Digital transformation is set to revolutionise business processes, according to JAGGAER MENA/Tejari, a leading global strategic procurement provider.
Businesses across the Middle East can leverage the power of a new generation of fast and efficient digital technology and advanced analytics to enhance their customer’s experience and profitability.
Digital transformation is making it easier than ever before for a procurement function to effectively play a significant role in optimising business and its supply chain, while delivering cost savings. It reduces strategic sourcing costs and cycle times by 30 per cent and reduces data-collection errors, leading to cost savings. The proliferation of digital transformation initiatives in the region is also driving increased spending on the internet of Things (IoT) to allow powerful analytics to be embedded even deeper into the organisations supply chain. According to International Data Corporation (IDC), regional organisations will ramp up their IoT investments which is forecast to grow 15 per cent year-on-year in 2018, with spending predicted to reach $6.99 billion in 2018 and $12.62 billion by 2021.
“The Middle East is experiencing major transformation in the digital world. This transformation can be utilised so that organisations can streamline procurement processes and increase efficiency. Digital innovation is able to impact the bottom line and therefore contribute towards the growing economy. Forward thinking organisations that make strategic IT investments considerably strengthen their business outlook,” said Dan Quinn, Senior Vice President at JAGGAER MENA/Tejari.