The digital disruption of procurement is in full swing, and with it, the prominence of data has grown manifolds. In recent years, organizations are striving for an end-to-end solution that encompasses all the aspects of sourcing and procurement, such as strategy, processes, content, and technology. Carving a niche in the procurement arena, Accenture provides deft support for an organization’s procurement strategies by integrating business, technology, and operations in a single platform. The global software giant offers services and solutions for various aspects of business operations while delivering industry-leading procurement solutions that leverage artificial intelligence (AI), data analytics, and other best-in-class technology tools. Their cutting-edge solutions empower businesses to achieve higher levels of operational efficiency across the enterprise. The company offers efficient procurement strategies, value targeting, operating model blueprint, supply base management, risk strategies, and numerous other functions through its intelligent sourcing and procurement solution, SynOps.
SynOps is a human-machine operating engine that integrates people, technology, data, and intelligence to deliver appropriate business decisions and enable businesses to gain most out of their return on investment (ROI). The automation solution eliminates manual processes in procurement operations and automates repeated and redundant tasks to improve efficiency and bring forth cost-savings across processes. The implementation of smart technologies like AI, data analytics, and multiple other easy-to-use technology tools allow SynOps to deliver real-time business insights, enabling the clients to take informed actions for seamless operations. The platform also assists in decision making through the collection, monitoring, storage, analysis, and reporting of structured and unstructured data from multiple sources. The operating engine sits on top of a company’s existing databases and record keeping systems to take an order, generate an invoice, correct any errors in the invoice, and email it to the customer automatically.
Accenture leverages the power of the cloud to offer source-to-pay capabilities through the SynOps solution that helps to reshape a company’s procurement process and boost digital transformation strategies. SynOps also provides able support for the supplier relationship management by balancing risks and value creation opportunities.
SynOps is a human-machine operating engine that integrates people, technology, data, and intelligence to deliver appropriate business decisions and enable businesses to gain most out of their return on investment
The features of the platform enhance the visibility across the procurement lifecycle, which helps to improve transparency, ongoing cost, and supplier performance. In one of the instances, Accenture helped one of its clients, a food and beverages company, enhance end-to-end transaction transparency across their procurement operations. The platform offered precious insights into the business processes of the client, enabling them to make the most of the market opportunities and boost growth. The operating engine offered features like process transformation, automation, and analytics, which assisted immensely in driving productivity and customer experience to a great extent. David P. Rowland, Interim CEO at Accenture, says, “There’s a reason our clients choose us. Our people have the courage, imagination, and expertise to bring about true transformation.”
To add teeth to its services, Accenture introduced B2P, a blockchain-powered procurement solution in collaboration with Digital Ventures, a Thai fin tech firm. B2P empowered businesses to facilitate buying and selling of products with impeccable transparency and little to no error. Furthermore, Accenture also launched Alma, a knowledge-first digital agent for sourcing and procurement. Alma offers an easy-to-use chat interface that can automate the procurement helpdesk and provide guidance to businesses on the ways to complete tasks based on a procurement organization’s rules and policies. Going forward, Accenture plans to launch a next-generation digital procurement solution that can offer advanced decision making by analyzing data from outside a firm’s ecosystem.