Supply chain and procurement processes generate a massive quantity of data, which can help CPOs boost the results of multiple business processes. Unfortunately, the volume, intensity, and diversity of information can be overwhelming. CPOs and their teams lack the visibility they need to detect and leverage opportunities to improve value and arrest value erosion.
Our Service powered by Infosys Nia’s AI enabled Procurement Analytics platform can help supply departments extract all this value from procurement data. Our solutions empower your business to:
Current advances in technology can help collect and organise data, but without a solid analytics solution, all that information only places greater demand on resources and budget. In this sense, the inability to leverage data gained through supply chain and procurement processes could itself be a source of value leakage.
In this whitepaper, Infosys Portland and EdgeVerve seek to demystify procurement analytics by clearly identifying the challenges and outlining the holistic approach needed to overcome them. Fortunately, through the combination of the latest visualisation and artificial intelligence technology, coupled with ‘as a service’ models, procurement analytics looks set to finally deliver the insight required.As you read the whitepaper, you will understand more on –
Procurement departments manage 40-70% of an organisation’s spend. But the procurement organisations have trouble collecting reliable data or finding actionable insights from the vast amount of data available to them.
CPOs have the opportunity to deliver unprecedented value across their organizations, but they need more than just a set of e-procurement tools – they require a synergistic mix of consulting, analytic and functional skills, and smart technology. Choosing the right partner and technology are the key to reaping massive rewards not only for their teams, but their companies as a whole.
Discover how our service powered by Infosys Nia’s Artificial Intelligence can help your business derive value from your procurement data – Schedule a meeting now!
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.