{"id":111489,"date":"2025-02-10T12:37:05","date_gmt":"2025-02-10T11:37:05","guid":{"rendered":"https:\/\/www.KGM Strategy.com\/?p=111489"},"modified":"2025-02-17T08:44:45","modified_gmt":"2025-02-17T07:44:45","slug":"cut-costs-boost-efficiency-how-genai-is-revolutionizing-indirect-spend","status":"publish","type":"post","link":"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-15\/cut-costs-boost-efficiency-how-genai-is-revolutionizing-indirect-spend\/","title":{"rendered":"Cut Costs &#038; Boost Efficiency \u2013 How GenAI is Revolutionizing Indirect Spend"},"content":{"rendered":"    <aside class=\"related-articles\" >\n        <span class=\"related-articles-button\" > Further articles in the issue <\/span>\n        <h3 class=\"related-articles-title\"> Further articles in the issue <\/h3>\n        <div class=\"related-articles-content\">\n            <div class=\"row horizontal-gap\">\n                                    <div class=\"article-box col-6 col-sm-4 col-md-12\">\n                        <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-15\/inverto-office-paris-has-all-the-cornerstones-of-a-successful-procurement-function\/\" class=\"article\" target=\"_blank\">\n                            <img decoding=\"async\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/10\/Inverto-office-paris-325x440.png\" class=\"img-fluid\" loading=\"lazy\" \/>\n                            <div class=\"overlay\"><\/div>\n                        <\/a>\n                    <\/div>\n                                    <div class=\"article-box col-6 col-sm-4 col-md-12\">\n                        <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-15\/unlock-hidden-value-transform-your-pe-portfolio-with-ai\/\" class=\"article\" target=\"_blank\">\n                            <img decoding=\"async\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/10\/Unleashing-Gen-AI-325x440.png\" class=\"img-fluid\" loading=\"lazy\" \/>\n                            <div class=\"overlay\"><\/div>\n                        <\/a>\n                    <\/div>\n                                    <div class=\"article-box col-6 col-sm-4 col-md-12\">\n                        <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-15\/unlock-the-future-of-procurement-with-ai\/\" class=\"article\" target=\"_blank\">\n                            <img decoding=\"async\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2025\/02\/Ai-in-procurement-325x440.png\" class=\"img-fluid\" loading=\"lazy\" \/>\n                            <div class=\"overlay\"><\/div>\n                        <\/a>\n                    <\/div>\n                            <\/div>\n        <\/div>\n    <\/aside>\n\n\n<div class='container  py-3'><div class=\"row \"><div class=\"col-lg-12\"><p>&nbsp;<\/p>\n<h2><span style=\"color: #009eb4;\">Unlock the Full Potential of AI-Driven Procurement in IT, Marketing, and Customer Service<\/span><\/h2>\n<p>As businesses navigate financial instability and economic uncertainties, cost reduction is a top priority. While large budgets are often scrutinized, <strong>a hidden revolution is taking place in indirect spend<\/strong>\u2014driven by <strong>Generative AI (GenAI)<\/strong>.<\/p>\n<p>GenAI is transforming professional services such as <strong>software development, marketing, and customer service<\/strong>, delivering <strong>20% to 45% efficiency gains<\/strong>. Yet, many service providers <strong>fail to pass these savings on to their clients<\/strong>.<\/p>\n<p><strong>Want to ensure you benefit from AI-driven cost reductions?<\/strong> Download our latest Supply Management Insights magazine to discover how procurement leaders can optimize IT, marketing, and customer service spend with GenAI.<\/p><\/div><\/div><\/div>\n<div style=\"background-color: #009eb4;\">\n<div class='container  py-3'><div class=\"row \"><div class=\"col-lg-12\"><p>&nbsp;<\/p>\n<h2><span style=\"color: #ffffff;\">What\u2019s Inside This Edition?<\/span><\/h2>\n<ul class=\"checklist\">\n<li><span style=\"color: #ffffff;\"><strong><span style=\"color: #bde254;\">IT Development<\/span>: Maximizing Efficiency with GenAI by evaluating service providers\u2019 AI strategies<\/strong><\/span><\/li>\n<\/ul>\n<ul class=\"checklist\">\n<li><span style=\"color: #ffffff;\"><strong><span style=\"color: #bde254;\">Marketing Transformation<\/span>: AI as a Data Analyst &amp; Creative Partner to maximize <\/strong>efficiency and reduce wasted ad spend.