In a complex procurement landscape involving 50,000 suppliers and nearly 200 countries, a large consumer packaged goods company needed to efficiently extract data from countless purchasing documents.
The company’s procurement division grappled with hundreds of thousands of documents in varied formats, types, and languages, leading to an inefficient manual review process. They were also faced with the underutilization of the available information for devising and implementing sourcing strategies.
Key Challenges
- Documents were in several different formats, types, and languages, leading to an inefficient manual review process
- Only six percent of the information available in the documents was being used for formulating and executing sourcing strategies
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The Solution
Using AI to translate information into structured data that would provide insights on internal buying patterns
Infosys implemented a generative AI solution, harnessing the power of Infosys Topaz, which can extract relevant information from the documents and translate that information into structured data. The use of this data could then enable the company to determine whether their buyers are utilizing preferred vendors and/or optimizing purchasing decisions.
Transforming procurement with AI-driven data structuring
- Use of generative AI solution using Infosys Topaz
- Extraction and conversion of relevant information into structured data
- Enabling optimized purchasing decisions and use of preferred vendors
Benefits
Targeted saving in spending: The company’s targeted annual saving in overall spend is 10 percent
Streamlined and structured data for enhanced procurement efficiency
