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5 Bold Predictions Insights Series (3 of 6) – Procurement Technology Acceleration

procurement predictions

ProcureAbility is pleased to publish its Bold Procurement Predictions for 2030 Insights Series to help Chief Procurement Officers make sense of it all, highlighting the new practices likely to become common by decade’s end including advanced crowdsourcing, procurement technology acceleration, cognitive computing, hyper cybersecurity, and virtual organization design.

In This edition, ProcureAbility continues its ‘Bold Procurement Predictions' Insights Series – the product of extensive research and input from a think tank of experts in the supply chain field – with a look at the rapid technology acceleration expected in the procurement practice by decade’s end. Chief Procurement Officers are already re-evaluating processes, with nearly one in four reporting that digital transformation is a strategic initiative in 2022.1 The majority of mid- to large-size organizations report using e-procurement and e-sourcing software, and we predict use will grow exponentially in the coming years. Artificial intelligence, machine learning (ML), and predictive analytics will replace human efforts for most administrative tasks. These seismic shifts in procurement technology stack will have a significant impact on how teams conduct business. Here are a few of the emerging technologies we expect to gain mainstream acceptance by 2030: 

Procurement Teams are Expanding Their Tech Footprint1

30% are using new technologies