The originator of business computing , IBM , meanwhile , touts its procurement and strategic sourcing services as being digitally reinvented thanks to the application of technology , analytics and IBM ’ s own design thinking approach . With an experience that can learn over time thanks to access from real-time data , the user is able to make better informed decisions as part of the procurement process . Services offered by the company include analytics to improve the selection of suppliers and optimising the formation of contracts with them , as well as an approach to risk management that employs cognitive risk-monitoring technologies .
The cloud , then , represents a second wave of digitalisation following the onpremise solutions implemented from around the start of the new millennium . With software-as-a-service models proliferating , promising improved security and the easier implementation of new releases , as well as advanced features such as automation and machine learning , the cloud model of procurement software offers benefits just as great as the leap from analog to digital procurement .
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