It’s not an exaggeration to say 90 percent of today’s procurement technologies will be obsolete in the coming years. While much of today’s tech has some great functionality, when you put it up against the backdrop of a world where the big value is in the data more than the tactical functionality, it’s clear that they’ll simply be left behind!

Don’t believe me? Think this is “out there?” Let me elaborate…

Why can’t Alexa answer my questions?

Nowadays, many of us use Amazon’s intelligent personal assistant, Alexa, or similar AI applications. If you have, you’ll know that they’re not always adept at answering the questions we ask of them. Why? It’s simply because they don’t have enough data…yet!

Imagine machines that could:

  • Manage all your discrepancies for you
  • Detect fraudulent procurement
  • Code your non-PO invoices

This is the point at which technology gets a lot more exciting, and we’re not far from reaching these dizzying heights. The question procurement teams must ask is whether their organization has the volume, quality and completeness of data to allow these machines to learn, provide accurate predictions and take accurate actions on the organization’s behalf.  And to be sure of that, we need to look ahead…

The here and now won’t help you tomorrow!

I’ve spoken before on the downfall of Siebel as an example of what happens when organizations only live in the here and now, solving the problems of today without looking ahead to tomorrow.