<\/span><\/li>\n<\/ul>\n<ul class=\"checklist\">\n<li><span style=\"color: #ffffff;\"><strong><span style=\"color: #bde254;\">Customer Service 2.0<\/span>: The Chatbot Revolution \u2013 and how businesses can leverage savings<\/strong><\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p><\/div><\/div><\/div>\n<\/div>\n<div class=\"mt-5 mb-lg-13 overflow-hidden full-width\" is=\"image-text-animated\">\n    <div class=\"container overflow-visible\">\n        <div class=\"text-center\">\n            <h2>Ensuring You Capture AI-Driven Cost Savings<\/h2>\n        <\/div>\n                    <div class=\"image-with-text-01\">\n                <div class=\"row justify-content-between\">\n                    <div class=\"col-md-6\">\n                                                    <div class=\"image\">\n                                <span  style=\"background-color: rgb(0, 158, 180)\" \">\n                                    <figure class=\"animate\">\n                                        <img loading=\"lazy\" decoding=\"async\" width=\"663\" height=\"524\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2025\/02\/Ai-code.png\" class=\"img-fluid\" alt=\"\" \/>\n                                    <\/figure>\n                                <\/span>\n                            <\/div>\n                                            <\/div>\n                    <div class=\"col-md-6 col-xl-5 align-self-center\">\n                        <h3><\/h3>\n                        <p>To maximize AI-driven cost savings, businesses must actively negotiate cost reductions that reflect AI-enabled efficiency gains. Continuous supplier screening ensures partnerships with AI-driven vendors for optimal value. Early adopters of AI-powered procurement gain a competitive edge through cutting-edge technology and cost efficiencies. Embracing these strategies positions businesses for innovation and long-term savings.<\/p>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n            <\/div>\n<\/div>\n<div class='container  py-3'><div class=\"row \"><div class=\"col-lg-12\"><div class=\"icon-boxes  \" data-moduleID=\"111640\" is=\"summary-box\">\n    <div class=\"summary-box-padding overflow-visible\">\n        <div class=\"icon-box has-icon pos-left fadeIn\" style=\"border-color: rgb(77,189,189);\" data-animated-icon=\"false\">\n            \n                <div class=\"icon\">\n                    <div class=\"inner\">\n\n                                                    <img decoding=\"async\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2025\/02\/SMI-15-green.png\" width=\"2000\" height=\"600\" loading=\"lazy\" alt=\"Icon - The article is part of our magazine issue &quot;AI IN PROCUREMENT \u2013 next level solutions&quot; In addition to the cover story, you will also receive the following articles when you download the issue:\" \/>\n                        \n                    <\/div>\n                <\/div>\n\n            \n                            <div is=\"accordion\">\n                    <div class=\"accordion-item\">\n                        <div class=\"accordion-header\" id=\"heading-99ef0f40b0cee6ebbe0b4dcbdbae1147\">\n                            <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-99ef0f40b0cee6ebbe0b4dcbdbae1147\" aria-expanded=\"false\" aria-controls=\"collapse-99ef0f40b0cee6ebbe0b4dcbdbae1147\">\n                                <span class=\"accordion-button-label\">\n                                    <span>The article is part of our magazine issue &quot;AI IN PROCUREMENT \u2013 next level solutions&quot; In addition to the cover story, you will also receive the following articles when you download the issue:<\/span>\n                                <\/span>\n                            <\/button>\n                        <\/div>\n                        <div id=\"collapse-99ef0f40b0cee6ebbe0b4dcbdbae1147\" class=\"accordion-collapse collapse\" aria-labelledby=\"heading-99ef0f40b0cee6ebbe0b4dcbdbae1147\">\n                            <div class=\"accordion-body\">\n                                <ul class=\"checklist\">\n<li><strong>AI in Procurement:<\/strong> How GenAI cuts through the complexity<\/li>\n<li><strong>Experts on AI:\u00a0<\/strong>Melih Yener (BCGX)<\/li>\n<li><strong>Generative AI in the Healthcare Sector:<\/strong> Unveiling New Opportunities<\/li>\n<li><strong>Pick up speed:<\/strong> Optimizing indirect spend with GenAI<\/li>\n<li><strong>Untapped potential for Private Equity:<\/strong> From barriers to breakthroughs &#8211; Unleashing GenAI across portfolios<\/li>\n<li><strong>KGM Strategy Office Paris:<\/strong> Interview with Isabelle Pinto Carradine<\/li>\n<\/ul>\n\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/div>\n\n            \n        <\/div>\n    <\/div>\n<\/div>\n\n<\/div><\/div><\/div>\n<p>&nbsp;<\/p>\n<section class='bg-light py-3 pb-xl-0'><div class='container  py-3'><div class=\"row \"><div class=\"col-lg-6\"><p><span style=\"color: #009eb4;\"><strong id=\"download\" class=\"fs-4\">Fill out the contact form to receive the magazine issue. You will then receive the entire issue by e-mail.