Procure.Ai

Shift to Procurement X.0

Procure.Ai

Disruption at every frontier is causing business models and entire supply chains to change rapidly. In this digital era, intelligent innovation is the right way to dodge risks, profitably.

Presenting, Procure.Ai the brainchild of Bristlecone Labs.

Specially crafted AI driven Suite of SaaS applications on the NEO™ platform that provides steadfast support to CPOs and procurement executives to achieve your business goals. Increase profitability and efficiency, look past the traditional procurement tools and join the AI revolution today!

Commodity Price Risk Analytics (CPRA)

According to the Chartered Institute of Procurement and Supply (CIPS) Risk index, the global supply chain risk still remains close to an all-time high of 82.64 that it reached two years ago! Increased tensions across the world such as the political uncertainty in various nations, oil prices that affect both import and export countries, increasing incidences of cyber-attacks, NAFTA agreement revision, Brexit and EU negotiations, ongoing tensions in the middle east and trade and financial uncertainties in the Asia-Pacific region, threaten to spillover into global supply chains. CPRA is our ground-breaking Commodity Tech solution that equips businesses with readiness to face these uncertainties.

CPRA is our AI powered game-changing capability for better management of
commodity and currency dynamics.

Proactive

Actionable intelligence that informs the buyer about the impact of real world events on commodities and commodity prices.

Predictive

Reliable forecast recommender to make the best use of negotiations and decide the right opportunity to buy

Innovative

AI Agent that empowers your sustainable sourcing goals and continuously learns with feedback

CPRA has two unique super-capabilities:

Early Warning System (EWS)

EWS is the quintessential buyer’s intelligence of events that impact the supply chain.Machine learning tool that builds
scenarios and alerts buyers about the impact of events on the market and prices of commodities in their Read more..

Buying Recommendation Engine

Buying recommendation engine is a strategic decision tool that predicts the right buy price of a commodity and recommends actions based on market factors and unstructured external data. Recommendation is based on ‘should-cost’ models Read more..

Procurement Analytics

Spend Analytics

Spend Analytics provides spend and supplier visibility and actionable insights for the CPO to Buyer manager. Comes with extensive pre-built business content that covers cross-country spend, spend synergy across entities, actual vs budgeted spend and more. Get rid of the data preparation nightmare with our accurate aggregation, cleansing, classification of spend data. Offers highly customizable graphical and tabular spend dashboards with detailed drilldown and ‘Drag and drop’ ability to create new analysis, dashboards and business stories.

Benefit:

  • Better consolidated view of spend visibility
  • Visibility into maverick spending and saving opportunities
  • Enables efficient tail management.

Spend Anomalies Detection

Gain visibility into Spend Anomalies and bring efficiency by
establishing necessary checks in business process flow, creating awareness on the common contracting challenges and identifying deviation from standards. The solution extracts data from unstructured sources such as PDF documents and images and converts them into structured and readable database format. Automated analysis is performed using pattern recognition techniques for spotting anomalies in spend data.

Benefit:

  • Ability to collate and organize information from unstructured text.
  • Data analysis even in the absence of standard contract template across suppliers and parts. Recommendation of set actions in case of recurring anomaly.

Virtual Assistants

Procurement Chatbot

Procurement managers can use these chatbots to add, remove or update Purchase Orders, view procurement analytics and more. AI assistant that delivers results in just a click.

Benefit:

Eliminate inefficiency of Supplier discovery and optimize your cost savings and eliminate supply risks.

Vendor Chatbot

Save staff time by letting smart bot answer vendor queries. Vendors can use these chatbots to query about pending payments, inventory information and issue tracking.

Benefit:

Due to faster query resolution and by allowing only the most complex of queries to be escalated to human staff, a lot of non-value adding work-time is removed.

Guided Contracting

Intelligent contracting agent powered by AI that creates thorough contracts for your selected commodities, geographies and supplier mix. Contract analytics that matches clauses and terms to a custom library and uses benchmarking data to recommend best-suited contract conditions. Automated suggestion of pricing based on volume, discounts, lead-time and delivery. Additional feature of Blockchain powered smart contracts for efficient purchase deals and quicker sign-off with vendors.

Benefit:

  • Reduce contract negotiation cycle.
  • Increase cost savings.
  • Increase vendor compliance.

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