By opting for e-procurement, businesses also derive various benefits and can drive leaner and optimised procurement operations. Advanced Al-driven e-procurement platforms provide constant inputs, analytics and help the businesses set parameters for their requirements. We live in a marketplace world where almost all types of services and products are being sold by aggregator platforms. Whether it is groceries, electronics, healthcare, travel, household items or vehicles, businesses are selling everything through e-commerce aggregator platforms. The evolution of cloud, AI (Artificial Intelligence) and IoT (Internet of Things) has further transformed efficiency and access in a big way. Gartner has predicted that by 2022, about 50% of the existing spend analysis and procurement tools will be replaced by Al-driven, cloud-based purchasing platforms. Hence, it makes perfect sense to use the same technologies to power procurement as well.
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