JAGGAER unveils its Autonomous Commerce vision for 2022

JAGGAER unveils its 2022 and beyond vision for autonomous commerce, a self-governing B2B commerce experience between buyers, suppliers IoT and partners

In an announcement made by JAGGAER, the leading procure-to-pay (P2P) solutions provider has unveiled its vision for 2022 and beyond - Autonomous Commerce. 

What is Autonomous Commerce? 

Autonomous Commerce is a self-governing B2B enterprise commerce network of buyers, suppliers, and partners who are united together on a common, cloud-based platform.

Within the platform buyers and suppliers are credentialed, onboarded and ready to transact. By uploading vital information once, users can receive smart-match buy or sell recommendations that have been optimised based on historical performance ratings, costs, service levels, ESG goals, and risks, as well as a variety of other considerations. 

“Supply chain disruptions, materials scarcity and the global talent shortage are forcing business leaders to rethink our traditional enterprise commerce model,” said Jim Bureau, CEO of JAGGAER. 

“Enterprise buyers need more dependable sources of supply, greater selection and lower prices. Enterprise suppliers need a continuous stream of smart-match recommendations aligning their capabilities with specific buyer needs in order to grow their revenues and expand their businesses. The Autonomous Commerce revolution, akin to the consumer commerce revolution that came before it, is delivering these benefits to both enterprise buyers and suppliers.”

Leading the Autonomous Commerce revolution

“Over the past twenty years, consumer commerce has evolved from a brick-and-mortar retail experience, characterised by limited selection and inconvenience, to a fully realised e-commerce experience, characterised by greater selection, lower prices and elevated service levels,” explained JAGGAER.

This transformation was driven by online marketplaces, world-class processes, and intelligent automation. Applying these same principles, JAGGAER is committed to leading the Autonomous Commerce revolution. 

Currently, JAGGAER has over five million global suppliers on its enterprise commerce network, providing access to a myriad of supplies. 

JAGGAER’s Autonomous Commerce: The technology behind the idea

JAGGAER’s Digital Mind solutions harness AI and machine learning to provide users of the enterprise commerce network with smart-match recommendations to help buyers reduce supplier risks and grow their revenues. 

Digital Mind autonomously executes multiple repetitive tasks behind-the-scenes to facilitate enterprise commerce, mitigating the talent shortage and free employees to focus on strategic and high-value activities. 

“The types of investment that JAGGAER is making in AI and machine learning through Digital Mind and its Autonomous Commerce initiatives bring the promise of helping procurement teams to become more efficient while also identifying and executing on new opportunities to drive savings, cost avoidance and spend impact,” said Jason Busch, CEO of Spend Matters. 

“Three years ago, we laid out a vision for what an Autonomous Commerce world would look like for enterprises,” explained Dawn Andre, Chief Product Officer, JAGGAER. 

“Autonomous Commerce calls for solutions that are Networked, Intelligent, Comprehensive and Extensible. We’ve been deploying solutions that embody these principles ever since. Now that we’re well on our way to delivering on the promise of Autonomous Commerce, we decided to unveil our strategy publicly. We’re excited to be leading the Autonomous Commerce revolution and putting our customers in a position to thrive during this transformational shift,” concluded Andre.

Share

Featured Articles

COP28: Why suppliers are critical for net-zero

With the arrival of COP28, why are suppliers and procurement teams crucial in net-zero efforts?

Panasonic’s supplier diversity strategy

Panasonic’s Supplier Diversity Programme was established to ensure small businesses are offered the maximum opportunities to do business

US Army: What is the Army Contract Writing System?

The US Army Programme Executive Office for Enterprise Information Systems has deployed a new Army Contract Writing System (ACWS)

Gartner: Lack of procurement talent to meet future needs

Operations

Electrolux recognises excellence in supplier awards

Supply Chain Management

Candex funding echoes Amazon Business procurement report

Digital Procurement