Optimize sourcing with your dedicated AI copilot.
Drive unparalleled efficiency in your procurement processes with innovative AI technology, tailored to optimize your sourcing decisions.
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Source:
Harvard business school of technology & operations management: Navigating the jagged technological frontier:
Field experimental evidence of the effects of AI on knowledge worker productivity and quality.
What can AI do for your sourcing process?
Enhanced supplier insight
Intelligent contract negotiations
Spotted
cost savings
Faster
data gathering
Quicker decisions
Sharper
spend analysis
Use cases for Gen AI in procurement
Product recommendation
Enhance your sourcing with GenAI product insights
- Receive AI-generated suggestions tailored to match similar products efficiently.
- Improve your procurement outcomes by leveraging AI to identify superior product alternatives.
- Access a broader range of products that meet your cost and quality criteria, facilitating better procurement decisions.
Product search capabilities
Refine your search with advanced AI capabilities
- Utilize advanced search technologies to find products through text intent and visual queries, enhancing accuracy.
- Quickly identify and source products that meet specific requirements, saving time and resources.
- Benefit from an intuitive search interface that simplifies finding the right products with minimal effort.
Automated document validation
Streamline operations with automated RFQ and BOQ processing
- Automatically process and fill out RFQs and BOQs, reducing manual data entry and potential errors.
- Vendors can easily submit quotations, which are directly transformed into actionable RFQs by the system.
- Speed up request handling by automating the creation of system entries from submitted BOQs.
Gen AI-based agent for RFQ analysis
Leverage GenAI for enhanced RFQ comparison and insights
- Utilize GenAI capabilities to perform in-depth comparisons and analysis of RFQs for better sourcing decisions.
- Receive actionable insights from the GenAI agent that help refine your procurement strategies.
- Anticipate enhancements in conversational AI functionalities in the upcoming phase to handle broader contexts and more complex queries.
AI supplier recommendation
Optimize your supplier selection with AI-driven insights
- Automatically recommend suppliers based on historical data and purchasing patterns, ensuring consistency and reliability.
- Tap into a vast database to find the most suitable suppliers for your specific needs.
- Receive personalized supplier suggestions that align with your strategic goals and operational requirements.
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Modernize procurement with Penny Software.
your customizable AI-driven solution
Learn how our platform uses AI to understand and meet your specific procurement demands, driving operational excellence.
