Spend Matters

The power of GenAI has become an assistant to people in their daily online research and writing. The 2023 McKinsey & Company report on #GenAI use shows that many have dabbled in generative AI and some have started to use it regularly. Understanding GenAI limitations can be important for users when thinking about how to implement LLMs into their processes. Dive into part 3 of the Spend Matters 6-part Autogmentation series, by Bertrand Maltaverne and Pierre Mitchell here: https://lnkd.in/gK93RESh What is autogmentation, you ask? - Augmentation: Exploring how AI enhances human capabilities and decision-making processes. - Automation: Using technology to expedite processes, managing production and service delivery more efficiently than humans. Autogmentation is how Spend Matters defines the technological capabilities of LLMs, coupled with human intelligence.

ICYMI: Empowering financial health: Enhancing working capital efficiency and early payment opportunities: In the realm of modern business operations, effective financial management is not just a task, it's the heartbeat that drives growth and sustains operations. Imagine a company navigating a complex network of supplier negotiations, payment terms and cash flow management. This is where procurement steps in as the strategic architect, shaping the path to financial optimization. Our article ‘Analyst Eye on Unleashing Strategic Impact and Driving Working Capital Optimization’ highlights the pivotal role of procurement in shaping this optimization. Visualize a team armed with advanced tools and AI-driven solutions seamlessly orchestrating the settlement of invoices, optimizing cash flow and reducing payment cycles. Through these efforts, businesses can unlock the door to improved working capital efficiency and early payment opportunities. The vision of procurement as a strategic enabler may seem idealistic, but with the right approach and commitment from new generations of procurement professionals, along with the power of technology and data-driven insights, it can become a reality that drives sustainable financial success and organizational resilience. This article provides a foundation for discussions with procurement and financial teams by highlighting the potential of leveraging procurement expertise to enhance #workingcapitalmanagement. The post Empowering financial health: Enhancing working capital efficiency and early payment opportunities appeared first on Spend Matters.

@SpendMatters released a new article! Rosslyn: Vendor Analysis (Part 1) — Spend analytics solution overview, company background, platform and services overview, modules and application overview, roadmap and vision Dive in here: http://ow.ly/6xMA105BGuS

Spend Matters released a new article! Rosslyn: Vendor Analysis (Part 2) — Spend analytics product-level strengths and opportunities, voice of the customer, competitors and market analysis, user considerations, analyst commentary and summary Dive in here: http://ow.ly/eZSs105BGuR

Rosslyn: Vendor Analysis (Part 1) — #Spendanalytics solution overview, company background, platform and services overview, modules and application overview, roadmap and vision: This Spend Matters Vendor Analysis provides an overview of Rosslyn and its solution for #spendanalytics. In today's rapidly evolving business landscape, procurement is no longer just about purchasing goods and services. It’s about strategically managing resources, optimizing supply chains and driving organizational value. As procurement's role becomes more complex, the need for advanced tools to manage and analyze spending increases. Enter spend analytics solutions — a game changer for modern procurement teams. Spend analytics solutions are designed to provide deep insights into an organization’s spending patterns, offering a comprehensive view of expenditures across various categories, suppliers and geographies. They transform raw data into actionable intelligence, enabling businesses to make informed decisions, uncover savings opportunities and mitigate risks. Rosslyn provides one such solution. Rosslyn has been a player in the spend analytics space since 2004, and it is one of the only publicly traded companies in the space. Rosslyn excels at providing core spend analytics capabilities and strong services alongside DIY tools. Part 1 of this vendor analysis provides a detailed overview of each module and includes an analyst summary. In part 2, we provide more details on the strengths and opportunities of the solution, an overview of the competitive landscape and selection tips. The post Rosslyn: Vendor Analysis (Part 1) — Spend analytics solution overview, company background, platform and services overview, modules and application overview, roadmap and vision appeared first on Spend Matters.

Rosslyn: Vendor Analysis (Part 2) — #Spendanalytics product-level strengths and opportunities, voice of the customer, competitors and market analysis, user considerations, analyst commentary and summary: Part 2 of this Spend Matters Vendor Analysis focuses on the strengths and opportunities of Rosslyn’s #spendanalytics solution. It also looks at the voice of the customer and the elements to consider when looking at Rosslyn as a potential solution provider. Part 1 of the series provided a history and overview of Rosslyn’s spend analytics solution and its roadmap. The post Rosslyn: Vendor Analysis (Part 2) — Spend analytics product-level strengths and opportunities, voice of the customer, competitors and market analysis, user considerations, analyst commentary and summary appeared first on Spend Matters.

In Part 2 of the Spend Matters 'Autogmentation' series, Bertrand Maltaverne and Pierre Mitchell dive into the history of artificial intelligence. Some key historical moments include: - ELIZA, a natural language processing computer development in the 1960s at MIT by Joseph Weizenbaum - IBM's DeepBlue, the AI that defeated a world chess champion in 1996 - AlphaGo, the highly intelligent software that beat the world's best Go play in 2016 The article includes differentiation between different forms of AI and its features which can be highly scalable depending on its use. Dive into part 2 of this 6-part series here: https://lnkd.in/gQqAci6U

Nikhil Gaur brings us the latest on this year's 50/50/5, and we're thrilled to share it with you. Stay tuned for a deeper dive into market insights this fall! Join our weekly newsletter for updates on #procurement news here: https://lnkd.in/g2skevF4

"Autogmentation" - What is this mouthful of a word? This is how Spend Matters defines the technological transformation coupled with human intelligence that is reshaping the procurement cycle. - Augmentation: Exploring how AI enhances human capabilities and decision-making process. - Automation: Using technology to expedite processes, manage production and service delivery more efficiently than humans. In this series, Bertrand Maltaverne and Pierre Mitchell dive into the history of #procuretech and #AI. They also explore how #GenAI can simplify processes, increasing efficiencies and drive revenue growth. Start with Part 1 of this 6-part series here: https://lnkd.in/g_qxC-AT #procurement #procuretech #procurementtechnology

ICYMI: Debunking 5 common myths about Predictive Procurement #Orchestration: Over 50% of organizations have automated their procurement processes, with around 35% using AI in procurement — an impressive increase from 29% in 2020. This evolution enables procurement teams to make superior decisions, initiate more events, and cover broader ground without additional resources. The post Debunking 5 common myths about Predictive Procurement #Orchestration appeared first on Spend Matters.