The use of automation technologies can look quite different in various parts of the procurement umbrella. For example, RPA (robotic process automation) may be developed to boost speed and accuracy in invoice processing or related data entry by automating typing and clicks previously executed by humans. In other areas, document and/or voice recognition automation features may be used to digitize incoming information.
In the area of strategic sourcing, Keelvar focuses on “Intelligent Sourcing Automation” which involves the use of multi-skilled bots powered by artificial intelligence and machine learning to improve the launch, execution, and outcomes of sourcing events. So rather than automating a hyper-specific, highly repeated and predictable task, these bots handle a variety of interdependent tasks in the context of an activity where reasoning based on fluid inputs is also required.
Here, the goal for this type of sourcing automation is to free humans from the tedious, lower-value (but still necessary) tasks associated with running these events while simultaneously elevating the quality and efficiency of determining optimal supplier award decisions. This is particularly true in spend categories where a higher frequency and volume of e-sourcing events come up, where automation yields a greater ROI over time.
In a 30-minute introductory-level webinar on February 24, 2021, we will cover FAQs we get about our sourcing automation approach, including:
- What makes this sourcing automation “intelligent”? What does that mean? How does AI/ML play a role?
- What do the bots do? How does this work?
- What are the best applications for this?
- What does this mean to the role of the human buyer?
- What results and benefits can be expected?
In addition, we’ll provide a live demo of one of the bots in our Logistics Botline.
We’ll also explain how this category-smart automation approach builds on the underlying sourcing optimization platform to lead to better outcomes.