July 18, 2022

The State of The Union: Driving IT Procurement Success In 2022 And Beyond

Ed Scott, CEO ElectrifAi shares his thoughts on “Driving IT Procurement success in 2022 and Beyond” at ProcureCon IT Sourcing 2022, in Boston, MA (Jul 18-19). Please join us if you are attending the conference.

Companies today face unprecedented challenges due to rapidly spiking costs – input, energy, and financial. Procurement leaders have helped companies deal with this in the past. This time, the difference is that companies are awash with data, which holds the key to insights that can help overcome today’s challenges. Intelligent procurement, therefore, is key to dealing with current and future disruptions.

Data your strategic asset

Businesses today are drowning in data. The question often is how to extract insights from real-world messy and unruly data from disparate sources that have been accumulating unceasingly over the years. Can they make sense of it? Quickly?

The key is to identify relevant data that matters, enrich it, and then place a powerful layer of intelligence on top of this chaos. Machine Learning equips you with the power to do so precisely. ML can comb through the underlying swaths of data – structured and unstructured – looking for patterns and delivering deeper insights. This intelligence removes inefficiencies, increases productivity, helps deliver higher revenue, and picks out potentially wasteful expenditures.

The promise of ElectrifAi’s last mile Ai

Data-driven companies make decisions fueled by the “power” of their data. Typically, this involves leveraging machine learning and AI, and ElectrifAi’s pre-built ML products help enterprises achieve meaningful business outcomes.

ElectrifAi’s ML-based data transformation product creates robust data pipelines. First, it takes in the unstructured, structured, and scattered data from disparate, siloed systems across the business units. Then, it applies ML techniques, such as clustering and NLP, to classify and categorize the raw data. Finally, ML models operate on this clean, organized data to extract invaluable business insights.

Harnessing the power of organized data leads to a continuous intelligence stream that elevates procurement to a strategic function. ElectrifAi's SpendAi, ML-based products enable sustainable Spend Management because they continuously learn from real-world data and provide newer insights.

ElectrifAi: US' leading ML products provider

ElectrifAi is one of the US' leading ML products providers, with an extensive library of pre-built ML products enabling our clients to capture tangible benefits quickly. We work with the C-suite to understand and solve business problems through data and machine learning in diverse industries such as Higher Ed, BFSI, Life Sciences, Hospitality, Retail, Chemicals, Oil & Gas, Telecom, Insurance, etc. The insights generated by our ML products, such as ContactCenterAi, ReputationAi, InventoryOptimizationAi, RevCaptureAi and other products, have helped our clients realize consequential business outcomes in 6-8 weeks.

Our product does not require investment in a new platform or infrastructure. Instead, we leverage the data existing in your system to power the ML models to deliver business outcomes.

We are the last-mile product that sits on the top to solve specific business problems and bring about savings. Contact us to reimagine your business with last mile AI!