JAGGAER: Enhancing Procurement with AI-Driven S2C & P2P

JAGGAER, a global leader in enterprise procurement and supplier collaboration, has launched version 24.3 of its JAGGAER One platform.

Building on a decade of AI-powered solutions, this release further streamlines operations, empowers users to make smarter decisions and helps organisations cut costs, minimise supplier risks and drive innovation. With these updates, the company aims to meet the rapidly evolving needs of businesses while reinforcing its position as a transformative force in procurement.

New features transform daily procurement tasks

Version 24.3 introduces an array of AI-driven tools designed to optimise procurement workflows and improve productivity. These enhancements enable teams to focus on strategic priorities while reducing time spent on repetitive tasks. Among the standout features are:

• Chat with your contract: Powered by generative AI, this tool lets users engage with legal documents in natural language. Complex terms are translated into plain language, speeding up review processes and cutting costs on legal consultations.

• Purchase requisition approval recommendations: This feature uses automation to identify and approve low-risk requisitions, allowing approvers to prioritise high-impact tasks.

• Invoice approval recommendations: By analysing historical data, the platform generates confidence ratings and visual cues for invoice approvals, streamlining the process.

• Vendor fraud prevention: AI technology validates banking details in bulk, securing payment chains and reducing fraud risks.

• Contextual assistant: Users receive tailored guidance relevant to their current tasks, ensuring they have the right information when needed.

“We understand the pressure procurement teams are under to drive their core mandates faster while also enabling broader business priorities and serving as a strategic advisor to the business," Chief Product Officer Dawn Andre explains.

"We’re rolling out more AI features and embedded intelligence where procurement needs it most – their daily tasks – to empower them to be more productive, make better decisions and collaborate effectively to achieve bottom line impact.”

The Source-to-Contract (S2C) module also sees improvements. The enhanced Value Tracker within Supplier 360 provides teams with advanced planning and supplier management tools.

Features such as smart supplier matching for rate structures and mobile contract approval capabilities simplify sourcing and approval workflows.

Enhanced solutions for public and private sectors

JAGGAER’s updates cater to a diverse range of industries, including public sector organisations navigating post-Brexit compliance. The 24.3 release introduces scoring mechanisms and summary reporting tools to ensure regulatory adherence.

Procure-to-Pay (P2P) improvements include the Guide Me Wizard, which offers step-by-step guidance for infrequent buyers, ensuring compliant purchasing decisions. Meanwhile, a new partnership with AppZen brings AI-powered invoice automation to the platform, enhancing efficiency in accounts payable.

The update also addresses sustainability goals with tools to estimate carbon emissions during sourcing events. By incorporating data from Carbmee, procurement teams can factor in environmental impact for more responsible supply chain decisions.

Additional measures, such as password verification checks against leaked credentials, also bolster supplier security.

Supplier intelligence tools have also been upgraded as teams can now manage supplier development plans in bulk through a streamlined wizard, saving time and resources.

Recognition and future outlook

JAGGAER’s continuous innovation in procurement technology has earned it recognition as a leader in the field.

In the IDC MarketScape Worldwide SaaS and Cloud-Enabled Direct Spend 2024 Vendor Assessment, JAGGAER was commended for its comprehensive approach.

Patrick Reymann, Research Director for Procurement and Enterprise Applications, adds: “JAGGAER offers a unified source of truth for spend, contract and supplier management complemented by best in class sourcing optimisation tools.

"This powerful combination offers true value add for complex sourcing events, including advanced BOM costing capabilities infused with automation and AI.”

Through the JAGGAER One platform, the company reaffirms its mission to create a hyper-automated, collaborative and intelligent procurement ecosystem.

By embedding AI at every level, JAGGAER empowers organisations to navigate complex challenges while delivering measurable results.

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