We focus ondeveloping smart algorithms and analytics to help procurement and accounts payable. This means all processes from source to pay and managing spend.
Procurement and accounts payable
There is no one culture within procurement and accounts payables, as it varies depending on the organisation. However, there are some common themes among procurement and accounts payables cultures. These include a focus on cost savings, efficiency, and compliance. Procurement and accounta payables cultures also tend to be very detail-oriented, as accuracy is critical in the source to pay process.
Procurement is getting more complex. There are a number of reasons why procurement is getting more complex. One reason is the globalization of the supply chain. With more suppliers located all over the world, it can be difficult to manage the procurement process. More control over all expenditure is necessary to cope with sudden and drastic economic changes and rising inflation. Another reason is the increasing use of technology and data in procurement. This will lead to more complexity as organizations try to integrate new technologies into their procurement processes.
Procurement faces a number of challenges:
Procurement dashboards and reporting
Procurement dashboards can and will help procurement to be more in control. They can be used for a variety of purposes. One common use is to track Key Performance Indicators and performance metrics. This information can be used to identify areas of improvement and make changes to the procurement process. Dashboards are often used for day-to-daymonitoring and trigger operational activities.
Challenges with procurement dashboards
Where dashboards are really good to monitor the results and execution of processes, they are not so good in doing more in depth (complex) analyses, generate the right tactical and strategic actionable insights, drive optimizations and make predictions. This is where advanced analytics and artificial intelligence comes in.
Application of advanced analytics and AI in procurement
Advanced analytics and Artificial Intelligence (AI) can be used in procurement and accounts payables to optimize processes and improve outcomes and decision making. Additionally, advanced analytics and AI can be used to create diagnostic and predictive models. These models can be used to find hidden optimization opportunity’s, tell you where to improve, what influences the performance, forecast demand, identify risks, and make decisions about suppliers, brands, pricing and contracts. The algorithms behind it will do the job for you. The outcome is presented in the most optimal form to understand what you can do.
Do you need to buy software?
Because we have the algorithms run in the cloud, it is not necessary to purchase software yourself. All the algorithm needs is a dataset. The dataset is specified by ZuiverICT. The analysis will be executed on-demand.
Zuiver ICT was founded in 2013 and initially specialized in improving business processes using data.
Until 2020, the focus was on the use of Process Mining with which processes are visualized and analyzed based on data from information systems, e.g. ERP systems.
During our data-journey, the insight arose that many organizations are at the beginning of the same journey. The focus is still very much on gathering, storing and opening up the data in order to be able to generate the required reports.
However, much more business value can be generated from the data than unlocking data via a report. The development of data analysis is making substantial progress by using data science techniques. Much more is now possible. However, the chance of success is maximized if there is sufficient combined knowledge of data, business content and algorithms.
Zuiver ICT has the knowledge and experience to develop the (complex) algorithms and has therefore shifted its focus to the business functions Procurement and Accounts payable. In collaboration with our customers, we develop algorithms and analysis that deliver actionable insights en real business value.
Our main principle is: simplicity is the soul of efficiency. Therefore we aim to create the shortest path from data to value for our customers. Our approach and services are accessible to anyone who needs them.
To make it as easy, flexible and affordable as possible for you, we offer our analytics as an online service.