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The Future of Automation In Procurement

The Future of Automation In Procurement

Administration is the grand bugaboo of every operation doing business, whether it be in the realm of consulting, procurement, or any other sector.  The problem with administration is that it’s an entirely necessary function to keep the ball rolling, but it’s time-consuming, human resources heavy and costly.

But new models of automation are making administration a more manageable, cost-effective function.  Robotics are now capable of taking over small day-to-day tasks that otherwise require an undue amount of attention from human workers.

The future of automation in procurement promises a leaner way of approaching the task, unburdened by the resources drain currently represented by administrative tasks.

What RPA (robotic process automation) can do.

Functions normally performed by a human who might be doing other things can be managed by RPA.  For instance, attachments on emails from suppliers can readily be automated to download to specific files in a matter of a couple of hours, saving precious time in the work day.

Even more hopefully, RPA can analyze data which procurement teams may not have the time or resources to do effectively.  By accessing data on inventory and sales, projections can be produced which keep procurement on point.

Forecasting trends.

Big data is your friend when it comes to interpreting trends in wages, pricing, supply and numerous other factors.  The price of things is the result of a complex of drivers which can be understood through the analytical application of what data tells us.

With RPA, this data becomes intelligible and thus, deployable.  Because of the impact on pricing by drivers like the rapid pace of technological change and global political realities, RPA can support procurement professionals by sorting key data and applying it to forecasting.  This is an important step forward, as it gives procurement operations a window into the immediate future.

RPA will also provide additional performance measures in terms of vendors, moving beyond yardsticks like delivery times and quality assurance.

Still in a rudimentary stage, RPA promises to revolutionize procurement and one of the most compelling ways it will do that is by offering professionals an enhanced ability to apply data to forecasting and performance measures.

The future of automation in procurement is bright.  At Centerpoint Group, we’re encouraged by these advances and see in them the next phase in the evolution of the sector.

Finding strength in numbers.

CenterPoint Group is a member-based procurement advisor, leveraging resources pooled from our members to reduce the costs of goods and services.

Everything from office and janitorial supplies, to vehicles, fuel and cell phones can be procured more cost-effectively with the power of numbers behind you.  We significantly reduce costs for a variety of operations by offering them the strength that being part of something bigger than one organization can offer.

When you’re ready to take your procurement process to the next level, you’re ready to find the strength in numbers CenterPoint brings you.  Discover a whole new way of holding the bottom line, with the support of a member-supported procurement process.

Contact us for a free analysis.

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