How Pipefy’s Gen AI Tools are Enhancing Procurement

Pipefy, a global leader in business process automation, delivers a leading platform that increases team productivity and efficiency, centralising data and standardised processes for teams in operations, finance, HR, procurement, customer support and more. 

Through its no-code process automation and AI framework, the firm helps clients achieve operational efficiency and optimal productivity for every team in every department. 

Founded in 2015, Pipefy now has more than 4,000 customers worldwide, including big players like Visa, IBM, Volvo, Santander and Kraft Heinz. Among numerous accolades, it features in the current Deloitte Technology Fast 500, a ranking of the 500 fastest-growing companies in North America. 

Pipefy is using Gen AI capabilities to accelerate workflow deployment, automate complex processes and analyse data – using natural language and a true no-code interface.

Ideal for procurement and purchasing, its AI tools simplify building, automating and managing workflows and processes for users, including businesses, citizen developers and IT teams.

Pipefy's AI offering is made up of three core features: AI Automation, AI Agents and AI Copilot. AI Automation eliminates manual and repetitive tasks, AI Agents deliver a service streamline and AI Copilot creates new workflows and provides data analysis and insights teams need to optimise the process.

“With Pipefy AI, the potential for improving procurement and purchasing operational efficiency and productivity, as well as enabling more data-driven decision making, is astounding,” says Alessio Alionço, CEO and Founder of Pipefy. 

“Every business has to deal with limited IT resources; Pipefy AI enables organisations to tap into knowledge workers and citizen developers to automate and develop workflows, while ensuring IT maintains governance and control over processes.”

 AI-driven automations

Pipefy's AI automations can execute manual, repetitive, high-volume tasks through its natural language, trigger-based prompts.

This feature is part of its automation engine and expedites tasks such as image recognition, data extraction and data interpretation. It significantly increases team efficiency by automating complex processes like matching data, verifying documents, generating content and summarising information.

For procurement/purchasing departments, examples of AI-driven automations with Pipefy AI include:

• Analysing purchase requests or item descriptions and automatically placing them into the appropriate procurement categories
• Automatically approving simple requests according to preset criteria, such as policies and budgets
• Scanning procurement and transaction documents to ensure compliance with internal policies, industry regulations and contractual agreements, flagging potential issues for further review and remediation.

Customisable AI agents

Through the use of AI-driven agents, Pipefy can focus on special delivery, making it easy for users to submit and track requests and locate and access documents alongside policies.

In addition to receiving fast responses to questions 24/7, the conversational experience allows users to interact naturally, making the process intuitive and engaging. 

In procurement/purchasing, examples of uses for the Pipefy AI-driven service agents include:

• Assisting employees in creating and issuing purchasing requests
• Providing automatic updates on the status of purchase orders and customer orders
• Answering FAQs about purchasing policies.

AI Copilot

Through its AI Copilot tool, Pipefy can build optimised workflows in seconds and deliver the data analysis and insights teams need to make strategic decisions.

AI Copilot can also guide users to the most effective way to utilise Pipefy.

For the procurement/purchasing department, examples of uses of AI Copilot include:

• Generating financial performance and delivery reports
• Analysing supplier data to identify best partners based on past performance
• Identifying bottlenecks, trends and root causes.

Security and compliance

Pipefy AI has security at its core, offering strict protocols to ensure the protection of data when using AI.

This includes data encryption in transit (TLS 1.2 and higher) and the use of anonymisation techniques to ensure sensitive data remains inviolable.

In addition, the OpenAI API platform used by Pipefy AI has been audited and certified for SOC 2 Type 2 compliance, ensuring that all processed data meets the highest standards of security and protection. 

******

Make sure you check out the latest edition of Procurement Magazine and also sign up to our global conference series - Procurement & Supply Chain LIVE 2024

******

Procurement Magazine is a BizClik brand.