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
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
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.
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.
PRM360 evaluates the supplier performance against contracts and helps you know the
discrepancies right away, eliminating significant delays and surveys.
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.
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.