In our previous post we discussed about Social Media and Cloud Computing being the two digital disruptions. In this let us discuss about the remaining two digital trends procurement needs to be concerned about.

3. Mobile Technology?

“App” based services are amongst the rising trends in the technology front. Soon procurement professionals will see a rise in procurement apps on professional mobile devices like smartphones, iPads and tablets having key importance. Apart from data security as discussed above, having the latest functionality available on the device will be essential. If the device is not amongst the latest, the device will falter on the capabilities required giving the end user a tough time.

What to ensure? – Once you have a mobile technology in place for your procurement day-to-day tasks, make sure you have the latest updates & releases on your device. Ensure your device is amongst the list of compliant devices to use the app/service. The app/service was designed for your convenience, if you see any discrepancy, report it.

4. Big Data?

Big Data has taken the market by storm and will play a key role for procurement in the coming future. In terms of procurement, Big Data will enable procurement professionals to forecast market trends, gauge risks, analyze new savings opportunities, find leading performance indicators and understand supplier, categories and markets better. The capabilities of Big Data analytics are endless and so are the complications. The disruption here comes in the form of managing the large volumes of unstructured data whilst ensuring data security.

What to ensure? – Big Data has the potential to tap into large information sources allowing professionals to take proactive decisions. Design patterns to easily structure the incoming data and turns them into visual analytics. This can be easily achieved with the help of technology. The IOT i.e. Internet of Things an agile combination of Social Media, Cloud Computing, Mobile Technology and Big Data is here to stay. What do disruptions do you think will occur here? Share your feedback in the comments section below.

Related Read:

1. Blog – Five Precepts to Digital Procurement Transformation
2. Blog – Technology Sourcing, Procurement and Vendor Management Need a Center of Excellence to Be Digital-Business-Ready
3. Blog – Nlock The Value Of Digital Transformation By Adopting E-Invoicing
4. Source to Pay Software Solution
5. White Paper – Digital Transformation in Procurement
6. White paper – Digital Destination: Charting Your Digital Procurement Journey