Suplari Agile Contracts Makes Contract Lifecycle Management Smarter, More Efficient With AI-powered Predictive Analytics
Suplari, the Spend Agility™ company, launched Suplari Agile Contracts, a solution that gives enterprise procurement teams a steady stream of predictive insights for monitoring and managing their full inventory of active supplier contracts. Suplari Agile Contracts connects automated contract processes to enterprise spend and supplier data, adding workflow, and delivering actionable business intelligence that alerts decision-makers to the best ‘next’ actions.
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@suplari_com launched Agile Contracts, which gives #procurement teams a steady stream of predictive insights for managing their supplier #contracts. #spendintelligence
Suplari Agile Contracts integrates enterprise spend data with internal and external supplier data and applies artificial intelligence to proactively identify cost reduction and cash flow opportunities. Results are displayed in an intuitive user interface (UI) that empowers business users to make immediate and effective decisions without additional support from data scientists and IT teams.
Suplari Agile Contracts can be implemented in less than four weeks, unlike the lengthy and complex implementations required by traditional contract lifecycle management (CLM) and enterprise resource planning (ERP) software.
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“McKinsey estimates that ineffective contract management and vendor management costs 9% of annual revenue, leading to $2.5 trillion in annual losses for the Fortune 500,” Suplari CEO Nikesh Parekh said. “Most contracts and supplier relationships are managed by the budget owner, leading to invoicing errors, lost volume rebates, poor vendor performance, missed renewal opportunities, and ineffective negotiations.
“But with Suplari Agile Contracts,” Parekh said, “we enable procurement teams, legal teams, finance teams, and the budget owners to make timely, intelligent negotiations and contract management decisions by monitoring the data, delivering intelligent alerts, and automating collaboration across key stakeholders throughout the company.”
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