Leverage technology, process, people and methodologies to help organization transformations towards becoming insights-driven with the ability to identify new sources of value creation and efficiencies.
Starting with Data Source identification:
Procurement organizations generate and store massive amounts of data, which is often widely dispersed across different systems, operations and geographies.
But how can procurement professionals take control of all this data?
How can it be used to gain insights that will enable better planning and effectiveness?
Today, sources for data have expanded to include a much more disparate set of both internal and external, structured and unstructured data obtained from automated processes executed within hours or, in many cases, in real time.
Driving Decisive Insights
Analytics helps tie together internal data sources such as spend data, contract data and data related to supplier relationship management, with external data sources, such as supplier databases — providing information any time and anywhere about supplier markets.
Big Data Analytics & Actionable Insights
Accessing data and insight is one thing, but making it readily actionable is another. That is where our long experience and holistic business view have proven to make the difference.
You lead by asking the right questions.
You prize what you measure.
And what you measure is what you get.
PROCUREMENT 4.0 - FROM REACTIVE TO PROACTIVE
FOCUS helps enterprises leverage cutting-edge analytical technologies to drive decisive insights from structured as well as unstructured data.
Applying Analytics to Procurement
We are collaborating with global parters to provide ongoing as well as ad hoc procurement analytics in the following areas:
Self-Service Analytics and Reporting – Enables procurement to develop reports and perform analysis on spend, supplier base, compliance, and other spend-related data.
Predictive Analytics – Provides the most likely outcomes based on actual conditions. Procurement can forecast spend, based on anticipated changes in the business and pricing based on external factors.
Scorecards – Easy-to-read, real-time graphical snapshot of performance outputs of procurement, based on a set of effectiveness and efficiency metrics. This enables instantaneous, informed decision-making.
Risk Analysis – Identifies business risks to the supplier base, including pricing risk, compliance risk, geographical risk, disaster risk and others. Also helps define preventive measures and detect countermeasures to successfully deal with risk scenarios.
Data Mining – Analyzes copious amounts of data to identify trends that offer meaningful insights. Procurement can better understand spending, supplier performance and external pricing trends.
Slice-and-Dice Analysis – Analytical tool that presents data according to different criteria. Procurement can examine spend information by supplier, geography and category.
Where It Matters
Big data and analytics can bring about a new frontier with the promise of transformative changes in procurement. As industry leaders FOCUS Senior Advisors have the expertise to get actionable insight for improved business results.
Our unique combination of big data, predictive analytics, reporting and advanced visualization helps deliver greater data assurance, ultimately helping reduce costs thanks to greater visibility and control.
We start by Procurement and Supply Chain Data Mapping - A due diligence that will enable a quantitative approach to digitization
Summary of manufacturing Data Mapping reporting:
Image Recognition (AI)
Forecasting
web-analytics (hidden insights)
Anomaly detection
Text Mining
Routing Optimisation
Inventory Optimisation
Scenario Simulation for production lines
Negotiation Engine for purchasing
Fraud Detection
Financial Forecasting
Automation of existing processes
Visualization of key metrics
SMART Source-to-Pay Automation
FOCUS senior advisors are former industry leaders working as a team supporting your technology suppliers to enhance the innovation of AI capabilities that are designed to execute your processes across the full spectrum of source-to-pay operations — from spend analysis and sourcing to purchase order processing and invoice management.
REAL GAINS WITH ARTIFICIAL INTELLIGENCE
Spend Analysis: AI-based spend analysis software can extract real-time, granular insights from your spend data — automatically aggregating, cleansing, classifying, and reporting the data across the enterprise. It actually learns and self-corrects to continuously improve accuracy.
Sourcing: As AI learns your sourcing patterns and behaviors, you’ll be able to connect with the best suppliers more quickly and efficiently — while reserving your time and skills for supplier selection, negotiation and real value assessment.
Savings: Measuring savings in real time will show procurement’s value to the enterprise. No more negotiation over “percentage realized." An advanced automation technologies will assess every order and every invoice against your savings plan.
Contract and Supplier Management: When a supplier’s performance drifts out of alignment with the contract, the AI-based software can let you, and the supplier, know right away. No number crunching and no time-consuming surveys.
Order Processing: When the software knows who you are and what you are permitted to order, your requisition becomes an order and a fulfilled delivery with a single click. Only the most exceptional cases need the professional’s personal attention.
AI is coming of age as one of the main technological drivers of today’s transformed procurement organizations.
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