Trend Report

Modern Smart Applications Are Transforming Supplier Value Management

SVM Vendors Are Using AI To Liberate Sourcing Professionals By Automating Mundane Tasks

April 21st, 2021
With contributors:
Pascal Matzke , Andrew Bartels , Kjell Carlsson, PhD , Anna Vyshnevska , Kara Hartig

Summary

The software category that Forrester calls supplier value management (SVM) is seeing a wave of innovation, from both established players and VC-backed new entrants, using various types of AI. The best early examples automate high-volume tasks that require some skill but are mostly mundane, such as invoice processing and contract redlining. The next wave of innovation will go further, alerting them to issues and risks that require action. Tech leaders should focus on use cases that liberate and empower skilled sourcing professionals to focus on more important, more interesting work, not on trying to replace them — fully autonomous procurement is much hyped but won't be the reality anytime soon.

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With
Andrew Bartels
Kjell Carlsson, PhD
Anna Vyshnevska
and Kara Hartig