See beyond sight with ignio Cognitive Procurement
Enable procurement to tap into abundance while alleviating risk with ignio Cognitive Procurement
Learns context
ignio learns context by analyzing historical transactions to understand the enterprise’s spend behavior at a granular level. It characterizes unmanaged spend behaviour and establishes transaction fingerprints in order to mine patterns or specific conditions that drive anomalies leading to fallouts needing human intervention.
Provides alerts
ignio monitors live purchase transactions and flags probable exceptions downstream in the procure-to-pay process. It predicts the right insights as alerts for an organization. Not only does it signal the organization with the right insights, but it also provides them at the right time giving sufficient advanced notice to take corrective action.
Detects incidents
ignio monitors historic purchase transactions and proactively flags incidents or mavericks based on some odd spend behavior. It not only helps an organization to halt such occurrences and attempts to game the system, but also allows a human to intervene and investigate the reason for such occurrence.
Enables actions
ignio helps an organization with continuous monitoring of transactions and analyzes spend behaviour to provide corrective actions. It helps the organization to enable and trigger a corrective action when any anomaly or odd behaviour is identified so that a human can intervene and scrutinize the transaction at a granular level.
Proactive problem management
ignio analyses spend data across various parameters and delivers an exhaustive view of an enterprise’s procurement behavior. By detecting maverick transactions, mining exception patterns for anomalies, and predicting corrective actions, it finds out the root cause for a regularly occurring problem and proactively helps to resolve it.
ignio Cognitive Procurement
A virtual procurement analyst for enterprises
Life sciences & healthcare
With a need to meet the increasing demand for healthcare products, enterprises must ensure improved management of their working capital. Preventing bias towards specific suppliers and protection against surge pricing is what ignio helps with.
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Manufacturing
Manufacturing organizations need to ensure supply of the right raw materials, procured at the right price points. ignio continuously monitors all transactions including buying behavior and ensures costs savings.
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Retail
As new markets open for the retail industry, and commodity and labor costs fluctuating rapidly, ignio can help build strong relationships with suppliers and protect your organization from the inconsistent and unavoidable surge pricing.
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ignio Cognitive Procurement Product Sheet
ignio Cognitive Procurement is a future proof solution that enables procurement professionals to smartly analyze and monitor transactions for hard-to-discern anomalies and intervene on a need basis to take corrective measures. Download the product sheet to find out more.
ignio Cognitive Procurement
In a future where procurement organizations will be sandwiched between impatient buyers and infinite suppliers, it is important that they figure out a way to not become the bottleneck to business growth. Cognitive Procurement brings in an AI based oversight mechanism into the Procure-to-Pay function that detects and predicts different types of procurement anomalies on time. It allows Procurement organizations to empower people and intervene only on a need basis to maintain the right balance of efficiency and agility.