Latin America on the road to process optimization thanks to Artificial Intelligence

Today, the implementation of artificial intelligence (AI) in business sourcing has become a fundamental tool to improve process efficiency and agility.

A study presented by HelloSafe, indicates that in the last five years, there has been a remarkable 250% increase in the adoption of AI globally by enterprises. This growth demonstrates the importance and positive impact that this technology is having on business management.

It is important to consider that business managers and purchasing and procurement managers are constantly facing challenges when managing and optimizing their company's procurement processes, which requires innovative solutions that allow them to obtain more effective and accurate results.

According to a report presented by IBM Global AI Adoption Index (IBM Global AI Adoption Index 2023), 29% of companies in Latin America have implemented artificial intelligence, while 43% are in the process of experimentation. 

These numbers indicate that the region shows considerable progress in the adoption of this technology, although it lags slightly behind the global trend, where 34% of companies already use artificial intelligence and 42% are in an exploratory stage.

The role of Artificial Intelligence in sourcing processes

The implementation of AI in enterprise procurement management offers numerous benefits. This technology has the ability to analyze large volumes of data in real time, providing valuable information for strategic decision making. 

In addition, the use of AI can automate and optimize procurement processes, reducing associated time and costs. The use of AI can perform tasks such as searching for suppliers, comparing prices and conditions, managing contracts and evaluating supplier performance, freeing up time and resources for procurement professionals. This allows them to focus on more value-added activities, such as strategic negotiation and supplier relationship management.

In this context, from wherEX we present ourselves as an innovative and efficient solution for enterprise procurement management. As a platform based on artificial intelligence, wherEX offers a wide range of functionalities specifically designed to facilitate and optimize the procurement processes.

One of the outstanding advantages of wherEX is its ability to connect companies with an extensive network of reliable suppliers. With more than 34,000 registered suppliers, the platform fosters competition among them, making it easier to find and select the right business partners. 

In addition to all the advantages mentioned above, our platform provides business managers and purchasing managers with access to reliable suppliers. This function is of vital importance, as it strengthens long-term business relationships and generates a positive impact on business conditions.