We recently hosted a discussion around Smart Analytics and its transformative effect on the Purchase to Pay Cycle, as one of the big 3 technologies. It was a stimulating discussion, sharing our experience from over 15 years of working with customers and our cutting edge research into the role of AI, RPA and Smart Analytics. Due to popular demand, we will be rerunning this session on the 28th June for those who were unable to attend the previous broadcast.
As a reminder, this is a brief overview of what we covered, which will be honed using feedback from the audience on our last session:
We set the context of the challenge facing us in the Purchase to Pay cycle, not least the alignment between procurement and finance and related performance measures. We reminded our attendees that some of the latest and greatest technology can often take us two steps forward, but one step back, and we cannot afford to ignore the unintended consequences of the one step back.
Balancing our own healthy skepticism, we shared some of the insights of our co-founder Dr Tom Gruber, of Apple Siri fame, who describes the aspiration to ‘Humanistic AI’. We shared a link to Tom’s TED talk as part of this, which you can find here
We also shared some results from our research, where companies are finding tangible differences could be made to manage performance and control the risk of error in the end to end process and improve the function.
We reflected on an insightful commentary from HfS research entitled the Triple A Trifecta – Automation, Analytics and AI. Balancing these three technologies will be a key success factor to drive the efficiency, effectiveness and alignment benefits for the transformed P2P cycle.
During the webcast we will look at the 7 key ways we believe Artificial Intelligence and Smart Analytics will transform the Purchase to Pay Cycle. A hint at what the list includes:
- Facilitating collaboration and alignment across the organisation, business and technology silos to drive genuine value
- Analysing complete process operation, transactions and data activity
- Identifying error, waste, outliers and conserving cash in the process
If you are interested in finding out the other half of this list, as well as hearing more insights from our experts about optimising your P2P Cycle, we have provided a recording of the session which you can view by entering your details below: