Enterprise AI capabilities for every step of the procurement process
Penny brings AI into the full Source-to-Pay cycle, from request creation to invoice validation, helping your team accelerate decisions, reduce errors and gain full control over spend.
Higher quality completion
What can AI do for your sourcing process?
Spotted
cost savings
Decisions backed by Data
Enhanced supplier insight
Intelligent Search
Sharper
spend analysis
Faster
data gathering
AI capabilities that empower your procurement
AI Offer Benchmarking
Centralise historical prices, rank the best offers and set benchmarks backed by data
See a ranked view of the best prices from past offers, accepted offers, catalog prices and manual items in one place.
Compare exact and similar items, filter by source, and set any price as your benchmark for incoming vendor offers.
Get a recommended benchmark for each product or service, with the reasoning behind it.
AI Vendor Suggestion
Take the guesswork out of vendor selection with recommendations built on proven track records
Receive vendor recommendations based on pricing competitiveness, sourcing frequency and past supply of similar items.
See at a glance which vendors you source from most and who has delivered similar items before.
Reduce risk by favouring vendors with a proven track record in your own history.
Offer Autofill
Automated offer mapping that eliminates manual entry and catches errors before submission
Upload offer documents in any format (PDF, Excel, Word) and let Penny map them to the right RFQ fields automatically.
Unmapped entries and field mismatches are flagged for review before submission, so errors are caught early.
Vendors save hours of manual entry, and buyers get cleaner offline offer submissions.
Semantic Catalog Search
Intent-based search that finds the right items regardless of how the query is phrased
Find products and services using natural language, even when your wording differs from the catalogue entry.
Get relevant results based on the intent behind your query instead of exact keyword matches.
Discover catalogue items that keyword search misses, speeding up request creation for every user.
Bill OCR
Protect every invoice with automated extraction, duplicate detection and mismatch alerts
Upload invoices in any format and let Penny extract and populate additional charges automatically.
Duplicate charges and total mismatches are detected and highlighted for review before approval.
Cut manual invoice entry, reduce overpayment risk and minimise billing disputes between buyers and vendors.
AI Mandatory List
Automated LCGPA matching and vendor recommendations for effortless local content compliance
Match RFQ items to mandatory list items on the LCGPA website automatically, using title, description and category.
Get LCGPA-approved vendor recommendations for each matched item, including contact details for unregistered vendors.
Add new local vendors directly to your RFQ and keep local content obligations on track with far less manual research.
End-to-End AI Assistant
Personalised, role-based assistance and account-level analysis for your entire team
Privilege-aware responses tailored to each user, from admins and buyers to requesters and basic users.
Ask questions about your own account data, such as approval time averages or request breakdowns by location.
Built on the AI Chatbot foundation and expanding over time, so support grows with your team.
Modernize procurement with Penny AI.
your customizable AI-driven solution
Frequently Asked Questions
What is procurement AI?
Procurement AI uses machine learning to automate and improve tasks across the source-to-pay cycle — from vendor selection and offer comparison to invoice processing — reducing manual work and errors.
How does Penny's AI Vendor Suggestion work?
Penny recommends vendors based on pricing competitiveness, sourcing frequency, and your organization's past purchase history, so buyers can select proven suppliers faster.
Can Penny read and process offer documents automatically?
Yes. Offer Autofill lets you upload vendor offers in PDF, Excel, or Word format, and Penny automatically maps them to the correct RFQ fields, flagging any mismatches for review.
Does Penny support local content compliance (LCGPA)?
Yes. The AI Mandatory List feature automatically matches RFQ items to LCGPA mandatory list entries and recommends approved local vendors.
How does Bill OCR reduce invoice errors?
Bill OCR extracts data from uploaded invoices automatically and flags duplicate charges or total mismatches before approval, reducing overpayment risk.
