OPERATIONS
“ These enterprises see greater success with spend optimisation and risk reduction and enhanced collaboration with suppliers ,” Sunil continues . “ They have proved themselves to be better positioned to handle supply chain disruption and business impact due to changing laws , pandemics , inflation , climate and geo-political risks we ’ ve witnessed in recent times .”
Breaking this down further , Sunil believes an integrated S2P experience should cover connectivity across :
• Workflows : This might relate to seamless initiation of a contract request with legal teams after a procurement RFP award or a refreshed vendor ESG compliance report request by vendor managers and contract compliance managers during the life of the vendor relationship or contract
• Information : Instant access to POs and contracts for finance teams to verify vendor invoices against contracted terms and entitlements or contracted pricing for purchasing teams to order based on contracted prices and negotiated discounts .
• Insights : For example , instant sharing of AI-identified elevated vendor risk with vendor management , procurement , contracting and finance teams , or sharing of vendor contractual non-performance and disputed payment patterns and AI-generated insights with procurement for remediation and with finance for credit and penalty recovery .
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