Benefits of digital transformation
✓ Enhanced data collection
✓ Greater resource management
✓ Data-driven customer insights
✓ Better customer experience
✓ Encourage digital culture
✓ Increased profits
✓ Increased agility
✓ Improved productivity
Here to guide you through your journey
The benefits of your digital transformation are enormous. Get rid of old processes, hardware, and software. You will have a fast ROI. And you will stay compliant.
Mitigate your risk when selecting suppliers or do business with new ones. It is crucial and legally obligatory to perform checks on your suppliers and business partners. A simple and digital Supplier Risk Management (SRM) supports you with this important task. We know that you don’t want or need more Software. We developed an easy-to-use Web Application. Simply login with your credentials and perform your whole SRM process via your preferred web browser.
SYBX Group – Redefining Procurement.
The use of eProcurement technologies and software has lowered procurement cycle costs while improving efficiency.
Due to the installation of procurement management applications, real-time data is now flowing seamlessly.
Thanks to the digitalization of procurement, best practices and openness have never been easier to implement than they are now.
Data analysis, demand forecasting, and procurement management have become more of a science than a risk thanks to machine learning, Big Data, and AI. In addition, the eProcurement system is now more readily available thanks to cloud-based technologies.
The goal of the digital supply chain is to integrate and make visible every aspect of the movement of goods.
The step to this critical element of Industry 4.0 is big data. Finally, companies have the tools to describe the current state of their supply chains.
For example, demand through the chain can be better-anticipated thanks to more sophisticated signals from the market, which translates to demand production capacity, storage, logistics needs, and changes in raw-materials requirements.
Companies are required by law to adequately comply with human rights and certain environmental due diligence obligations along their supply chain. Completing due diligence obligations is not a one-time and static process, but an ongoing and dynamic one.
The company must publish the report to be prepared on its website and also submit it to the Federal Office of Economics and Export Control (BAFA).
Starting in 2023, it will affect EVERY company. Ruled out in Germany at first, but soon to be European Union wide. Act now!
What are these fancy new technologies?
We summarized for you the most important new technologies. It is not rocket science. Convince yourself.
These two words are often used interchangeably, which leads to many muddles. For example, although RPA can improve procurement efficiency significantly, it is not necessarily deemed artificial intelligence. In other words, what’s the distinction?
For simplicity, consider AI to be a catch-all phrase that encompasses a wide range of concepts, including robotic process automation (RPA). AI may also be categorized based on how well it can mimic human intellect.
Human-like physical activity is imitated by Robotic Process Automation (RPA). That it can do a physical job again and over again is what distinguishes it from others.
Information is stored on every block in the blockchain network, with each block containing the hash of its preceding block. By definition, a hash is an exclusive mathematical code belonging to a particular block. Therefore, if the information within a block is altered, the block’s hash will also have to undergo alteration. Thus, this linking of blocks via exclusive hash keys gives blockchain strong protection.
Although transactions occur on a blockchain, we have designated network „nodes“ responsible for validating each transaction. These nodes use the model of „proof-of-work“ in processing and validating every transaction on the network. For a transaction to be validated, each block must correlate with the hash of the previous block. In this case, the transaction will only occur if the hash is accurate.
By definition, a smart contract is a computer code between two or more entities run on blockchain technology, consisting of a set of fixed rules agreed upon by the participating entities. As the smart contract is executed, it will generate the needed output if these fixed rules are met.
A smart contract is built on a computer code that permits decentralized automation, which facilitates, verifies, and enforces the conditions of the principal agreement made by two or more parties. So if you want to exchange valuables, like property, shares, or even money, smart contracts will assist you in doing so transparently while removing the presence of a middleman (or third party), thus making the process free of conflict.
Past performance does not predict future results
Invest now to be part of the upcoming challenges.
Allocate your budget for digitalization initiatives and see how fast you will have an outstanding ROI. Be future-ready and proof. Start now.
Procurement 4.0 – as a book
Because Procurement and Purchasing and the supply chain are crucial in today’s fast-changing world, this book gives you a comprehensive overview of what Procurement and Purchasing are.
Everything you need to know
The newest book publication of Dennis Roßbach within the „ Cuvillier Verlag“ in Göttingen, Germany. Procurement 4.0 and many more topics on digitalization.
Where to purchase:
Verzeichnis Lieferbarer Bücher
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