The value of knowing.
- Procurement Officers
- Financial Officers
ElectrifAi’s Procurement Ai Suite is a cloud-based solution that combines the power of artificial intelligence with deep domain expertise to enable procurement and contracting leaders to quickly and efficiently capture new savings opportunities and uncover hidden risk that would otherwise be impossible.
It consists of three modules that work in tandem to overcome the data challenges facing modern procurement organizations and provide unprecedented insight and value from your spend and contracts
Contract Ai transforms your contracts into strategic digital assets.
It helps organizations recapture lost savings and reduce risk by providing unprecedented insights into the unstructured text of contractual documents (e.g., PDFs).
Working as an analytics layer to any contract repository, Contract Ai uses sophisticated machine learning and natural language processing to understand the meaning and context within legal clauses so you can quickly and reliably:
- Search, sort, and extract critical information from contracts (e.g., payment terms, termination for convenience, audit rights, assignment, etc.)
- Track dynamic pricing models, volume discounts, and rebates
- Compare invoices with contract terms to detect early payments and overcharges
- Identify risky, non-compliant supplier contracts
- Monitor supplier SLAs and penalty clauses
Spend Ai goes far beyond traditional solutions to provide faster, more accurate and insightful visibility into organizational spend.
Recognized by Gartner as a “Cool Tool in Procurement,” Spend Ai combines advanced data science and the learnings from hundreds of cost savings engagements and outputs them in intuitive dashboards with drill-through charts and tables for easy exploration to:
- Rapidly and precisely cleanse and categorize spend, including free-form invoice descriptions, to any taxonomy
- Automatically detect and quantify savings
- Recommend actions to capture opportunities
- Include 50+ pre-configured analyses and optional D&B supplier insights
- “What-if” analysis to test your assumptions
Our process focused solutions help organizations by:
- Pinpointing inefficient purchasing and payment processes
- Identify and monitor non-compliant behavior
- Increase working capital by detecting early payments, missed discounts, and multi-term suppliers
- Save by shifting off-contract spend to contracted suppliers