Free Trial Book a Demo
  • About Us
  • Solutions
    • Procure to Pay
    • e - Auction
      • Reverse Auction
      • Logistic Auction
      • Forward Auction
    • Contract Management
    • Catalog Management
    • e-Invoice Management
  • Services
    • Spend Analysis
    • Tracking Management
      • Savings Tracking
      • Material Tracking
    • Project Management
      • Project Management
      • Requisition Processing
      • Finance Approvals
      • Data Analytics
    • Vendor Management
      • Vendor Profiling
      • Strategic Vendor Sourcing
      • Supplier Risk Management
  • Industries
    • Pharmaceutical
    • Hospitals
    • Energy
    • Infrastructure & Construction
    • Agri & Poultry
    • Manufacturing
    • Others
  • Resource
    • Blogs
    • White Papers
    • Customers
    • Reviews in Gartner
    • Media & Awards
    • Careers
    • FAQ
  • Contact us
  • Login

Read more about AI in procurement

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.

Latest Posts

Digital Transformation is the next normal in supply chain Industry post Covid crisis

April 12, 2020

Block Chain technology

January 11, 2018

why should you choose e-procurement system over a traditional erp to transform purchasing experience?

February 4, 2018

AI Procurement Automation

March 6, 2018

can we create savings while buying?

April 2, 2018

not just the price, time matters too !!

May 12, 2018

how engaged is your procurement team?

June 5, 2018

Purchase process automation... will it make any difference??

July 18, 2018

Dig Deeper to know about Data Analytics

August 11, 2018

Read more about AI in procurement

September 17, 2018

Read about IOT

October 10, 2018

Know more about ROI

November 17, 2018

Key Trends that Transforms the Procurement Industry

December 2, 2018

The Brand Behind Procurement Savings

January 28, 2019

Impact of e-procurement in procurement world

February 14, 2019

eProcurement Software for Robust Spend Analysis

February 28, 2019

What is Procurement?

March 13, 2019

Impact of AI on Procurement

March 28, 2019

Procurement Strategy Best Practices

April 21, 2019

Challenges Involved in Procurement Process and Ways to Manage

May 12, 2019

Quick Links

  • About Us
  • Blog
  • Customers
  • FAQ
  • Contact Us
  • Careers

Solutions

  • Procure to Pay
  • e - Auction
  • Contract Management
  • Catalog Management
  • e-Invoice Management

Services

  • Spend Analysis
  • Tracking Management
  • Project Management
  • Vendor Management

Industries

  • Pharmaceutical
  • Hospitals
  • Energy
  • Infrastructure & Construction
  • Agri & Poultry
  • Manufacturing
  • Others

Resources

  • Blogs
  • White Papers
  • Customers
  • Reviews in Gartner
  • Media & Awards
  • Careers
  • FAQ

PRM Trust Center

  • Privacy Policy
  • Social Media Policy
  • IP Policy
  • ISO 27001:2013
  • Terms & Conditions
  • PRM360 GDPR

Copyright © 2020 PRM360. A Product of Acads360 India Pvt Ltd.

Contact us
  • +91 7075115999
  • info@prm360.com