The digital economy is changing how business professionals work, thanks to new emerging technology. Almost all areas of business are undergoing digital transformation, including procurement. Innovative technologies such as cloud, AI/cognitive, machine learning, natural language processing, and big data/analytics are completely altering traditional procurement applications, digitizing procurement and partners.
For the past 30+ years organizations have purchased technology platforms and deployed them on-premises. Most of these legacy systems create a technical debt that organizations find is a nightmare to manage. Customizations, maintenance, hardware and even version control have put the organization at an operational disadvantage.
Are you ready to compete in the digital economy? Has your organization strategized and actively pursuing DX technology initiatives? Or is your organization just starting to figure out what it means to be digitally transformed? If you are just starting, you better quicken your pace, because IDC believes by 2020, 60% of all enterprises will have fully articulated an organization-wide digital platform strategy and will be in the process of implementing it.