A Virtual Procurement Analyst to monitor, detect and predict corrective actions
ignio Cognitive Procurement is an AI-based analytics solution for Procure-to-Pay, that screens purchase transactions and identifies opportunities to save money and improve the effectiveness of procurement. Our vision is to provide every organization the ability to Explore its procurement behavior using data and identify where to focus its efforts, Monitor live transactions to detect and predict problems needing human attention, and Intercept such transactions through corrective and preventive actions.
As Business Owners, Chief Financial Officer, Chief Procurement Officer, Procurement or Category Managers you face challenges in adapting to procurement behavior in the face of constant change resulting in spend leakage, higher processing cost and compliance issues against organizational policies. With ignio now you can monitor live transactions to detect and predict problems in advance in order to address these challenges. The solution can sit atop Microsoft Dynamics 365 or other e-procurement systems consuming raw transaction data to generate cognitive insights.
With ignio Cognitive Procurement you can continuously monitor expenses across transaction systems opening up opportunity to intercept transactions if required to optimize spend, cost and compliance. –
- Increase annual savings upto 30-40% from unmanaged spend on goods
- Reduce transaction processing cost upto 2-3X
- Achieve compliance of over 90% on policies related to unmanaged spend on goods
ignio Cognitive Procurement is designed to:
- Explore the procurement behavior of an organization on-demand and surface observations using a set of features packaged under a module called 'Exploration Center'. Features include - Price Variance Analysis, Exception
Analysis, Spend Analysis, Delay Analysis and Duplicate Analysis
- Monitor and Intercept various problems in near real-time at different stages in the P2P using a set of features packaged under a module called 'Command Center'. Features include - Real-time Continuous Monitoring of
Purchase Requests, Purchase Orders and Invoices