SAP Spend Connect Live is the industry’s premier spend management event — a reputation that is well earned. And this year will be no exception.
Once again, we are prepared to showcase groundbreaking innovations that will revolutionize the landscape of spend management. As I continue to engage with our customers, their enthusiasm for our latest offerings helps validate our commitment to delivering solutions that streamline processes and empower businesses to achieve their full potential.
At SAP our focus is on automating tedious, time-consuming tasks, allowing you to concentrate on the strategic decisions that drive your organization forward. SAP continues to invest heavily in innovations across the spend management and business network portfolio, including new artificial intelligence (AI) capabilities and seamless integrations, enabling users to navigate uncertainty, seize optimization opportunities, and simplify processes. Our goal is to give you the freedom to shape your business’s future without the distraction of day-to-day operational noise.
Betting Big on Your Success with SAP
During my keynote, I outlined our product strategy for the coming year, emphasizing three key pillars: Data, Intelligence, and Suite. These focus areas are a direct response to the valuable input we’ve received from customers. I am confident that our continuing investments in these areas will provide them with the insights needed to make informed, strategic decisions that propel their organization to new heights.
Our newest capabilities across our intelligent spend management solutions enable customers to gain visibility across all of their processes, eliminating fragmented touchpoints that hinder progress.
As Mickey North Rizza, group vice-president of Enterprise Software at IDC, recently shared, “SAP continues to dominate the procurement applications space as measured by market share because customers want a seamless user experience with which to conduct the full spectrum of their spend management/procurement activity. When layering in the breadth of SAP’s industry experience, the expansive business network, and direct sourcing capabilities, SAP has clearly earned its place.”
I couldn’t agree more. Our commitment to maintaining our position as the industry standard in spend management is unwavering, and we will continue to set the benchmark for providing a smooth, efficient user interface while delivering unparalleled visibility into every aspect of spend.
Now, let’s dive into this year’s announcements.
Generative AI Transforms the Source-to-Pay Process
SAP is dedicated to delivering best-in-class solutions infused with AI, empowering you to prioritize strategic initiatives over mundane tasks. We understand and hear the concerns surrounding data security when implementing AI, which is why we have made no compromises in ensuring our AI capabilities set the standard for compliance. From third-party advisory boards to adhering to the UNESCO 10 Guiding Principles for Ethical AI and singing the EU AI Pact, we enable customers to harness the power of AI without sacrificing control over their data.
SAP’s generative AI copilot Joule will be seamlessly integrated across SAP Ariba, SAP Business Network, and SAP Fieldglass starting in Q4 of 2024. Joule will enable users to manage their most important tasks quickly and accurately across all areas of our spend management portfolio.
In SAP Ariba, users will be able to use generative AI-infused capabilities to create RFPs and request help with routine inquiries and surface risks. These capabilities will also provide buying recommendations along with comprehensive supplier summaries from different data sources. In addition, sustainability scorecard from SAP Ariba ensures that customers can make informed decisions that align with their organizations’ environmental, social, and governance (ESG) objectives.
With Joule, SAP Fieldglass users can take advantage of template recommendations to generate job postings and SOWs with pre-filled information, saving precious time. Users can now request assistance and insights in natural language, and immediately receive responses from Joule directly from the SAP Help Portal. It is now possible to ask Joule how to create a job posting and receiving accurate, step-by-step instructions complete with links and resources.
SAP Business Network will use Joule to help with logistics and asset management tasks. Joule provides SAP Business Network users a natural language interface and navigation for scenarios such as status requests and queries, supporting freight orders, freight bookings, invoice disputes, equipment, notifications, and work orders. It will also provide insights into rejected invoices to reduce manual intervention for errors. Suppliers can dive into potential business opportunities based on keyword matching that selects best-fit profiles for RFIs.
Streamlining Procurement with SAP Ariba Intake Management
Most companies have a complex landscape of disparate and siloed solutions for handling procurement needs such as purchase requests, contract processing, or helping onboard a new services provider. Typically, employees don’t know which platform, portal, or system will handle their request because it isn’t a task they perform regularly. Hours of time may be wasted trying to figure out how to make the request in the first place and track down subsequent status updates.
But no more: SAP Ariba Intake Management, a brand-new solution built on SAP Business Technology Platform, will automate procurement request creation and provide process orchestration, including routing and support across diverse procurement landscapes and complex workflows. By connecting different systems into one central location for procurement inquiries and status updates, employees can adhere to your organization’s policies and comply with necessary regulations without the need for time consuming manual corrections. SAP Ariba Intake Management will offer one pane of glass for status updates and requests, making procurement orchestration simpler and more intuitive. Scheduled to be available in Q1 of 2025, the solution will offer out-of-the-box integration with other SAP solutions and a robust set of connectors for third-party integration.
Empowering Suppliers with SAP Business Network, Promote Subscription
We announced a new promote subscription for the SAP Business Network, designed to deliver immediate value to suppliers, helping them to find new business, improve match potential, and build relationships with buyers using the network catalog. Through the promote subscription, suppliers will receive recommendations to improve discoverability, advanced search results, supplier profile verification, and network catalog APIs. With the help of generative AI tools, suppliers can now load their full suite of offerings into the network catalog faster and with enhanced product descriptions and summaries. The new promote subscription will also help suppliers identify sales opportunities based on regional search data and use advanced insights to track business growth on the network.
Elevating External Workforce Management with SAP Fieldglass Analytics Add-On
SAP Fieldglass delivers a new, enhanced analytics capability with next-level insights into your external workforce. The analytics add-on with AI capabilities will help businesses meet sustainability and human rights goals, acquire talent quickly, and implement multi-channel talent acquisition strategies. Users can benchmark and predict external talent scenarios, review performance against KPIs, track trends against industry averages, and monitor sustainability and compliance initiatives.
As we continue to listen to our customers and invest in our spend management and business network solution offerings, our commitment to setting the standard for spend management software remains steadfast. We are committed to providing innovative solutions that help our customers collaborate strategically with their business partners, enhance productivity, and improve compliance.
To learn more about these new innovations, read “Innovations in Spend Management from SAP Help Customers Improve Productivity, Gain Insights and Boost Growth.”
If you couldn’t attend SAP Spend Connect Live in Las Vegas, sign up here for the virtual experience on October 24 to access live and on-demand content from across content tracks. Join us as we continue to shape the future of spend management together.
Manoj Swaminathan is president and chief product officer for Intelligent Spend and Business Network at SAP.