The most obvious benefits of AI-powered procurement automation are speed and efficiency. But a more holistic and compelling business case for investing in automation requires consideration of ancillary benefits. These advantages are often more important than speed and efficiency and they can crystalize the case for senior executives that automation can lead to a step change in procurement performance.
Across the source-to-pay procurement solution landscape, automation solutions powered by robotic process automation (RPA), natural language processing (NLP) and artificial intelligence (AI)/machine learning (ML) are emerging to help teams improve performance like never before. The problem: many procurement leaders still struggle to articulate the business case clearly. Alan Holland, CEO of Keelvar, gives five overlooked benefits of procurement and sourcing automation that should be front and center of your initiative.