The application of technologies like data analytics for procurement could reap benefits now even without data consolidation.
CIO.com reports that artificial intelligence-based techniques could help employees exploit opportunities now rather spending time trying to normalize data stored in disparate databases.
The CIO.com article explains:
“Rather than spending months or years on ERP-style integrations, some businesses have discovered that they can use AI tools to extract the value from data without first organizing disparate data lakes, a task that is typically complex and time-consuming.
“…by providing functionality that transforms procurement contract data into an online store for employees, procurement software can drive up compliance and drive down overall costs just by simplifying the task of purchasing supplies or services. Those savings can be realized immediately, even if data is still otherwise siloed.”