Procurement 101

Whether you recognize it as “eProcurement,” “Procure-to-Pay,” “Source-to-Pay,” “Business Spend Management,” “Digital Supply Chain,” or something entirely different, the market leading cloud solutions are going through another major step in their evolution. These solutions were originally constructed to be industry agnostic and largely focused on indirect spend. As companies have matured and widely adopted digital solutions for indirect spend, focus is shifting to the next frontier of digital optimization: direct spend. As a result, the next stage in the digital evolution is about providing tailored supply chain solutions to each industry.