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Digital Procurement: Beyond Platforms Signing up for an #eProcurement platform? That’s just the start of your digital journey. Today’s COOs want more—AI-driven automation and decision-making, strategic sourcing, spend analytics, and demand forecasting. At Lilo, we’ve seen firsthand how a robust digital procurement strategy can drive real value at every step. It can revolutionize how your team works, saves, and scales. We break down the essentials of a cohesive digital #procurement strategy in our blog: https://lnkd.in/g6gvk6kk  #ProcurementAI #StrategicSourcing #ProcurementGoals #DigitalProcurement

Scaling #ProcurementAI takes patience and a strategic mindset. Don't rush the process - a measured approach to embedding Procurement AI into existing workflows will allow assessment of its effectiveness in cutting costs, automating tasks, or improving top-down visibility without overwhelming the organization. Here’s a quick roadmap for procurement leaders: ▶️ Launch targeted proof of concepts ▶️ Focus on specific pain points ▶️ Run controlled tests before expanding ▶️ Fine-tune algorithms for optimal performance ▶️ Gradually scale to broader applications Head over to Lilo Blog to learn more about the best practices for AI in procurement: https://lnkd.in/g484PM4R #Procurement #SmartSourcing

Why is AI fast becoming a must-have in the world of procurement? The answer lies in its unparalleled ability to streamline and optimize your #ProcurementCycle. Historically, this complex cycle has been bogged down by manual reviews, time-intensive data analysis, and endless contract management. Now COOs and procurement leaders are keen to use AI because it can help streamline many stages from demand forecasting to task automation. Learn more about where AI makes the most difference in your procurement cycles: https://lnkd.in/dXgfiaFN #ProcurementAI #Procurement

Why Digital Transformation is a Top Priority for Procurement Leaders A recent PwC survey reveals a telling shift: after cost reduction and strategic sourcing, digital transformation ranks as a top priority for procurement leaders. So, what’s driving this move? ⚪ Process Simplicity & Efficiency (59%) ⚪ Transparency & Supply Chain Traceability (57%) ⚪ Cost Savings (47%) ⚪ Crisis Management (19%) ⚪ Compliance (16%) These aren’t just numbers—they’re signals of a broader shift toward smarter, more streamlined procurement processes. In a recent blog post, we’ve broken down actionable steps to help you build a strong digital procurement strategy: https://lnkd.in/g6gvk6kk   #DigitalProcurement #CloudProcurement #ProcurementAI

Can AI Really Make a Difference in your Procurement Cycle? Absolutely—and here’s why you should care. For years, procurement teams have grappled with manual tasks and disjointed processes. Even with digitization (stand-alone #ProcurementSoftware or #CloudProcurement Solutions), gaps remained.    Now, AI is stepping in to transform procurement cycles. It has the potential to turn time-consuming tasks into automated, efficient workflows. So, where does #ProcurementAI excel? ▶️ Smart Sourcing: RFPs and bid analysis can take days—AI does it in minutes. ▶️ Task Automation: From reorders to supplier communications, AI streamlines repetitive tasks; it frees up your team for strategic decision-making.  ▶️ Automated Demand Forecasting: No more guesswork. AI can analyze historical and market data to predict future needs with remarkable accuracy.  ▶️ Spend Optimization: AI reveals hidden patterns in spending to offer budget-saving recommendations that optimize your financial strategies. Check out the full article on the Lilo blog to understand how vertical AI can turn procurement from a tedious process into a streamlined powerhouse: https://lnkd.in/dXgfiaFN

We're hiring for multiple engineering roles at Lilo. We’re a curious, nerdy bunch that cares deeply about the problems we’re solving and the customers we’re building for. If you/someone you know is curious, collaborative and values growth, reach out to Enric Grau.

GMs, let Lilo take the grunt work off your plate. #hotels #GMs #purchasing #procurement #GLcoding #AI #GPO #hotel #operations #efficiency

Automation is transforming hotel operations, and Nadine ElAshkar, Co-Founder of Lilo, highlighted just how impactful automating GL coding can be. By eliminating manual processes, hotel GMs can save time and boost efficiency, allowing them to focus on what truly matters—enhancing the guest experience. Check out the full panel video for a closer look at how automation is shaping the future of hospitality! https://lnkd.in/gn3vvPK3

Thank you Forbes Business Council for sharing this piece.

Exciting times ahead for the hospitality industry! 🌟 Destination AI is just around the corner, and I will speaking there with some of the leading voice shaping the future of AI in hospitality. Don’t miss out—secure your spot before early registration ends! Join us in Washington, D.C. on Sept. 26. Tickets available at www.destinationai2024.com #DestinationAI2024 #Hospitality #AI #AIAgents #ProcurementAI #Innovation