments with a telescopic view into their operational future, particularly concerning costs and resource requirements. And, let’s be […]

Tail Spend in Procurement: What is it and Why Should You Care

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In the intricate landscape of procurement, it is common to fall prey to sneaky non-strategic expenses —usually known as ‘tail spend‘—which can quietly nibble away at a company’s finances. These minor yet cumulative costs often evade the attentive gaze of procurement and finance professionals, resulting in unseen financial leakage and missed savings opportunities.   Characterized […]

The importance of Cybersecurity in Cost Optimization Strategies: Unmasking the Top 5 Hidden Costs of Data Breaches

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The 21st century has ushered in a transformative digital era. In the last year, over 65% of global enterprises have invested heavily in digital transformations, from cloud migrations to adopting sophisticated software-as-a-service solutions. While this digital expansion certainly opened doors for global collaboration and efficiency, the opportunities for cyberattacks have never been higher. Beyond the […]

The Digital Transformation Journey: From Traditional IT to Modern Cloud Solutions

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Digital transformation is more than just a buzzword; it represents a seismic shift in the way businesses operate and deliver value. But have you ever wondered how businesses made the leap from traditional IT infrastructures to the boundless cloud? In this article, we offer a historical perspective on traditional IT systems and their foundational role […]

The Training GAP in Procurement and How to Fix It

The importance of staff training for new technology In today’s fast-paced and constantly evolving business landscape, technology is crucial to the success of any organization. New software and tools are being developed and released every day, promising to streamline operations, increase productivity, and provide better customer experiences. However, the reality is that many companies invest […]

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TMS is an AI company that creates cost savings from Telecom expenses.

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