Digital has the power to transform industries.
Companies around the world are already embarking on their digital transformation journey.
They’re seeing the benefits it can unlock across their operations, not only in their supply chain and procurement strategies, but in enabling their employees to work more efficiently across the board.
Shipsta’s latest e-book highlights the top 4 freight procurement technologies to look out for in 2023 (although, when it comes to digital, much of these solutions can be applied to various industries). Whilst the e-book explores the benefits of digital in the freight industry, we highlight how this approach can be applied to anywhere in your business when scouting new technologies, as you make the first step in your digital transformation journey.
The same methods apply, and enable users to conduct better, more strategic decision-making.
1. Digital Rate & Contract Management
The ProcureTech100 Contract & Legal pioneers help users shift from stand-alone data sources to digital tools, leveraging AI, ML and NLP technologies. Transitioning from manual to digital processes can improve the way you track industry-specific information, such as:
- Shipment data
- CO2 emissions
- Lead times
- Conduct benchmarking
2. Advanced analytics and sustainability dashboards
Analytics helps companies to collect real-time data, to turn this information into actionable insights and stay ahead of the game. ProcureTech runs ACCELERATOR programmes which help solve corporates’ advanced analytics problems.
Analytics, data and intelligence pioneers use automation to enhance the insights that analytics can provide, improve UX and unlock more accurate fact-based decisions. Additionally, sustainable procurement pioneers drive greater impact across all ESG fields, and help customers to prioritise their emissions tracking and offsetting.
3. Automated transport assignment
Automated solutions can help users manage disruption proactively and more efficiently, thereby helping them to remain competitive, whilst ensuring profitability.
4. Autonomous freight procurement
Autonomous procurement is already empowering procurement teams.
For example, autonomous bot solutions help companies to optimise and automate their sourcing decisions in rapid time, whilst sourcing & cost management pioneers like Pactum provide an automated negotiation tool.
Such tools unveil the potential for significant savings in quick time, helping customers to maximise their competitiveness and react to the market in seconds.
Key takeaways
✓ Capitalise rapidly on market opportunities
✓ Make your data actionable and upgrade your visibility, while saving both time and cost
✓ Manage disruptions proactively and with efficiency
✓ Digitalise your spend categories and capabilities based upon a clear ROI
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