3 Ways AI Is a Game Changer in Procurement Management
SYDNEY, AUSTRALIA, August 14, 2024 /24-7PressRelease/ -- Procurement management is on the brink of revolutionary change driven by rapid advancements in artificial intelligence (AI). Julian Harris, founder and CEO of RobobAI, a global fintech company leveraging AI technology to help organizations optimize supply chains, explains how AI is reshaping the supply chain landscape.
Harris co-founded RobobAI (pronounced "robo buy"), an innovative AI-driven platform designed to enhance the ethical and commercial management of supply chains. He explains how AI is reshaping the supply chain landscape by:
1. Untangling Complexity With Visibility – Supply chains can leak billions in expenditures, yet global companies struggle to gain clear insights to their spending amid too many data sources. RobobAI's AI-powered software aggregates data to provide 360º visibility of spend and payments data, identifying inefficiencies so companies can optimize spending for maximum impact.
2. Optimizing B2B Payment Experience – Suppliers may prioritize fulfilling orders from buyers who offer faster payments, resulting in better negotiating terms for buyers. RobobAI helps buyers and suppliers alike quickly and easily identify mutually beneficial payment options, including the ability to easily identify which suppliers accept virtual cards. This can help accelerate payments, improve liquidity, enhance security, and streamline payment processing for both parties.
3. Leveraging Data for Robust Risk Management – Global industries face a labyrinth of regulatory demands, making it extremely difficult to track compliance. RobobAI streamlines this process by consolidating compliance data and automating routine risk checks, allowing companies to quickly flag potential compliance breaches, take prompt corrective action, and preempt escalation.
About: Julian Harris, CEO and Founder of RobobAI, has a distinguished track record of establishing and growing successful technology businesses across Europe and Asia. Recognizing the critical juncture at which global organizations find themselves, Julian co-founded RobobAI, an innovative AI-driven platform designed to enhance the ethical and commercial management of supply chains. With over 30 years of experience, Julian's career highlights include scaling tech service companies like Search365, Groworx, and Inawisdom. He has also contributed significantly to the non-profit sector, serving as Chairman of Ozgreen and as a board member for Charities Aid Foundation (CAF) Australia. A Harvard Business School alumnus and BSc Engineering Honors recipient, Julian combines his expertise in scaling tech businesses with a deep commitment to sustainable development. He is passionate about sharing his knowledge and insights with organizations worldwide. Explore robobai.com.
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