Procurement has managed to get a lot of attention in the last one and a half decade for managing costs promoted by the global financial crisis. On the other hand, procurement is also shifting its focus towards mitigating the risks involved in the supply chain industry. With technology reaching every corner, procurement has a vital role to play in assuring security, lucidity, and best practice while assisting enterprises in meeting their demands. Another challenge, as well as an opportunity for procurement, is to add probity and governance to its working principle. However, nowadays, CIOs look for procurement solutions that offer an integrated system with a holistic view of the procurement process and trims down the cost and time involved. When it comes to the latest technological trends, Big data has become an integral part of procurement and encourages procurement assessments, form processes, and decide appropriate procurement solutions. In addition, big data and artificial intelligence collaboratively work to augment the speed and overall efficiency of the procurement processes and supply chain. Nowadays, organizations have also started employing machine learning algorithms in synchronization with big data reducing the time and cost required by the companies.
To help organizations find the right solutions for their procurement initiatives, a distinguished panel comprising CEOs, CFOs, analysts, and CIO Applications' editorial board has earnestly filtered the most prominent vendors and solution providers in the contemporary Procurement arena. The current edition of our magazine brings to you “Top 25 Procurement Solution Providers” for the year 2017.