Spend Matters: An Executive Guide to Evaluating AI

Artificial Intelligence (AI) is revolutionizing Contract Lifecycle Management (CLM) and Procure-to-Pay (P2P) processes. In CLM, AI automates contract analysis, aids in negotiation, and identifies risks. For P2P, AI optimizes purchasing, controls tail spend, detects fraud, and facilitates invoice matching. These AI solutions enhance efficiency, accuracy, and risk management while promoting sustainability. Organizations must consider sourcing, implementation, and cost management to leverage AI effectively in CLM and P2P. SAP commissioned an article by Spend Matters to discuss the key points around AI that procurement professionals should consider.