From the earliest days of humanity, huddled around fires and trading tribal knowledge, the power of communities has been apparent. When individuals come together and share their experiences, new ideas and understanding are created and the entire community benefits--including all the individuals who participate.
In Smarter Together, Rob explains that we are entering a new revolution in business, driven by community insights that are collected conveniently, anonymously, and, when aggregated, turn into powerful prescriptions that can benefit all the individuals in the community.
A maturation of technology platforms along with AI are providing the basis for this revolution, and companies that choose to participate have the opportunity to gain exponentially more value than those who go it alone.
The community revolution will affect all areas of business, but in particular, it has powerful implications for those in Business Spend Management. It allows us to draw upon the insights and experience of other companies when it comes to sourcing and selecting suppliers, purchasing goods and services, benchmarking ourselves against our peers, and more.
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