target audience: TECH BUYER Publication date: Mar 2024 - Document type: IDC PeerScape - Doc Document number: # US51924924
IDC PeerScape: Procurement Practices to Leverage Digital Technologies
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Abstract
This IDC PeerScape discusses the transformative impact of autonomous technologies on procurement processes, focusing on autonomous sourcing, statement of work generation, and purchase order collaboration. It highlights how these technologies streamline tasks, foster transparency, and enable data-driven decision-making, thereby enhancing efficiency and strategic focus. The document also underscores the challenges of traditional methods, including inefficiency, lack of transparency, and subjectivity, and provides examples and guidance on leveraging these technologies effectively.
"Autonomous tools in the realms of autonomous sourcing, SOW generation, and PO collaboration empower organizations to achieve greater efficiency, make data-driven decisions, and optimize their procurement strategies." — Patrick Reymann, research director, Procurement and Enterprise Applications at IDC