ignio Cognitive Procurement is an AI-based arocurement analytics solution that screens live transactions in the procurement process to give unique insights for identifying potential opportunities of savings, reducing the cost of operations, and improving compliance.
ignio Cognitive Procurement analyzes historical transactions to learn procurement behavior and monitors live transactions to detect anomalies including price leakage, process fallout, or non-compliance with regulations or purchasing policies.
ignio Cognitive Procurement is for professionals such as Chief Financial Officers (CFOs), Chief Procurement Officers (CPOs), category managers, procurement analysts, and global business services (GBS) owners who make strategic and tactical decisions while procuring goods and services.
ignio Cognitive Procurement works as an independent monitoring solution by complementing transaction processing systems like an ERP or home-grown application. It consumes raw transactional data as an input and runs configurable, built-in algorithms. As an output, ignio Cognitive Procurement generates cognitive insights through a set of screens, controls, metrics, patterns, and graphs.
ignio Cognitive Procurement delivers value along three dimensions:
