Today, in vibrant business world, procurement encompasses a complex assortment of activities concerned with establishing fundamental requirements, and sourcing activities. Modernization in procurement technology has been redefining the way procurement organizations function. The recent trends such as Cloud computing, IoT, and Big Data are significantly improving supply chain traceability and aiding procurement decisions. Rapid advancements in digital technologies are remaking business supply chains, and are poised to transform how the procurement function delivers value. The application of the disruptive technologies to procurement is primarily altering the brunt of this function. Procurement is becoming more automated, and supplier relationship management is becoming more proactive.
The past couple of years have seen procurement becoming an important part in accomplishing cost savings for organizations. Leading procurement organizations are aligning to this by changing the way they operate. Improvements in the most recent trends like spend management and e-Procurement systems have broadened the scope and reach of this arena. Procurement is set to evolve, compelled by overwhelming trends in the sector, like technological innovation, the imperative for enhanced risk management strategies and the management of relationships with suppliers. In the decade ahead there will likely be a dramatic shift that will be eye-opening by comparison.
The current edition of CIO Advisor brings to you “Top 10 APAC Procurement Solution Providers - 2017”. The list highlights some of the most prominent organizations of the industry who are at the forefront of tackling challenges in the procurement landscape. The proposed list aspires to assist individuals and corporations to find the right Procurement Services Provider, who suits their specific requirements, and help them accomplish their projects.