LONDON, Oct. 17, 2023 /PRNewswire/ -- In today's fiercely competitive business landscape, Market Dojo, a global procurement software provider, unveils a groundbreaking integration of Artificial Intelligence (AI) into its renowned sourcing tool Market Dojo Sourcing, promising a paradigm shift in procurement and eAuctions. This innovative development is set to empower businesses to optimise their procurement and finance operations and drive sustainable success in an era of rising costs and intense competition.
The integration of AI within Market Dojo Sourcing, supplier questionnaire functionality is a strategic step towards enabling smart supplier selection, dynamic questionnaires, and hassle-free question creation. This evolution aims to revolutionise the management and value creation of eAuctions and tenders, where AI algorithms will meticulously select the most suitable suppliers based on comprehensive criteria, enhancing the procurement journey for organisations.
"We are proud to introduce AI functionality within our supplier questionnaires, propelling procurement into a new era of efficiency and intelligence," stated Ben Harvey, Senior Product Manager at Market Dojo. "This is a testament to our commitment to provide our customers with tools that optimise value delivery and make their lives easier. It's just the beginning of the impactful applications we envision for the future."
Key Features of AI Integration:
Dynamic Questionnaires: The AI-powered feature centralises questions, generates ideal questionnaire formats, and streamlines the process, saving time and tailoring the questionnaire to specific needs, ensuring best-in-class practices are followed.
Hassle-Free Question Creation: AI functionality allows users to specify key topics, and the tool generates and integrates relevant questions, eliminating the need for manual question formulation and enhancing the efficiency of the procurement process.
Smart Supplier Selection: in the near future AI algorithms will aid in meticulous supplier selection for eAuctions based on a comprehensive array of criteria, ensuring only the most qualified suppliers are invited to participate, thus increasing the likelihood of securing advantageous procurement deals.
Elevating Procurement
As businesses seek innovative avenues to optimise operations, the adoption of AI-driven sourcing represents a strategic move towards achieving more effective, efficient, and successful procurement processes. Embracing these cutting-edge technologies will undoubtedly position organisations at the forefront of modern procurement practices, harnessing both the old world and the new with real-world benefits.
"We invite our customers to experience this groundbreaking functionality firsthand in Beta mode. Reach out to your dedicated account manager today," urged Ben Harvey.
To witness the transformative potential of this first AI integration, watch the short demo video https://youtu.be/d2UiEION5V0.
About Market Dojo
The global procurement software provider focused on digitising and automating inefficient sourcing and supplier management processes. Their on-demand, best-of-breed solutions incorporate technologies like Artificial Intelligence (AI) to control costs, drive increased productivity, enhance visibility, reduce risk, and improve collaboration. Market Dojo operates worldwide, headquartered in Stonehouse, UK, and is 51% owned by Esker, a global cloud platform. For more information on Market Dojo and its best-of-breed solutions, visit marketdojo.com. Follow Market Dojo on LinkedIn and join the conversation on Market Dojo's blog.
Media inquiries: David Smith; David.smith@marketdojo.com; +44 (0) 117 230 9200
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