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The world of automation technology is in a constant uptrend and it is simplifying the business approach to stakeholder management. With the right software in place, there are a variety of uses and features of digitalisation of procurement. Outlining modern-day supply chain disruptions allows for the benefits offered by the digitalisation of procurement to be highlighted. Businesses must also keep in mind the need for digitalisation, trends in automation within the industry, competitor behaviour, the long-term view of digitalisation in procurement, finance availability, economic conditions, and the rise of industry 4.0 as considerations during the process of digitising procurement.

The digitalisation of procurement processes has resulted in a revolutionary leap in business processes—simplifying activities, reducing costs, and improving stakeholder connectivity. This has resulted in businesses gaining the ability to benefit from globalisation and localisation, enabling them to forgo opportunity costs and meet all their objectives.

Digital supply chains use centralised software to monitor, analyse, evaluate, track, and mobilise procurement activities. Data has shown that 70% of businesses that have adopted automated supply chains have seen a significant improvement in their procurement function.

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