How Procurement Can Drive Business Insights

Jul 08 2019

Nikesh Parekh is the CEO and Co-Founder of Suplari, an AI-powered spend accountability and financial performance system. Nikesh’s journey into procurement wasn’t a straight line. After dabbling in a few different ventures from medicine to real estate, Nikesh came to realize that companies were dealing with an abundance of data but no one to interpret it. Through artificial intelligence and machine learning, he created Suplari to fill an important niche in the procurement industry to help procurement teams interpret their data to gain new business insights.

Key Takeaways:

  • The future of procurement lies with CPOs who look for ways to align with the company’s corporate initiatives and goals.
  • By rejecting the status quo, procurement teams can have a material impact on the initiatives and KPIs of the company.
  • To be successful, CPOs must build teams that have a deep understanding of artificial intelligence, machine learning and data analytics.