Claritum’s focus on AI in Procurement

Claritum’s focus on Procurement AI or AI in Procurement is on Machine Learning applied to the wealth of data collected through the process of Indirect Spend management. Using Machine Learning to identify opportunities and anomalies within this spend data and augmenting the Procurement professionals activity to enable decisions to be made.

Using Artificial Intelligence (AI) applied in context of the automated collection of data that Claritum provides. Plus, automating analytical processes that are carried out either manually (consultancy projects) or delivered using unsuitable technology solutions.

Using AI selectively we are able to create a disruptive sector change delivering lower cost and higher value management information. Claritum’s perspective is that AI technology should be used to reduce cost and provide higher value management information for organisations.

AI, applied in this way, will produce the best return on investment for Claritum’s customers and additional return on the investment made in the overall Claritum solution.

Data quality is cited as the main barrier to AI adoption. Claritum believes that an essential part of any AI strategy is the underlaying automation of processes to ensure that data is captured securely at its source and entered correctly in the first instance. Removing the need for migration and an approach of cleaning up the data later. Claritum has applied structured automation to ensure users enter the key data correctly. Plus, for unstructured data, such as specifications, even here we have added structure where this is both sensible and possible to do so

“The often most-underestimated step, is creating your data pipeline and aligning it to overall data strategy: determining how you plan to ingest, store, pre-process and ultimately manage it.”

- Intel

Claritum can help you to:

• understand how to integrate process automation technologies, artificial intelligence and machine learning, so that you become more efficient and make better decisions
• define a realistic set of savings targets and explore new options for applicable areas
• explore suppliers that can offer solutions to boost productivity and shave down costs
• make informed decisions and predictions
• create processes that allow you to pivot and collaborate
• develop a robust framework for understanding and critically examining AI in Procurement in context of data collected during a purchase process
• assess the implications and possibilities of AI in your industry and build a business case for your specific implementation

Benefits that you will realise with Claritum:

• More accurate forecasting and decision making
• Faster response times to organisation requests and resulting customer satisfaction
• Improved supplier engagement
• Higher productivity / resource utilisation
• Significant reduction in transactional tasks
• Better opportunity and anomaly detection

Where will Claritum AI take you?

Claritum envisages Procurement Professionals and Suppliers able to answer these fundamental questions through their own analytics solution:

• Where can I make savings?
• Where, with who and how can I improve my supply chain?
• How do buyers find cheaper/better products?
• How do buyers find alternative or more appropriate suppliers?
• How do suppliers break into new markets?
• How do suppliers find new customers?

Many buyers are unaware of potential suppliers that could provide products, materials or services with greater efficiency, lower cost or better quality. Plus, their potential suppliers are unaware of potential new customers for their products, materials or services.