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explains. “We have the spend data extracted from our ERP system sent through to a spend analytics module within the PMS, and that runs through a classification AI computer learning platform that understands the data.” Many of different items are purchased every
day. Some are commodity items from a large, contracted supplier, while others are one-off purchases from a small local vendor. The tool understands each of those purchases and categorises them, giving total and immediate visibility. Now, thanks to the spend analytics tool, the data that could only be assembled periodically can be assembled in minutes rather than months, and the same insight gained into the 90% of the vendor base that accounts for just 10% of the spend. “That nimble insight we get via Zycus is a game changer for the company,” Purss adds. “We can
“BECAUSE WE HAVE THE ABILITY TO LOOK INTO OPPORTUNITIES, WE CAN JUMP ON THEM QUICKLY” – Justin Purss, Procurement Systems and Compliance Manager
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