Nia Procurement Insights solution delivers business relevant insights around sourcing & procurement, by automating procurement data ingestion and data management activities, classifying spends into right categories using ML (machine learning) techniques, generating predictive spend analytics (what-if and forecasting analysis) and highlighting guided opportunities to aggregate demand, optimize price, rationalize suppliers, and adhere to compliance and more.
This will enable enterprises to create best in class procurement practices, identify opportunities to reduce costs and improve risk management
The comprehensive and future-proof Nia Procurement Insights solution offers complete procurement spends visibility and intelligent analysis that equips procurement teams with enhanced decision making capabilities.
Industry standard data models for transactions and master data, with data harmonization and normalization to enhance analytics
Best in class spends classification powered by “Auto-Classification” and augmented by additional manual “Rules”
Interactive dashboards supported by best-in-class visualization, with rich functional models and embedded intelligent insights
Dynamic guided opportunity analysis for continuous identification and validation of improvement opportunities
Powered by ML and NLP, Nia Procurement Insights is designed to help organizations better manage their procurement spend
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