The role of procurement is changing from a business support function to a critical driver of business strategies as well as sustainability goals. In the past, the procurement function was simply focused on working capital optimization under the finance department. Whereas, in today’s VUCA world, procurement is required to play a strategic role and drive value for the business regarding supply chain risk, ESG, DE&I as well as innovation to enable the top line growth. Data is a key enabler in this transition, but procurement lacks the capabilities to convert large volumes of fragmented data sources into actionable insights and opportunities.
We empower procurement organizations to make data-driven decisions by providing them “continuous” visibility and insights into their spend data. We utilize the power of advanced Ai to cleanse, compare and classify extracted data (from ERP, data lakes, data catalogs, and spreadsheets) by understanding each company's specific spend taxonomy and automatically maintain and improve those in the future. With better spend visibility and more context, procurement teams can make more conscious spend decisions (eg. on circular products) impacting customers, suppliers and planet earth.
Our mission is to help procurement teams to shine by taking over tedious and time-consuming (low value, high volume activities) and letting them focus on high impact decision-making and value realization for their organization and our society.
machine learning, procurement, supply chain, spend analytics, taxonomy
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