JAGGAER drives Autonomous Commerce revolution

Global procurement specialist JAGGAER has unveiled its vision for 2022 with Autonomous Commerce, a self-governing B2B commerce experience between buyers, suppliers, things (IoT) and partners.

Within the past two decades, 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.

This transformation, known as the consumer commerce revolution, was borne of online marketplaces, world class business processes and intelligent automation.

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

“Enterprise buyers need more dependable sources of supply, greater selection and lower prices,” Bureau said.

He continued that 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,” he explained.

“It’s as simple as shopping online at home, which is what we want,” agreed Stephen Mole of Balfour Beatty, a JAGGAER customer.

Leveraging AI & machine learning, JAGGAER’s Digital Mind solution delivers smart-match recommendations that help buyers reduce supplier risk and suppliers grow their revenues.

The solution also autonomously executes many of the repetitive, behind-the-scenes tasks. This frees employees to focus on more strategic, high-value activities.

“For decades, procurement teams have been asked to do more with less,” said Jason Busch, CEO of Spend Matters.

“But in the pandemic era, the ‘asks’ have increased further, even as private and public sector organisations confront hiring and retention challenges at all levels of the org chart,” he said.

“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,” he continued.

Three years ago, JAGGAER laid out a vision for what an Autonomous Commerce world would look like for enterprises.

Dawn Andre, Chief Product Officer at JAGGAER, said that Autonomous Commerce calls for solutions that are Networked, Intelligent, Comprehensive and Extensible.

“We’ve been deploying solutions that embody these principles ever since,” Andre said.

“Now that we’re well on our way to delivering on the promise of Autonomous Commerce, we decided to unveil our strategy publicly,” he explained.

“We’re excited to be leading the Autonomous Commerce revolution and putting our customers in a position to thrive during this transformational shift,” he concluded.

JAGGAER connects over five million global suppliers on its Enterprise Commerce Network. In 2021, over $500 billion worth of goods flowed its network.