<\/strong><\/span><\/p>\n<p><script charset=\"utf-8\" type=\"text\/javascript\" src=\"\/\/js-eu1.hsforms.net\/forms\/embed\/v2.js\"><\/script><br \/>\n<script>\n  hbspt.forms.create({\n    portalId: \"143321638\",\n    formId: \"105484ac-bd44-4cef-aaf3-858c72414f40\",\n    region: \"eu1\"\n  });\n<\/script><\/p><\/div><div class=\"col-lg-6\"><p><span style=\"color: #a0d60a;\"><strong>\/\/\u00a0Preview <\/strong><\/span> | Table of contents &amp; editorial<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/player.flipsnack.com?hash=RTk4RjhEODhCN0ErY3BhYjVpbTFjaQ==\" width=\"100%\" height=\"480\" frameborder=\"0\" scrolling=\"no\" seamless=\"seamless\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p><\/div><\/div><\/div><\/section>\n<p>&nbsp;<\/p>\n\n    <div class=\"container authors-section fadeIn \" is=\"authors-and-partners\">\n        <div class=\"description row\">\n            <h2>\n                                                            Authors\n                                                <\/h2>\n        <\/div>\n\n        <div class=\"row\">\n                            <div class=\"mb-5 col-md-6 mb-md-0\">\n                    <div class=\"author\">\n                                                    <figure>\n                                <img loading=\"lazy\" decoding=\"async\" width=\"250\" height=\"250\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2021\/11\/Gustav_Scheffler_350x440px-250x250.png\" class=\"img-fluid\" alt=\"\" \/>\n                            <\/figure>\n                        \n                        <h3>Gustav Scheffler<\/h3>\n                        <p class=\"person-position\">Principal<\/p>\n                                                    <div class=\"short-desc\"><p>is a Principal at the Munich office and an expert in the procurement of IT and digital services. He advises major global companies in the pharmaceutical and medical technology industries, process manufacturing and fashion.<\/p>\n<\/div>\n                                                <div class=\"contact-information\">\n                                                                                                <a href=\"mailto:contact@kgmstrategy.com\" class=\"mail-link\">contact@kgmstrategy.com<\/a>\n                                                                                                                                                <\/div>\n                                                    <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-15\/cut-costs-boost-efficiency-how-genai-is-revolutionizing-indirect-spend\/\" class=\"btn btn-outline-secondary text-terciary\">Contact<\/a>\n                                            <\/div>\n                <\/div>\n                            <div class=\"mb-5 col-md-6 mb-md-0\">\n                    <div class=\"author\">\n                                                    <figure>\n                                <img loading=\"lazy\" decoding=\"async\" width=\"250\" height=\"250\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2025\/01\/Hannah-Schomberg-cut-250x250.png\" class=\"img-fluid\" alt=\"\" srcset=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2025\/01\/Hannah-Schomberg-cut-250x250.png 250w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2025\/01\/Hannah-Schomberg-cut-75x75.png 75w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/>\n                            <\/figure>\n                        \n                        <h3>Hannah Schomberg<\/h3>\n                        <p class=\"person-position\"> Project Manager<\/p>\n                                                    <div class=\"short-desc\"><p>is a Project Manager in the Cologne office and mainly advises companies from the consumer goods industry. As an expert for indirect procurement, she focuses primarily on the procurement of IT hardware and software.<\/p>\n<\/div>\n                                                <div class=\"contact-information\">\n                                                                                                <a href=\"mailto:contact@kgmstrategy.com\" class=\"mail-link\">contact@kgmstrategy.com<\/a>\n                                                                                    <\/div>\n                                                    <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-15\/cut-costs-boost-efficiency-how-genai-is-revolutionizing-indirect-spend\/\" class=\"btn btn-outline-secondary text-terciary\">Contact<\/a>\n                                            <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>As businesses navigate financial instability and economic uncertainties, cost reduction is a top priority. While large budgets are often scrutinized, a hidden revolution is taking place in indirect spend\u2014driven by Generative AI (GenAI).<\/p>\n","protected":false},"author":10,"featured_media":111501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[700,711],"tags":[],"class_list":["post-111489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article","category-indirect-spend"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/posts\/111489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/comments?post=111489"}],"version-history":[{"count":13,"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/posts\/111489\/revisions"}],"predecessor-version":[{"id":111912,"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/posts\/111489\/revisions\/111912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/media\/111501"}],"wp:attachment":[{"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/media?parent=111489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/categories?post=111489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/tags?post=111489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}