Procurement of the Future: Investing Today in the Technologies of Tomorrow

Procurement is at inflection point. Digitization and advanced technology innovation enforce procurement evolution to resolve existing challenges which include lack of procurement data visibility, sharing, insights and consensus, supply chain disruptions, delayed time to value with monolithic IT platforms, and complex labor, tax, privacy, environmental, and invoicing laws. It is expected that AI technology will spread widely throughout society in the future, promoting competitiveness and establishing new industry structures. Investing for a sustainable future is driving major client buying behaviors and long-range corporate strategies. Our study focused on evaluating current trends, and projecting toward the vision of the next generation of procurement and its impact on technologies and solutions deployed in the future.