Artificial Intelligence For Procurement

Procurement professionals can now leverage their expertise with the power of A.I. to make faster, more informed buying decisions that:

  • Reduce costs

  • Increase supply reliability

  • Minimize supply-chain risk

  • Drive diversity, ethical sourcing or other procurement goals.

Example: Using to effortlessly increase the number of bidders for a buy

We all know that more bidders results in lower costs…

But getting more bidders takes time and research capacity that busy procurement professionals just don’t have

  • 90% of all buys are less than $1MM, but represent >30% of total costs
  • The average number of bidders for these buys is ~2, but the increase in savings from 2 to 4 bidders is substantial, ~15% of cost

How to identify alternative suppliers in minutes using

  • Paste in specifications from any existing document type, in any language
  • Add any bidders that you definitely want included
  • Identify specific qualifiers (e.g, geography, minority ownership, etc.) uses A.I. to quickly identify potential alternative suppliers, including:

  • Existing contractual relationships you may have
  • Risk assessments
  • Company financials and size
  • Previous bid history
  • Trade press news stories scored by sentiment
  • Contact information for 1-click

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Talk with one of our representatives to learn more about how can help your procurement team.


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