“Growing Demand for Procurement”
- One prominent trend in the global procurement as a service market is the growing demand for procurement
- This trend is driven by the need for enhanced operational efficiency, better supplier management, and the increasing complexity of global supply chains
- For instance, companies such as IBM and Accenture are advancing procurement as a service offerings by integrating automation and artificial intelligence to streamline sourcing, automate tasks, and improve strategic decision-making
- The integration of automation and artificial intelligence into procurement processes is further accelerating this trend, enabling faster and more accurate procurement cycles
- As businesses focus on reducing operational costs and improving procurement outcomes, the adoption of procurement as a service is expected to significantly contribute to market growth, especially among small and medium-sized enterprises
