Current Situation
Organizations utilize a combination of technology applications, often found in siloed modules, such as spend analysis, sourcing, and contract management or some combination of similar applications and manual processes to complete the source to supplier enablement activities.
Goals and Objectives
Fully automated sourcing, powered by AI and cloud-native platforms, includes spend analytics, savings tracking, real-time supplier identification/selection, contract management, supplier management, and procure to pay (P2P). Delivered in a unified platform speed ups procurement operations and drives process efficiencies and cost savings.
Technology Deployed
Cloud/SaaS platforms, big data and analytics, mobile, applications, connectivity services, cognitive, RPA, and next-generation security
Use Case Summary
Leveraging automation and AI improves the entire source to pay workflow/process by driving significant process efficiencies and bottom-line savings in addition to better spend visibility, improved compliance, and improved resource optimization.