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The benefits of Gen AI in procurement
Automate the tasks of data aggregation, representation, and insight generation, build your data foundation and unleash the potential of generative AI - one data point at a time.
How Gen AI enhances productivity
higher quality completion
Increase in speed per task
more tasks completed
Source: Harvard Business School of Technology & Operations Management: Navigating the Jagged Technological Frontier: Field Experimental Evidence of the Effects of AI on Knowledge Worker Productivity and Quality.
Why deploy AI in procurement?
PROMPTING FOR SUCCESS
Use cases for Gen AI in procurement
Resilience: scenario planning
Which of my suppliers would have the biggest impact on my business continuity capacity if they were to be disrupted?
Which of my existing suppliers would be a suitable substitute should my current supplier not be able to deliver due to a disruption?
Which suppliers outside of my supply base can help me in case of disruption?
Risk mitigation: accelerate time to recovery
My supplier has been hit by a disruption and is out of action. Which of my suppliers can step in as substitutes?
If I were to look for suppliers outside of my supply base, which criteria should I apply to my search?
Innovation: leverage existing supplier relationships
I am looking for suppliers that can support an innovative product. The request from my R&D is that the suppliers need to have specific capabilities.
Do I have suppliers in my portfolio that meet this demand?
Supplier diversity: evaluate and improve diversity
I have a goal to spend 20% of my total spend with diverse suppliers. How many of my suppliers have a diversity certificate and what am I spending with them?
Which of these suppliers can I give more of my spend to based on their products?
Which of my suppliers without a diversity certificate show similar characteristics to those with a certificate?
Bringing our solutions to life
The AI data foundation
The data foundation is at the core of our applications.
Built on private Large Language Models (LLMs), a knowledge graph, and machine learning, your data foundation enables you to aggregate, represent, and store your internal data and external data in a secure environment.
It is the connective layer between your existing systems, external data sources, and our AI, Intelligence, and Discovery solutions.
AI in our solutions
The AI CoPilot
Receive dependable decision templates and precise action recommendations.
Understand how market dynamics can affect your supply base and where to take preventive actions.
Measure your supply base performance against your strategy and derive actions to improve.
Easy entry: start by integrating basic supplier data and training your AI. Work with existing suppliers, drive direct savings, increase compliance, and reduce time to market - instead of onboarding new suppliers you don’t need!
Watch our CEO, CTO, & STRATEGIC ADVISORY BOARD MEMBERS