- Published on September 2, 2024
- In Deep Tech
How Joule is Helping SAP Find Moat in Spend Management
SAP customers are now reaping the benefits of Ariba, Concur and Fieldglass – companies which SAP has acquired over the years – under one platform.
- By Pritam Bordoloi
In today’s fast-paced world, it is vital for organisations to optimise procurement, manage supply chains and control costs effectively. For instance, cocoa prices have surged over 400% this year, posing a significant challenge for chocolate manufacturers.
Spend management tools provide comprehensive visibility into a company’s spending patterns, streamlining procurement processes. Generative AI could further optimise spend management as it can provide predictive analytics, supplier recommendations and enhanced negotiations strategies.
This is exactly what SAP has done. The company has consolidated all aspects of spend management under one umbrella, calling it Intelligent Spend and Business Network (ISBN). And now, it has thrown generative AI into the mix.
SAP customers are now reaping the benefits of Ariba, Concur and Fieldglass – companies which SAP has acquired over the years – under one platform coupled with SAP Business Network.
While spend management is n
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Pritam Bordoloi
I have a keen interest in creative writing and artificial intelligence. As a journalist, I deep dive into the world of technology and analyse how it’s restructuring business models and reshaping society.
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