AI-driven Spend Management and Procurement software company serving hundreds of locations and enterprises worldwide, Xeeva, updates its AI-driven spend analytics platform. Intelligent opportunities and a new user interface have been included in the updated version of the platform to help its users to react immediately to application-generated savings and sourcing opportunities. Using advanced artificial intelligence (AI) and machine learning (ML) in spend analytics, the platform helps its users to accurately identify data and generates intelligent opportunities.
Nina Vellayan, CEO of Xeeva, Inc. stated “Solving our customers’ problems and helping with the digital transformation occurring in procurement is the reason we exist. We have committed ourselves to streamline and constantly improve our proprietary spend management software, helping you and your organization quickly deliver insights so you can make impactful decisions regarding spend across your entire organization.”
The platform will benefit the users by providing improvements and updates in data consistently. The network effect processed across the platform will automatically and intelligently enrich data. The project planning feature in the platform helps in scheduling sourcing opportunities monthly or yearly basis.
On a continual basis, AI/ML curates expenditure transactional data to discover hundreds of savings possibilities, allowing you to establish a strategic sourcing plan. This technique reduces the time-consuming manual duties of analyzing expenditure data and discovering, generating, and presenting numerous cost-cutting options.
Data Quality enables you to quickly identify all spending under management, assess and analyze all of your consolidated spend data to create a strategic category strategy, and actively assists you in controlling any maverick expenditure to successfully achieve savings at all levels.
The platform update helps in generating category-based saving opportunities, spending and analysis savings opportunity, and each of these opportunities is ranked according to the score. The opportunities are converted into structured sourcing initiatives and a visual wave plan is created according to categories.
VP of Products, Xeeva, Aparna Gude states, “We are thrilled to be launching the next generation of Spend Analytics. We’ve worked very hard to ensure our AI-driven solutions digitally transform the procurement processes by leveraging cutting-edge technology and AI, making our solutions intuitive and user-friendly, and helping our customers realize savings. With this capability, we expect to see our clients save an average of 10% across various categories. We continue to work on and improve our solutions and look forward to sharing many more exciting new launches with you!”
The new improvements help users to manage their spending by proper analysis process. The new data quality dashboards, improved user experience through the new user interface, and users can adjust and expand chart styles simply. The charts can be downloaded in the form of data and pictures making the platform more user-friendly.