In this edition of SpendBytes, we outline the effective solutions ideal to tackle the challenges that beset procurement analytics. A combination of data visualization, artificial intelligence, and service-as-a-product model can help businesses deliver real business value. Spend analytics, especially, can increase cost savings opportunity for businesses by manifold, by collecting, classifying, and analyzing procurement expenditure in real-time.
Deploying analytics to anticipate spending in the Sourcing & Procurement process can proactively define cost savings and improve risk handling.
A deep dive into the digitized sourcing & procurement space and why there is an urgent need for businesses to adopt procurement analytics solutions.
Newer technologies such as Artificial Intelligence (AI) and Natural Language Processing (NLP) have opened up a world of opportunities to revolutionize procurement processes.
Read about unique experiences and personal insights from our procurement professionals across the globe.
Vaman Sharma – Product Manager, Infosys BPM, India
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Vaman Sharma is the Product Manager for Sourcing & Procurement at Edgeverve, an Infosys company focused on building products and platforms for the sector. In his current role, Sharma is responsible for building platform roadmap and ensuring product visibility.
After 15 years of experience in managing supply chain for global Fortune 500 companies, Sharma transitioned to building omni channel products, chatbots, and visual analytics tools for the procurement sector. Sharma was also an entrepreneur prior to joining Infosys. As a Product Manager at Infosys, Sharma has made Artificial Intelligence pivotal to all Procurement Platforms and has built Natural Language Processing (NLP), voice recognition, recommendations, and classification as core capabilities.