What is SAP Spend Control Tower?
The solution includes advanced AI features and the ability to see across all spend areas to help customers uncover cost-saving opportunities and find process improvements. The new capabilities will be available starting in the first quarter of 2024.
New dashboards in SAP Ariba Sourcing and SAP Ariba Buying solutions also give customers near real-time information within key process workflows, making it easier for procurement professionals to help make informed decisions.
For the past year, Muhammad Alam, president and chief product officer of SAP Intelligent Spend and Business Network, and his team have been speaking with SAP customers, gaining an understanding of their spend management challenges and envisioning solutions to address them. This includes assessing the buzz around artificial intelligence (AI) to separate what is the hype from the real promise.
“In the hundreds of conversations I’ve had with customers in the last year, the No. 1 ask I get from them is the ability to see and analyse their spend across all categories,” Alam said. “And by ‘spend’ I mean more than just the financials. Today, spend also means the carbon emissions impact across all categories.”
SAP Spend Control Tower offers AI features and the ability to see across all spend – in SAP’s cloud ERP solutions, SAP Ariba solutions, SAP Fieldglass solutions, SAP Concur solutions, and SAP Business Network – to help uncover cost-saving opportunities and process improvements, beginning in the first quarter 2024. Alam said he was also “excited about AI driving scope 3 carbon emissions reporting in SAP Spend Control Tower.”
All of the spend data is rationalised in a unified data model as part of our next-generation data lake, the supplier data platform. Three years in the making, it is the backbone for all of SAP’s spend analytics. In addition to fueling SAP Spend Control Tower, it also enables embedded spend insights in our applications and powers our generative AI innovations.
For the past year, Muhammad Alam, president and chief product officer of SAP Intelligent Spend and Business Network, and his team have been speaking with SAP customers, gaining an understanding of their spend management challenges and envisioning solutions to address them. This includes assessing the buzz around artificial intelligence (AI) to separate what is the hype from the real promise.
“In the hundreds of conversations I’ve had with customers in the last year, the No. 1 ask I get from them is the ability to see and analyse their spend across all categories,” Alam said. “And by ‘spend’ I mean more than just the financials. Today, spend also means the carbon emissions impact across all categories.”
SAP Spend Control Tower offers AI features and the ability to see across all spend – in SAP’s cloud ERP solutions, SAP Ariba solutions, SAP Fieldglass solutions, SAP Concur solutions, and SAP Business Network – to help uncover cost-saving opportunities and process improvements, beginning in the first quarter 2024. Alam said he was also “excited about AI driving scope 3 carbon emissions reporting in SAP Spend Control Tower.”
All of the spend data is rationalised in a unified data model as part of our next-generation data lake, the supplier data platform. Three years in the making, it is the backbone for all of SAP’s spend analytics. In addition to fueling SAP Spend Control Tower, it also enables embedded spend insights in our applications and powers our generative AI innovations.
*************************************************
For more insights into Procurement & Supply Chain - check out the latest edition of Procurement Magazine and be sure to follow us on LinkedIn & Twitter
Other magazines that may be of interest - Supply Chain Magazine | Sustainability Magazine
*********************************************
BizClik is a global provider of B2B digital media platforms that cover 'Executive Communities' for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.
BizClik, based in London, Dubai & New York offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.