Instant spend visibility
Use Case – LIFE SCIENCE
Global healthcare solutions company operating in +100 countries committed to improving lives through medical technologies, services, and solutions.
NEED: Spend visibility across systems and locations
Procurement team lacks holistic view on spend and it takes too much time & cost to collect the spend historical data and merging those efficiently in one place available for each category team.
Complexity is in disparate and disconnected data sources from different locations, teams, suppliers.
SOLUTION: Spend repository
Mithra-Ai allows for API connectioin as well as simple ERP extract on spreadsheet and loading those by spend owners across multiple locations. In no time, not only the full spend portfolio is visible across all business units and geographies, different systems but also company legacy taxonomy can be applied across all spend, creating visibility never existed before.
Spend synergies
Use Case – TELECOM
World leading telecom company in converged broadband, video, and mobile communications services with a healthy appetite for acquisitions
NEED: Understand supplier base and potential spend synergies
During due diligence and integration phases of an M&A project, procurement has a important role to define the cost synergy potential.
Complexity is that both companies have different taxonomies and there are tight deadlines and limited access to data and SME’s.
SOLUTIONS: Synergy finder
Mithra-Ai allows users to upload and compare different spend profiles in our cloud while getting instant results based on our customized synergy finder algorithm trained to accelerate taxonomy merge and prescribe cost saving opportunities.
Prescriptive insights
Use Case – MANUFACTURING
Market leader in mobility assets assembles in different plants sets of generic and specialized parts from local and international suppliers onto different frame brands.
NEED: Automated opportunity finder
Current spend analysis module is no longer capable to manage own taxonomy due to more frequent changes in taxonomy because of diversity in multi-tier supplier component sourcing.
Client is lacking a core procurement capability to spot opportunities on a frequent basis.
SOLUTION: AI-based prescriptive recommendations
Mithra-Ai designed an algorithm to learn and deploy their unique taxonomy across all spend. This allows for suppliers to upload their spend when needed. Business selects or defines customized KPI’s and Mithra-Ai will alert the team as any opportunity surfaces but also guiding the team through qualifying those opportunities toward realization of benefits as the ultimate goal.
