Robo-advice, also known as ‘automated advice’ refers to the provision of financial advice with as little human interaction as possible. A strand of artificial intelligence, robo-advice offers guidance on the basis of mathematical rules and algorithms rather than human intelligence. Whilst algorithmic trading may have been around for many years, the concept of a ‘robo-adviser’ has only recently become a reality.
Being an ally comes in many different shapes and sizes, requiring involvement at both the micro and macro levels. Whether it means showing support by demonstrating interest in a cause important to a friend, or personally taking action to further their cause, allies strengthen each other through committed relationships and shared effort.
As procurement professionals, we are always striving to achieve the best total cost of ownership with the products and services we purchase. We’ve seen the negative impact that bottom-dollar pricing can have with respect to quality and delivery. We’ve seen how over-engineered products with high price tags can erode our margins. Our constant aim is to look at each purchase holistically and measure its total value to the company we represent. So why don’t we look at our procurement teams the same way?
Picture the scene: you’re in the middle of hiring for a role in your HR department. At the interview stage, some bright young candidate takes a seat. You ask the classic question, “So why should I hire you?”