Key Technologies for The Future Procurement

In the past two decades, Procurement Services have had beneficial and commercial success because of its centralization and economical aspect. To meet growing demands and be evolved in digital technologies, a procurement provider has to assure that the enterprise’s overall spending is approximately 0.8 percent compared to the operating cost. Furthermore, procurement experts will utilize the bulk of time figuring the business problems while applying procurement knowledge. 


The catalysts for and enablers of this new vision of procurement are key digital technologies such as,

  • Cloud computing
  • Analytics
  • Industrial Internet of Things
  • Cognitive systems.

“Perhaps the most significant finding of our research is that these digital technologies will do far more than enable procurement to continue to incrementally improve how it works. Rather, they allow the organisation to gather and analyse more and richer real-time data to drive better, smarter and more accurate decisions.” Therefore, these key technological procurement should be applied to answer business issues and enhance the quality of products and services.

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