Prescriptive spend insights
Different organizations need different lenses to explore and learn their business through data. Mithra-AI allows you to define your custom made KPI’s to capture the insights that fit your business model and needs
Purchase Price Variance
Purchase price variance or PPV is one of the key insights for any spend portfolio. With PPV in a matter of seconds, you can prioritize opportunities both at spend class as well as transactions for your team.
Spend concentration
How fragmented is your spend with your suppliers as a whole? Now think of knowing the same for each of your spend class in few second!
Spend concentration insight guides you to identify maverick spend, strategic and critical suppliers and eventually right size your supplier base.
Spend visibility
Spend taxanomy
Silo effect is very common in spend taxonomy. Mithra-AI breaking these silos among different groups by putting together all data and showing a holistic view of the organization’s spend taxonomy.
This is where teams can work together on one platform to align and improve on each class and its sub-classes avoiding any overlaps or inconsistencies in the structure.
Spend taxonomy is the backbone and fingerprint of the organization so keeping it up to date and accurate is most essential for well-oiled and trusted spend insights.
Spend data facts
Have seen your spend data through their taxonomy three?
Mithra-AI is allowing you to visualize and explore your spend both by volume of transactions as well as spend.
Each class (or category) of spend can be compared with others, overlaps, unclassified, and inconsistency are marked by Mithra-AI and this all take few seconds only! You can revise these as the next step in the same format and review new insights that come with it!
Data enrichment
Data is always polluted; that’s just a given. Our AI engine uses internal and external sources and cleanses/enriches millions of data points in no time, making them insight-ready.
Spend classification
Mithra-AI utilizes hundreds of models to test with your data set and generate your tailored-made classification algorithm. This algorithm works as an extension of your organization and learns your business.
As a result, you will have a 24/7 helper who is an expert in your business and able to classify new and old records whenever needed almost in no time.
Supplier hierarchy
Organizations use different (ERP) systems, even within the same there is always information missing or differences from each other for one or more reasons. Supplier relationship is one of the most critical insights for any spend profile.
Our AI engine pulls all of the spend profiles and generates a full list of suppliers with their relations (parent/child). This list will be reviewed for confirmation by your team and then used to generate new insights in your portfolio.
Agility in this process is key for the procurement team, something that the Mithra-AI team keeps center and focuses on all of the features.
