Imagine an operating environment where an AI buyer manages purchase requisition creation to purchase order monitoring without manual intervention. Item availability, pricing, and delivery lead time is instantly available. Requisition steps are clearly outlined, and correction steps are prompted to users.
End users receive their items on time, and autonomous systems remind users to complete final documentation close-out. The human employee is now able to focus on higher-value, core-competency areas vs. increasing frustration with what should be a straightforward process designed to make employees’ lives easier.
Today’s enterprise Procurement lifecycle is manual, time-consuming, and error-prone. Data inputs are frequently incomplete, resulting in inefficient purchasing, invoicing and spend insights. Procurement operations can also lack a core managed services platform.
The net result is delayed or incomplete payment cycles, and impacted relationships with vendors, partners, and alliance members. What could become a core differentiator remains an often-overlooked, non-differentiated experience across the competitive landscape.
Solution components include:
– A conversational chatbot that shares AI/ML-driven data and purchasing decisions
– A platform for Procurement managed services to manage requisitions and POs with automation rules and AI-driven decision-making
– A reporting dashboard for intelligent data analytics and supplier comparison
Procurement as a Service can deliver:
– Simplification of UX through AI-enabled requisitioning processes
– Better spend management and enforcement of policies through intelligent purchase decisions
– Identification of downstream purchase requisition issues and AI-based recommendations for issue resolution
– A surpassing of KPI expectations (e.g., requisition cycle times, contract compliance)