Are You Ready for Robots in Procurement?

Transcription

1 Are You Ready for Robots in Procurement? BB&T Rohan Ranadive SVP, EVM Program Group Manager EdgeVerve Systems Limited Nitesh Banga Senior VP Client Services sig.org/summit

2 Are you ready for Robots in Procurement? The Future of Procurement 15 March, 2017 SIG Global Summit EdgeVerve Systems Limited External Confidential

3 Speakers Nitesh Banga Senior Vice-president and the Global Head of Sales, EdgeVerve (An Infosys Company) Rohan Ranadive SVP and Third Party Program Group Manager, BB&T EdgeVerve Systems Limited External Confidential

4 Company Background EdgeVerve Systems, a wholly-owned subsidiary of Infosys, develops innovative software products and offers them on premise or as cloud-hosted business platforms. Our flagship procurement automation platform enables continuous value discovery and savings realization across the Source to Pay cycle through automation. BB&T is one of the largest financial services holding companies in the U.S. with $222.6 billion in assets and market capitalization of $30.6 billion. Based in Winston-Salem, N.C., the company operates 2,220 financial centers in 15 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services EdgeVerve Systems Limited External Confidential

5 Agenda Evolution of Procurement technology Vision for the Cognitive future of Procurement Live demo of a Procurement Chatbot Automation and AI across Source to Pay A Buy-side perspective Preparing for the future of procurement technology Overview of Procurement Automation EdgeVerve Systems Limited External Confidential

6 Automation / Business Value Evolution of Procurement technology Today ERP Procurement eprocurement Self Service Procurement Robotic Automation Cognitive Automation EdgeVerve Systems Limited External Confidential

7 Vision for the Cognitive future of Procurement Zero UI Procurement: Chat or based Predictive to Prescriptive Analytics Convergence of Internal and External Inputs Predicting potential scenarios of overruns, disruptions Combining with aggregated knowledge to prescribe responses Chat-based Analytics Hyperautomation of Spend Classification AI-based auto classification >95% Accuracy Machine-learning to derive classification rules from data Real-time classification PO raised / Invoice received EdgeVerve Systems Limited External Confidential

8 Demo: Taking the grind out of Procurement EdgeVerve Systems Limited External Confidential

9 Poll Have you thought about applying RPA or AI to Source to Pay processes? EdgeVerve Systems Limited External Confidential

10 Cost Reduction Value Generation Value Amplification Applying Automation and AI to Source to Pay Knowledge Driven Automation (PI + MANA) Market Intelligence based price indexing SLA / Performance Prediction Rfx Award Analyzer Rfx Response Scoring Rfx Template Standardization Contract Digitization Contract Template Standardization PR to PO Automation Invoice Digitization Candidate Ranking Cognitive Hiring Manager Tax code suggestion Payment Optimizer Flagging Based on Exception Trend Data Driven Automation (PI) Certificate expiry check Supplier Performance Scorecard RFx Questionnaire Consolidation RFx Cost Sheet Consolidation Contract Risk Analyzer Recommended auto-approval thresholds Market/Rate Intelligence Contract Compliance Budget Compliance Cost code validation Contract Compliance Budget Compliance Duplicate Payment check Cost code validation Early Pay Discount/Late Pay penalty analyzer Process Automation (RPA) Supplier management workflows Catalog upload and review automation Template Selection Data aggregation Sourcing workflow Template Selection Contract workflow Flip Contract to Catalog Requisition Automation FFT Automation PO Closure PO Management Workflow Convert frequent CW requirements into catalog Invoice Entry Invoice Workflow Invoice Process Follow-up Supplier Management Source Contract Procure Settle EdgeVerve Systems Limited External Confidential

11 Buy-side perspective How do you prepare yourself for this future of Procurement technology? EdgeVerve Systems Limited External Confidential

12 Preparing yourself for this future Executive Commitment IT + Business Alignment Expectations Clear Roadmap / Quick Wins Measures of Success Right Partner Technology + Services EdgeVerve Systems Limited External Confidential

13 Overview: Procurement Automation Sourcing Specialists Contract Management Users Buyers User Group: Users across the Source to Pay spectrum User-centric solution definition and design Superlative Buying Experience: Chat, Voice, GUI Intelligence, Pattern Recognition, Rich & Real Visual Process Orchestration: Pre-configured domain ontology, Drag & Drop modifications Micro-bots: Process, Lookup, Data Entry, Data Query, , etc. Adaptors: API, Screen-scraping, File extracts ERP 1 ERP n eproc 1 eproc n Systems of Record: Multiple underlying ERPs or eprocurement Systems EdgeVerve Systems Limited External Confidential

14 Nitesh Banga Rohan Ranadive - RRanadive@BBandT.com 2017 EdgeVerve Systems Limited (a fully owned Infosys subsidiary), Bangalore, India. All Rights Reserved. This documentation is the sole property of EdgeVerve Systems Limited ( EdgeVerve ). EdgeVerve believes the information in this document or page is accurate as of its publication date; such information is subject to change without notice. EdgeVerve acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. This document is not for general distribution and is meant for use solely by the person or entity that it has been specifically issued to and can be used for the sole purpose it is intended to be used for as communicated by EdgeVerve in writing. Except as expressly permitted by EdgeVerve in writing, neither this documentation nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, printing, photocopying, recording or otherwise, without the prior written permission of EdgeVerve and/ or any named intellectual property rights holders under this document EdgeVerve Systems Limited External Confidential

15 Evaluation How-to: Why? Your feedback drives SIG Event content By signing and submitting your evaluation, you are automatically entered into a prize drawing How? Option 1: App 1. Select Schedule 2. Select Schedule by Day 3. Select Day 4. Select Session 5. Scroll to Description 6. Click on the Evaluation link Option 2: Browser 1. Go to 2. Select Session (#04) COMPLETE & SUBMIT EVAL

16 Session #4 Are You Ready for Robots in Procurement? EdgeVerve Systems Limited Nitesh Banga BB&T Rohan Ranadive Download the App: bit.ly/sigamelia Tweet: #SIGspring17

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