Procurement automation refers to the use of technology and software to streamline and optimize the various processes involved in procuring goods and services for an organization. This includes everything from identifying the need for a product or service, requesting quotes or proposals, supplier selection, purchase order creation, invoicing, and payment. The goal of procurement automation is to reduce manual and time-consuming tasks, improve efficiency, accuracy, and compliance, and ultimately save time and money for the organization leveraging best in class Robotics (RPA), Artificial Intelligence, and common digital platforms like Spend Management, E-Sourcing, CLM, P2P, and ERP.
