Question
Content management in the procurement process is crucial as it helps in organizing and controlling all the necessary data related to procurement. This includes supplier information, contracts, purchase orders, invoices, and more. It ensures that all procurement-related information is easily accessible, up-to-date, and accurate. This can lead to improved efficiency, reduced errors, and better decision-making in the procurement process.
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After these puzzles were solved, the IBM team came up with the following procurement solutions: master data management, analytics and insights, sourcing and contracting, content management, order management and helpdesk and payables. The new procurement process allowed IBM to deliver $67 million in savings in the first year, reduce procurement costs by 13% and achieve an immediate four-point improvement in Net Promoter Score (NPS).
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