BFSI

Advanced spend analytics and procurement capabilities to reduce costs

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Challenges

The client is a leading agricultural company that needed insights into company-wide direct and indirect spend. There was no centralized procurement function across more than 20 offices and five different systems.

Solutions

ElectrifAi solution realized spend visibility from 4 data sources through: Data Validation, Data Cleansing and Consolidation, Vendor Clustering and Parenting, Spend Classification, Data Extraction and Upload to Spend Analysis platform (EIQ)

Outcomes

$2M
spend savings realized in first year
99%
categorization of both direct and indirect spend
50%
supplier compression