| | NOVEMBER 20196CIOReviewWith the rapid digitalization of the business ecosystem, organizations across a multitude of market segments are augmenting their procurement processes by leveraging cutting-edge technologies in an attempt to identify market trends and cut costs. Innovative procurement strategies ensure that enterprises can improve revenue generation, optimize working capital, retain market share, and extend product ranges. Further, a sound strategy can boost time to market and mitigate enterprise risk. However, without an agile operating model and robust processes to support these strategies, companies struggle to realize the strategic advantage of advanced procurement processes. Deploying tech-based solutions to improve specific aspects of their procurement posture can help businesses mitigate these challenges. Embracing this idea, procurement has become highly accommodative of other core business functions such as enterprise resource planning, inventory management, and human capital management among others. Today, procurement technology enhances service quality, enables quicker decision-making, minimizes costly errors, and reduces administrative overhead. Furthermore, organizations are leveraging cloud-based and IoT technologies to increase the accessibility and scalability of their procurement technology. This trend has its roots in heavy reliance on provenance, decentralized coordination, and transaction history. Today's marketplace is filled with procurement players that can facilitate internal need analysis and implement comprehensive sourcing strategies. As a result, CIOs struggle to identify the right procurement solution stack amidst the seemingly endless stream of marketing jargon. Above all, cost advantages and cash flow improvements continue to drive procurement and supply chain functions, and therefore, companies ought to finalize their choice of vendor accordingly. As always, CIOReview proudly presents its special edition on procurements trends and solutions to bring clarity into this ever-expanding space. For us, coming up with this edition has been a deep dive into exploring a plethora of innovative service providers, changing trends, needs of the hour, and a glimpse into how the future of the space. We hope the valuable insights from industry thought leaders and leading edge solutions from prominent as well as emerging companies featured in this edition would help you in making informed decisions for your organization.Let us know your thoughts.EditorialOptimizing Procurement with Next Gen TechnologyCopyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewContact Us:Phone:510-230-0395Fax:510-894-8405Email:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com November - 05, 2019, Vol 08, Issue - 86 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffAaron PierceCarolynn WaltersDean WinchesterJustin SmithShirley FaithRussell ThomasVisualizersIssac GeorgeJohn Gotham*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin SmithSalesStephen Thomasstephen.thomas@cioreview.com
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