{"id":788,"date":"2024-04-09T15:29:38","date_gmt":"2024-04-09T15:29:38","guid":{"rendered":"https:\/\/www.titan-solutions.ch\/the-significance-of-bots-in-procurement\/"},"modified":"2024-04-09T15:29:38","modified_gmt":"2024-04-09T15:29:38","slug":"the-significance-of-bots-in-procurement","status":"publish","type":"post","link":"https:\/\/www.titan-solutions.ch\/de\/the-significance-of-bots-in-procurement\/","title":{"rendered":"The significance of Bots in procurement?"},"content":{"rendered":"\n

In the past decade, Software Robots (a.k.a Bots) have been rapidly influencing procurement processes, making them more streamlined and quicker. While allowing humans to work smarter on human-centric strategic processes, such as planning, innovation, or relationship management, various cognitive systems are steadily taking over approx. half of the organization\u2019s actual routine activities.<\/p>\n\n

Difference between Bots, RPA, NLP, ML & A.I.?<\/em><\/strong><\/p>\n\n

A Bot (short for Software Robot) is a program created to perform a task that usually involves interaction (e.g. verifying an Invoice, or placing a Purchase Order). Bots can be programmed to do almost anything where information is digitalized. Their biggest upside is the they can be applied across a couple of system environments.\u00a0RPA<\/strong><\/a>\u00a0is a type of software that imitates a task-related activity of a human within a process (e.g. log-in, copy\/paste, field entry etc.). NLP represents algorithms that can interpret, transform and generate human language. Machine Learning (ML<\/strong><\/a>) is more complex and its goal is to acquire knowledge (e.g. image\/speech recognition, medical diagnosis etc.). On the other hand,\u00a0A.I.<\/strong><\/a>\u00a0is driven by data, and it actually aims to become more intelligent, to simulate intelligence.<\/p>\n\n

What are Chatbots?<\/em><\/strong><\/p>\n\n

These types of bots are designed for \u201chuman\u201d interaction. Their main task is to handle an initial conversation with a human, and then forward their input to the back-end in order to be accomplished.<\/p>\n\n

There are different versions of chat-bots:<\/p>\n\n

Menu-based<\/em><\/p>\n\n

Most common type of Chat-bots available, used in the form of menus or buttons. Most of the time, they cover FAQ sections.<\/p>\n\n

Rule-based (linguistic)<\/em><\/p>\n\n

Predetermined by the language, wording, synonyms, and various conditions, their purpose is to create a scenario closest to a conversation. These chatbots are guided by a decision scheme where the user is given a set of predefined options\/questions that will take him to the answer. Currently, it is limited to typos and wrong keywords. The most famous one was FB messenger.<\/p>\n\n

Keyboard recognition<\/em><\/p>\n\n

This type of chat-bots can follow your typing in order to respond correctly. They utilize\u00a0NLP<\/strong><\/a>\u00a0<\/strong>to decide on the actual response to be sent to the user. Their biggest downside is the utilization of similar sentences and wording.<\/p>\n\n

Self-learning<\/em><\/p>\n\n

By using ML and A.I., these contextual chat-bots can remember your previous conversation and learn from it over time. They can automate more questions while requiring less data. The most common example is buying something on a daily basis, like ordering the food.<\/p>\n\n

\"No<\/figure>\n\n

Significance of Bots in Procurement?<\/em><\/strong><\/p>\n\n

Bots can have a substantial impact on all Procurement areas and business processes in general.<\/p>\n\n

(a)\u00a0Strategic Procurement Benefits<\/em><\/p>\n\n