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Neos Procurement Insight
Your spend under control
Are you having difficulties understanding your procurement KPIs and deriving value from them? Are you spending hours and days consolidating supplier and material data from multiple systems, just to produce simplest insights? Are you wasting time navigating through a sea of transactional reports and complex dashboards? Are you concerned about not recognizing spend issues on time?
SPEND SMARTER WITH NEOS PROCUREMENT INSIGHT
Key benefits
Performance analytics cockpit
Leverage a unified view of enterprise wide procurement metrics and indicators, served from multiple business applications and data domains through a single, streamlined user interface to ensure optimal experience.
Procurement process performance
Control your end-to-end procurement process by automatically identifying significant variations within procurement lead times, actual price trends, budget spend and other procurement areas, and real-time alerting to improve planning and internal process execution.
Spend monitoring & optimization
Identify spend optimization opportunities by analyzing historical trends and utilizing machine learning (ML) models and tailored business rules, to facilitate actionable decision making and increase the cost savings.
Supplier management and negotiations
Gain deeper insights into suppliers and their behaviour by utilizing a data-driven 360 analysis and smart scoring models, to help maintain a productive relationship while ensuring that cost and quality levels remain at expected levels.
Why use Neos Procurement Insight
Imagine being able to answer all your procurement questions, from a single interface and with only a few clicks. Imagine having all your material and supplier data in one place, having trust in it and being able to explore it to the tiniest detail. Imagine being served smart insights automatically and in real time.
Imagine having all of this up and running in a matter of weeks instead of months, without leaving a big dent in your budget.
Get a grip on your company’s spending habits with Neos Procurement Insights – a focused, visual and business friendly procurement analytics product-by blending procurement industry standards and best practices with powerful, machine assisted advanced analytics, built on top of a best in class technology foundation.
FEATURES
Advanced analytics algorithms for discovering specific anomalies and significant variations in purchasing strategy, on different process levels and across multiple data domains.
A product built on top of a single, flexible, best-in-class cloud technology, designed to reduce system deployment, setup and maintenance costs and timelines, and ensure the investment is future-proof.
Generic integration interface and pre-built connectors allow ingesting data from different procurement platforms (in-house built or provided by global software companies) into a unified, optimized data model, making the product truly vendor agnostic.
Out of the box business content, predefined algorithms and models, KPIs and anomaly detection definitions with flexible, interactive and compelling dashboards, as well as powerful self-service analytics and data blending features that cater both for casual procurement business stakeholders and power users alike.
Supervised ML models for data cleansing, standardization, unification and classification.
Technology Foundation
Oracle cloud is a family of self-driving, self-securing, and self-repairing cloud services,which supports a complex mix of high-performance transactions, including reporting, batch, Internet of Things (IoT), and machine learning in a single platform. This simplifies application development and deployment and enables real-time analytics, personalization, anomaly detection, and others, while maintaining lower cost and complexity and at the same time ensuring higher reliability, security, and more operational efficiency.
TECHNICAL PLATFORM
* Data extraction/load can be implemented by us or by Client in any preferred tool/technology** Source can be any procurement platform e.g. Oracle iProcurement
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INSIGHT
Explore how Neos Procurement Insight enables companies to understand their spending habits and get their spend under control.