Source: prnewswire

The latest report from Ivalua, a global leader in spend management, and Procurious, titled “Next Level Procurement: Embracing GenAI and Whatever Comes Next,” reveals a transformative shift in the procurement landscape as organizations navigate unprecedented external pressures. The survey of 137 procurement leaders highlights the urgent need for adaptability, strategic focus, and technological integration to thrive in an ever-changing environment.

“Procurement has changed dramatically in the last several years,” said Alex Saric, Chief Marketing Officer (CMO) at Ivalua. “It’s a constant juggling act these days, dealing with everything from global disruptions to skyrocketing costs to uncertain trade policies. Next-level procurement means empowering teams to quickly and effectively adapt spend and supplier strategies as conditions evolve. Embracing AI and other advanced technologies can be a real game changer.”

“A growing number of teams are turning to generative AI to automate routine tasks, improve decision-making, and enhance productivity”, added Saric. “Rapid advances in agentic AI will supercharge the quality and scope of its business impact in the near future”.