Autonomous Sourcing 

Autonomous sourcing is a next-generation e-sourcing application that adds AI capabilities to increase event automation and provide embedded decision support. Autonomous procurement is a data-driven model that works with both historical data derived from past experiences and real-time data that is synchronized with market trends. It leverages technology to enable procurement teams to automate the entire source-to-pay process while reducing the need for human intervention. 

What is autonomous sourcing? 

Autonomous procurement is a data-driven model that works with both historical data derived from past experiences and real-time data that is synchronized with market trends. It leverages technology to enable procurement teams to automate the entire source-to-pay process while reducing the need for human intervention. The main objective of procurement autonomous is not to eliminate the human element from the process; instead, its goal is to reduce unnecessary and time-consuming tasks, thereby allowing the workforce to focus on productive tasks and operate at a strategic level. Alongside enabling businesses to automate repetitive tasks, it provides useful insights for result-driven decision-making.

Moving to autonomous sourcing can increase the speed and efficiency of the end-to-end event processing for your buying team. Autonomous sourcing automates your simple and repetitive high-volume, time-intensive tasks so you can focus on sourcing more complex, high-value strategic events. This shift increases the speed and efficiency of your team and reduces the effort you are spending on low-value tasks.

What are some of the benefits of autonomous sourcing? 

• Reduce cycle time: By automating events, reduce your sourcing cycle times. With more time, you can focus your time on strategic and high-value transactions.
• Achieve higher savings: Find higher savings with bundled events awarded by your criteria.
• Compliance and diversity: Maintain compliance and diversity requirements by automatically sending your event to a variety of recommended suppliers, considering your diversity goals.