APPROACH
Sancus was leveraged to consolidate Supplier data from Supplier Information Management and ERP systems, and then the problem was broken down to work towards providing actionable insights:
- Spend data was extracted from invoices
- Spend Taxonomy was created and then further classified into various buckets using AI/ML techniques
- Sancus helped create entity hierarchies using 3rd party APIs
- Lastly, Spend data was analyzed to identify saving opportunity by detecting price variances and anomalies in at SKU, Category, Geography, etc. level
KEY BENEFITS
- The client was able to better understand the supplier base because of data consolidation, and take effective strategic decisions
- The analytics layer on top of clean data helped identify cost-saving opportunities
RESULTS
- Reduced indirect spend by 9% in the first quarter
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