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Optimizing Success through Advanced Procurement Analytics
Procurement analytics has a huge playfield to help score great success for the function. With analytics, procurement teams can achieve beyond ordinary benefit of spend reduction. In the entire source-to-pay (S2P) cycle, analytics has proven record of generating insightful data of immense value.
In addition to the above, the power of analytics combined with newer technological forces such as Internet of Things (IoT) and cognitive computing can be harnessed by procurement for more impactful decision making.
With this as the background, this whitepaper explores the role of procurement analytics based on the following:
- The genesis of procure to pay analytics
- Scope of analytics in current procurement practices
- The future of procurement analytics software
Resource
Procurement analytics has a huge playfield to help score great success for the function. With analytics, procurement teams can achieve beyond ordinary benefit of spend reduction. In the entire source-to-pay (S2P) cycle, analytics has proven record of generating insightful data of immense value.
In addition to the above, the power of analytics combined with newer technological forces such as Internet of Things (IoT) and cognitive computing can be harnessed by procurement for more impactful decision making.
With this as the background, this whitepaper explores the role of procurement analytics based on the following:
- The genesis of procure to pay analytics
- Scope of analytics in current procurement practices
- The future of procurement analytics software
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