Better forecast demands and estimate procurement requirements across products, categories, and suppliers.
Integrate purchasing plan with business forecast for proactive planning and supplier engagement.
Increase the visibility of spend across functions and business processes and measure key spending metrics.
Identify outliers and saving opportunities.
Use AI and ML algorithms to identify opportunities to reduce procurement costs.
Monitor quality metrics across suppliers and categories, compare and benchmark suppliers on quality, price, and payment terms.
Identify process gaps, deviations and predict the impact on quality using data science algorithms to reduce defect rates.
Identify opportunities to improve the purchase-to-pay process and working capital requirements.
Track compliance to purchasing processes, identify outliers, and assess business impact.
Implement invoice and payment analysis to identify errors, compliance issues, and potentially fraudulent practices.
Contracting & benchmarking
Identify contract non-compliance using purchase orders, invoices, and quality data.
Reduce purchase price variation, payment terms non-compliance, retrospective POs, contract leakages, and non-compliant pricing.
Predict spend, price, and cash flow under contract and use insights for benchmarking and contract negotiations.