How AI is Shaking Up the Procurement World – From Predictive Analytics to Natural Language Processing Tools
So, you’ve heard of AI, right? That fancy tech that seems to be everywhere from our phones to our fridges. But did you know it’s making waves in the world of procurement? Well, it is. The days of manual data input and lengthy supplier evaluations are being replaced by the precision, efficiency, and intelligence that […]
Trends to watch in procurement technology: An overview of the latest developments in procurement technology
Procurement technology has come a long way in recent years, with new developments emerging all the time. From artificial intelligence (AI) to blockchain, businesses have a range of procurement technology options available to them. In this article, we’ll provide an overview of the latest trends in procurement technology and what they mean for businesses looking […]
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 […]
Tackling the Root Cause of the World’s Billing Problem
Identifying cost savings for customers who have been consistently overcharged only solves one part of the global billing problem. Technology service providers, such as telecoms companies, are also at risk when failing to accurately bill their clients. Losing customers and breaching regulatory compliance are the foremost hazards, particularly at this time of increased data scrutiny and […]
Uncovering Technology Service Savings Is Now as Easy as Using Google
When you Google something, have you ever wondered how it can provide specific results for you to explore? The answer is semantic technology, specifically the famous Knowledge Graph in the case of Google. The main goal of semantic technologies is to help machines understand data, and they are now enabling an evolution from simple relational database […]
How Spend Analysis Can Help Your Telecom Spend Management
Did you know that global technology spending had a four percent increase even amid the pandemic? These numbers should not surprise you, especially since almost all businesses rely on technology and telecom to operate most of their functions. Unfortunately, about 20 percent of the amount that companies spend on telecom is an unnecessary expense. For […]
What is the Role of Contract Value Intelligence in Spending Analysis?
Understanding what truly constitutes contract value intelligence (CVI) is a crucial starting point for strategic cost management, expense management and enterprise spending analysis. Telecom or technology contract value can be determined by the quality of the service in relation to your overall technology and telecoms spend, which you must be aware of to determine whether […]
Category Management Analytics drives Business Digital Transformation
Imagine this: your team has found itself over budget after a challenging year of technology migrations and changing suppliers. You and your team need to find where the problems lie but no-one has enough spending analytics associated to your contract lifecycle management to fully understand the actual services being delivered within your technology and telecom […]
Proven Strategies to Improve Procurement Intelligence
In modern times, the shift from telecom expense management (TEM) software to technology contract value intelligence continues to gain momentum as the complexity of enterprises telecom asset lifecycle management increases. Every time you send an email or make a call, that is a service being delivered. When organizations use the cloud or machine to machine […]
Why is Technology Expense Management Complex?
Enterprise organizations have been striving to adopt wide ranging emerging technologies including technology expense management providers and telecom expense management software throughout recent history, meanwhile contract value management, contract value intelligence and enterprise spend analysis practices have also been gaining momentum. However, a growing problem exists, the complexity for enterprises to efficiently manage technology expenses […]
