VARO BANK
PROCUREMENT’ S FUTURE
The defining trend on the horizon for procurement is the push toward achieving a fully unified, closed-loop view of the entire vendor lifecycle. Historically, enterprise software has forced companies to look at vendor relationships through fragmented pieces: corporate budgeting happens in one tool, contracting happens in a CLM, invoicing sits in an AP ledger and spend analysis is done on an offline spreadsheet.
“ The major milestone we want to explore is connecting invoices directly to contract obligations. To truly maximise value, manage results and drive strategic spend consolidation, we want to test how effectively an AI agent can give us a true 360-degree view of the vendor relationship,” says Riva.
She adds:“ We are highly curious to evaluate how fluidly these autonomous agents can read across contract clauses and line-item billing statements to automatically enforce SLA credits and catch billing anomalies without requiring a heavy access cost.”
Riva also wants to explore tool workflows that can dynamically ingest data from external market intelligence sources. The goal is to see if an AI platform can autonomously parse macro-economic data and industry changes to best inform procurement on market trends, while delivering proactive alerts on risk profile shifts within our current vendor base.
“ It represents a frontier we want to test to see if procurement can transform into a predictive, self-optimising financial engine,” says Riva. varomoney. com 11