Procurement 4.0 – Are you ready?
Procurement has been at the forefront of adopting cloud-based digital platforms enabling efficient transacting processing. This transition to cloud that started with indirect purchasing has accelerated to direct materials. Key purchasing functions have gone a step further by building an ecosystem of solutions offering rich automation and intelligence lowering transaction costs by an average of ~30%.
Some industries like oil and gas have lagged in digitalization due to a mix of high regulations, significant variations between upstream and downstream and history of acquisitions.
Robin Goswami, SVP & Regional Head - Energy Practice discusses how companies can accelerate their digital transformation journey by adopting an approach based on four key principles – a clear view of applications at the core, automating and optimizing in parallel, AI as a central part of data operations and building an agile culture.
“Infosys are our partners for developing and maintaining two key modules of our Compass platform: Opportunity and Case Planning. The huge advantage that we get from those two modules in Compass is in our ability to workforce plan, prioritize and operate our activities at scale . . .” - Mark Smith, Director or Strategy and Transformation, GBS Procurement, BP
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