Today, artificial intelligence (AI) is creating waves in the procurement industry by automating the full spectrum of procure-to-pay operations - from spend analysis to invoice management.

Artificial Intelligence in procurement can look for cost discrepancies, unusual order frequencies, and identify patterns that can help companies detect potential fraud, and purchasing anomalies.

PRM360 helps businesses leverage the power of artificial intelligence to automate many routine tasks and unlock the potential value of the data to optimize procurement operations.

How AI Streamlines Procurement Process

• Sourcing
  AI analyzes the sourcing patterns and behavior to let you connect with the best suppliers quickly and efficiently - while allowing you to spend time on supplier selection, negotiation and assessment.
• Savings
  Realizing savings in the real-time is the key success of any procurement firm. PRM360 automation tools will evaluate every order and invoice against the savings plan and determines the percentage of savings realized.
• Supplier Management
  PRM360 evaluates the supplier performance against contracts and helps you know the discrepancies right away, eliminating significant delays and surveys.
• Order Processing
  Intelligent automation examines who you are and what you can order; all the requisitions within the permitted range can be ordered within a single click. Only the requisitions that are not in compliance requires personal attention.
• Spend Analysis
  Artificial intelligence can extract real-time, granular insights into the spend data and auto-corrects the process to improve accuracy.

With AI-derived procurement solutions, businesses can create result-driven procurement strategies and realize unprecedented efficiency throughout the organization.