Suplari Purchasing Intelligence enables financial and procurement professionals to proactively improve process, manage spend, drive compliance, and identify fraud and abuse.
Suplari, the AI-driven insights platform for procurement and finance, today announced the launch of Suplari Purchasing Intelligence. This new release enables companies to apply artificial intelligence (AI) to monitor, analyze and enforce the buying and procurement process across disparate enterprise systems and identify opportunities for compliance, spend management, and fraud detection.
The purchasing process spans multiple departments, systems and data sets in any organization. This creates silos and challenges for companies trying to obtain a consolidated view of their procurement data and opportunities to save costs and increase profitability. By leveraging Artificial Intelligence (AI), the Suplari Intelligence platform cleanses and normalizes siloed procurement data sets and then provides actionable insights to drive business outcomes. Procurement and finance teams can now proactively improve compliance, manage spend, identify fraud and abuse, and improve the overall buying process.
Suplari Purchasing Intelligence extends the value of the Suplari Intelligence platform by connecting and analyzing purchase orders (PO’s) against data from Contract Intelligence and Spend Intelligence packs. By subscribing to Purchasing Intelligence, customers receive a continuous stream of purchasing related AI-driven insights developed by the Suplari Data Science team. These insights can identify suppliers, business units, and even rogue employees that pose unseen risk to the enterprise. Implementation is simple and seamless and requires just limited IT or professional services support. Enterprise organizations can be live and running in as little as 30 days.
“Purchasing Intelligence supports our continued mission to free finance and procurement customers from the burdening tasks of data aggregation and reporting.With the right insights at their fingertips, these teams are elevated into strategic business partners by proactively driving key initiatives for the business,” said Nikesh Parekh, CEO at Suplari. “There is a wealth of knowledge flowing through an enterprise’s purchasing data that is too often hard to capture and analyze efficiently. By leveraging the cloud and advances of AI frameworks, Suplari customers can now automate the monitoring and analysis of their company’s spend, suppliers, contracts, and purchasing activity to proactively and decisively act on their data.”
“We have seen great success with Suplari.” said Nathan Haydn-Myer, Manager of Procurement Operations and Insights at VSP. “Our team quickly identifies opportunities for risk reduction, supplier consolidation and sourcing savings. I am excited to see the release of Purchasing Intelligence support our initiative to move more spend under management by driving compliance and policy. “ Haydn-Myer added, “I believe Suplari Purchasing Intelligence will help streamline the tracking process for our compliance team and will empower decision making by serving up insights to drive out billing mistakes, budget impact issues, and risky after-the-fact PO spend. We look forward to our continued partnership with Suplari and can’t wait to see what’s next for insights.”
To learn more about Suplari Purchasing Intelligence, visit http://suplari.com/solution/purchasing-intelligence/.
Suplari helps procurement and finance organizations uncover the hard-dollar cost savings hidden inside millions of data points. By analyzing millions of sourcing transactions from disparate data sources, Suplari’s AI-driven platform generates the insights needed to reduce spend, increase compliance, and improve employee productivity. Our mission is to enable procurement organizations to achieve higher levels of operational intelligence, efficiency and effectiveness, so that their companies can invest in growth, innovation and their people. For more information, contact firstname.lastname@example.org.