The Spend Agility company, Suplari, has to introduce introduced the new Agile Performance Management which is a new solution that allows the procurement planning of the spend, purchase order, risk management, and plans that that important to drive savings and higher financial performance.
Also has the ability to make automobile decisions driven by AI, results tracking, and a huge set if collaboration tools in order for enterprises to achieve their goals.
Due to the presence if incomplete data, finance, procurement Nd businesses have been struggling with things like coming up with a plan for the financials, savings, and business performance goals.
Information such as spend, purchase data, supplier information, contract terms is more often than not located in entirely complete systems that have no communication whatsoever. Hence there is no source of truth and then companies end up using an unorganized set of spreadsheets, emails, and documents to plan and set their targets and initiatives.
Hence, companies struggle with cross-team collaboration and financial improvements
So to counter these difficulties, Agile Performance Management was introduced which gives all of the necessities stated above, a systematic way of delivering value.
With allowing leaders to Plan, Execute and measure their initiatives, Agile Performance is able to provide a whole new experience when it comes to procurement performance in large organizations:
Plan: This creates initiatives that found upon real-time data based on predictive insights.
- Performance and Goal Setting -Set your goals for the first year or quarter to make sure that all the work is done to fulfill that goal.
- Planner- Helps in getting those goals in a more efficient/responsive way
- Executive Performance Dashboard – customizable dashboard for executive-level visibility and drive accountability
Execute: Powered by AI, Suplari automatically executes plans with efficiency and consistency, and allows collaboration with team members.
- Automation- Automatically gets repetitive done to give more time to high-value projects.
- Collaboration- Join with business stakeholders and direct participation for quicker and more efficient decision making
- Customizable workflows- workflows based on practices can be further modified
Measure: Tracks goals automatically via the organized data in all the systems
- KPI/Savings Calculators
- Savings Forecast
“The rapid pace of business transformation since the beginning of the pandemic means that procurement and finance leaders need modern performance tools to hold company-wide teams accountable,” said Suplari CEO Nikesh Parekh. “Using clean data from all systems and AI-based insights, Agile Performance Management automates planning, analyzing, and delivering results across the organization.”
“As the head of our procurement team, I’m held accountable for accurate spend projects and savings results across the company,” said Michael Shields, Director of Procurement at Qualtrics. “Setting accurate business performance goals and holding other teams accountable to them was challenging because we had data in different systems, and there was little visibility and ability to collaboratively plan. With Suplari I can now see clean data, set clear goals, check daily progress, receive AI-based savings recommendations, and pro-actively collaborate cross-functionally to improve results. It’s a game-changer.”