Reasons To Love Autonomous Sourcing

Kerrie Kennedy

February 16, 2023

Sure, flowers and chocolates are always appreciated on February 14th. But this year, why not take a moment to appreciate the technology that is changing the game for the procurement industry and making workloads a whole lot easier?

In our recent webinars and blogs, we’ve discussed why autonomous sourcing is set to be the procurement technology that revolutionizes the way organizations source goods and services. Keelvar’s next generation bots are enabling teams to automate routine tasks such as supplier identification, and bid evaluation, freeing up sourcing professionals to get on with more strategic activities. 

With that in mind this Valentine's Day, here are 5 reasons to show your appreciation for these bots and the benefits they bring to your organization:

1 Kiss goodbye to tedious tasks

We all know that sourcing can be a time-consuming process. But with autonomous sourcing, procurement can reduce the workload of such tasks as supplier identification, supplier invitations, feedback, and bid evaluation.

One of the best things about Keelvar’s Autonomous Sourcing bots is that they work around the clock, tirelessly combing through data and identifying potential suppliers. They don't take breaks or need vacations, which means that they can get a lot more done than a human ever could. That's right: no more staring at spreadsheet formulas for hours on end, wondering where it went wrong. Autonomous sourcing takes care of these tasks—and more—in a fraction of the time it would take a human.

2 Show you care by saving more money

Our bots can help organizations negotiate better prices and terms, identify potential cost-saving opportunities, and reduce the time and effort required to manage sourcing processes.  In other words, autonomous sourcing can help procurement make real savings.

3 Build better relationships

Autonomous sourcing can provide more accurate and comprehensive insights into key factors that influence sourcing decisions, freeing up procurement teams to focus on building stronger relationships with suppliers, which is good for everyone involved. 

Meanwhile, your suppliers will love Autonomous Sourcing bots because they help ensure fairness and transparency in the process by enforcing consistent and objective evaluation criteria for bids and proposals. This can help suppliers compete on a level playing field, leading to better outcomes for all parties involved.

4 Be more nimble and responsive

Autonomous sourcing can help organizations respond more quickly to changing market conditions, identify new suppliers, and adapt to evolving customer needs. By allowing business end users to source directly the business gets what it needs, when it needs, at competitive market prices while still ensuring that company policies are met and compliance is upheld.

5 Start preparing for the future

Autonomous sourcing can help procurement teams prepare for the future by providing the tools and insights they need to adapt and thrive in an ever-changing environment. Automating the procurement process can help procurement teams identify potential issues before they become major problems, thus reducing the risk of costly mistakes. 

Of course, driving adoption of a new procurement tool can be challenging, but our Customer Success team is on hand to ensure that Keelvar’s solution is meeting your sourcing team's needs and addressing any pain points they may have. By maximizing adoption and usage you will also gather important data that we (Keelvar) can use to drive more automation and help you make even better decisions as the solution and algorithms are improved.

So there you have it—five reasons why procurement should love Autonomous Sourcing. Say goodbye to tedious tasks, save money, make friends, be nimble, and be future-ready. What's not to love? For more information on Autonomous Sourcing, speak with one of our experts today.

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