SOUTHFIELD, MI, March 22, 2022 (GLOBE NEWSWIRE) -- Xeeva, the leading AI-driven Spend Management and Procurement software company serving hundreds of locations and enterprises worldwide, is pleased to announce the launch of Spend Analytics with Intelligent Opportunities and a fresh new look. With this new release, Xeeva customers will be able to evaluate and take action on application-generated savings and sourcing opportunities using an improved user interface.
Digital Transformation is More Than Automation
Cost savings are important but transforming how your data is handled and processed can significantly benefit your bottom line. By leveraging and embedding advanced AI/ML in spend analysis, we have developed algorithms that help in identifying and classifying data accurately, generating hundreds of Intelligent opportunities. By leveraging our Item and Supplier Universe data, our network of customers will collectively benefit. Our Spend Management platform driven by AI/ML learns from inputted data and improves as more data is received and processed.
“Solving our customers’ problems and helping with the digital transformation occurring in procurement is the reason we exist. We have committed ourselves to streamline and constantly improve our proprietary spend management software, helping you and your organization quickly deliver insights so you can make impactful decisions regarding spend across your entire organization,” says Nina Vellayan, CEO of Xeeva, Inc.
Messy, inefficient data leads to overspending but intelligent, enhanced, and easy-to-reference spend data leads to cost savings and an increased bottom line.
Enhancements to our platform utilizing intelligence can be used throughout the entire procurement process allowing Spend Analytics to quickly enhance your data quality to provide actionable insights in a flash.
Some benefits you will experience with our Next Generation Intelligent XVA platform are:
- Constant improvement and enhancement of your data with every refresh
- Automatic & intelligent enrichment of your data through a network effect across all spend processed through XVA
- Intelligent category planning delivering opportunities across 100+ categories
- Project planning to assist you in scheduling sourcing opportunities monthly or annually
With supply chain disruptions forcing increases in cost, Next Generation Spend Analytics provides visibility into tail spend, purchase price variances, and non-contracted spend. Then using AI and ML, our intelligence is able to provide you with viable, vetted new suppliers through Xeeva’s Marketplace. This assures our customers safe and efficient transactions.
Xeeva’s philosophy is to make our customers more competitive and provide value as quickly as possible. We leverage our experience and subject matter expertise to help you extract data from your ERP system, set up the Xeeva learning models, process your data, and configure your dashboards. We want you to benefit from our analytics solution and start making better decisions in six weeks or less.
Intelligent Opportunities – Automation to Eliminate Manual Tasks
Our AI/ML curates the spend transactional data on an ongoing basis to identify hundreds of savings opportunities allowing you to create a strategic sourcing plan. This process eliminates manual tasks involved in evaluating the spend data and in identifying, creating, and presenting many savings opportunities.
Enhancing Your Data Quality Gives You More Control Over Maverick Spend
Our extreme focus on Data Quality enables you to easily identify all spend under management to evaluate and efficiently process all your consolidated spend data to build a strategic category plan and actively helps you control any maverick spend to effectively realize savings on every level. This feature is another cornerstone in Xeeva championing the digital transformation of your end-to-end procurement processes.
This feature includes:
- AI-generated savings opportunities by category
- Spend and savings analysis for each opportunity
- Scoring and ranking of each opportunity
- Converting opportunities into structured sourcing initiatives
- Creation and visualization of wave plan by category
We Just Made it Easier To Use – Introducing Our Next-Gen User Interface
In conjunction with launching the Intelligent Opportunity capability, we have improved our User Interface, making it more intuitive and user-friendly. This improvement makes it easier for you to visualize spend analysis and your spending trends. You can easily access and download your underlying consolidated and enriched data.
Improvements include:
- New Data Quality dashboard
- User interface refreshed to improve usability
- Simplified ability to expand charts and interactively change chart styles
- The simplified ability to download charts as images and downloadable data
Better Data, Better Decisions, Better Outcomes
Xeeva’s spend management suite features a powerful AI-driven spend analysis solution, offering visibility into consolidated spend, identification, and creation of category-based sourcing opportunities to identify savings. Xeeva’s Sourcing solution, with its newly launched Intelligent Supplier Discovery, turns these potential savings opportunities into structured savings initiatives with clearly defined milestones.
As VP of Products Aparna Gude explains, “We are thrilled to be launching the next generation of Spend Analytics. We’ve worked very hard to ensure our AI-driven solutions digitally transform the procurement processes by leveraging cutting-edge technology and AI, making our solutions intuitive and user-friendly, and helping our customers realize savings. With this capability, we expect to see our clients save an average of 10% across various categories. We continue to work on and improve our solutions and look forward to sharing many more exciting new launches with you!”
Click here to learn more about Xeeva’s solutions.
About Xeeva
Xeeva is the leader in indirect spend management solutions that optimize the entire procurement process. With Xeeva’s data-driven spend management solutions, you can simplify, consolidate, manage, control, and conduct all spend-related activities in one place. Our end-to-end integrated cloud-based platform drives cost savings, visibility, and efficiency gains throughout the procurement process. For more information, visit www.xeeva.com.
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