Enterprise Doubles Down on the Benefits of Artificial IntelligenceScience Daily defines Artificial Intelligence as “a system that perceives its environment and takes actions which maximize its chances of success.” Essentially, it’s software that can look at vast amounts of data and extrapolate patterns, offering data-backed solutions that businesses can take.That is is why over 55 percent of businesses plan on making significant investments in AI over the next 2 years. In short, AI can give your business the strategic edge it needs to beat the competition. And if you’re looking to gain an incredible advantage with AI for your business, then look no further than your procurement processes. The Weakness in Your Procurement Process Many businesses take procurement for granted. In fact, most businesses overlook upgrading how their business manages suppliers, vendors, and inventory. So, it’s not surprising that most growing companies still use things like spreadsheets to track manual invoices. And that’s problematic. Manual processing procurement requests puts your business at risk. It’s easier to double pay invoices or pay late, each costing you money and damaging your relationship with your vendors. Why do businesses stick with doing things “the old-fashioned way?” Well, it’s usually not intentional. As a ...
Read More on Datafloq
No comments:
Post a Comment