Supply Chain Digital Magazine November 2024 | Page 5

AI ORCHESTRATES THE PROCUREMENT SYMPHONY

Imagine a procurement process that flows seamlessly , from initial request to final payment . Disjointed workflows and frustrated buyers are history . This harmonious state is now achievable , thanks to artificial intelligence ( AI ).
Traditionally , procurement software fell short of creating a smooth user experience . But a new wave of AI-powered orchestration platforms is changing the game . By combining generative AI with low-code platforms , these solutions synchronize data and tasks , enabling a unified “ intake-to-pay ” process .
So , how exactly does AI conduct the procurement orchestra ? Here are five key ways in which AI can help .

Traditionally , procurement software fell short of creating a smooth user experience . But a new wave of AI-powered orchestration platforms is changing the game .

First , AI helps synchronize and automate source-to-pay workflows , streamlining the entire procurement lifecycle . Picture it as a conductor coordinating the various instruments ( spend management , supplier management , risk management , etc .) in a synchronized performance .
Second , AI helps personalize user experience . Generative AI can guide buyers through the process , especially those unfamiliar with procurement complexities . It can detect and understand plain language requests , interact for clarification , and offer suggestions , empowering non-procurement buyers to make self-directed purchases . This makes the procurement software more accessible , significantly boosting user adoption .
Third , AI can help tailor the experience to specific roles . Like assigning parts in an orchestra , the system can provide tailored dashboards , reports , and alerts based on different user personas and functions . This way procurement professionals get focused insights to optimize outcomes , while non-procurement users see relevant data for informed decision-making .
Fourth , AI can help enhance transparency . Getting real-time visibility into processes and request statuses keeps everyone accountable and compliant . It ’ s like having a transparent score sheet for procurement performance . This empowers buyers to track their requests and frees up procurement teams from managing routine tasks .
Finally , AI can help foster effective collaboration . It can gather data and coordinate workflows across functions , breaking down silos . So all stakeholders — procurement , finance , suppliers , other internal / external parties — have access to the same sheet music . This encourages collaboration , allowing everyone to adapt quickly to changing circumstances .
With AI-powered orchestration , the procurement symphony plays in perfect harmony , driving efficiency , collaboration , and informed decision-making across the organization . And , most importantly , effectively realizing the desired business outcomes .