Business Intelligence is a resource that is helping businesses to face the future. It’s a solution that supports strategic and fast decision-making. While this technology can be used by any industry, it has shown to be of great value in the procurement area.
This is what Marcos Roig, Commercial Manager at Mercadoe, says in one of his articles (“BI as a solution for the B2B market”), published in the Administradores.com and Business Consultant portals.
Mr. Roig points out that, combining this technology with other Information Technology (IT) solutions, allows extracting information from ERP and SRM systems, to convert them into data that can be used to make better decisions in this area.
Still according Mr. Roig, based on Business Intelligence, the buyer is able to cross-track supplier purchases from metrics such as seasonality, lead time or region. This technology offers also endless possibilities, from team management to result comparison, thus converting – in real time – company data in valuable information to the procurement area.
Usually, professionals of procurement areas find it difficult to sort data due to the variety of sources, ranging from spreadsheets to data in the cloud of other systems, through customer database.
Business Intelligence comes in at this point, to cross data that would be rendered obsolete without the right focus. With such technology, this information finds its right place – which is helping to do good business, with safety and in compliance with requirements that are internal and external to the company.
To know more about this technology, which has persuaded businesses all over the world, read also the article “Business Intelligence: artificial intelligence in procurement”, and discover the technicalities behind such artificial intelligence.