Procurement has rapidly become a high-impact area for automation. Traditionally, it has been primarily a back-office function, focusing on handling and approving requests from business stakeholders for products and services, dealing with vendors, and ordering and obtaining the items or services.
Robotic Process Automation (RPA), especially when combined with artificial intelligence (AI) to support intelligent automation, can enhance the efficiency and accuracy and reduce the related costs of procurement. According to the Everest Group, RPA and AI can also provide procurement leaders with strategic insights to be better business partners.
