Accelerated savings through supplier compression and 99.5% spend classification
The client is a top Fortune 5 healthcare company. They acquired a company with a separate ERP system but wanted a single consolidated view of company-wide spend. The client upgraded their SAP system; new identifiers were created for all IDs; they wanted to see the total spend by the unique SAP system IDs. The client had 4 data sources that need to be normalized and aggregated to see company-wide spend. The client wanted to know spend with vendors that are not under contract.
ElectrifAi solutions executed the following for 4 data sources: Data Validation, Data Cleansing and Consolidation, Profit Center and Cost Center Migration Updates, Vendor Clustering and Parenting, Spend Classification, Application of CVS Feedback and SpendAi Dashboards available to all licensed users.
ElectrifAi’s solution achieved a higher negotiating leverage with 60% Supplier Compression. 99% of total spend was classified into a category. A company-wide view of spend post-acquisition was now available, as well as supplier hierarchy for identification of duplicates.