Our Impact

TPP enhance the value proposition of procurement, elevating the strategic value of the function

Case Studies

Generative AI delivering automation

Business Services Company in the UK

Issue

Due to poor quality of data entry on requisitions (120,000 raised p.a.) operational issues arise from incorrect goods delivered, incorrect delivery addresses, incorrect specification, incorrect quantity, price etc. Equivalent of 8 FTE’s per annum completing quality checks on data entry.

Solution

Generative AI LLM tool trained to review all data entry against. uploaded quote.

Users informed instantly of any mismatch and requestion stopped until correct data entered.

Value

ROI achieved of 8x through automation of tasks. Buyers released to higher value tasks, operational efficiencies delivered as correct specification and correct quantity delivered to correct address in a timely manner.

ML and Gen AI driving automation and analytics

Procurement Services company based in Europe

Issue

Client required Enterprise CLM platform to drive operational efficiencies across legal, sales and procurement functions.

Poor quality of contract data leading to operational and commercial risk.

Solution

Utilise ML to extract data from 100,000 plus contracts creating data repository to train AI engine, this increases P&L through new revenue streams and enhanced analytics to drive cost reduction and client engagment.

Value

ROI 15x plus delivered through 2-3% in additional savings delivered for clients over 3-year period, new revenue streams from enhanced AI platform and enhanced risk management in supply chain.

Examples of AI Solutions

Improve Risk Management by monitoring supplier performance in real time.

Instead of waiting until quarterly review meetings and reviewing excel-driven reports based on out-of-date metrics the introduction of AI-driven dashboards using dynamic data sources to monitor the performance of your strategic vendors, in real time, will improve performance and provide an enhanced stakeholder experience throughout the supply chain.

Reduce cost by up to 15% through improved analytics.

Take category planning and opportunity analysis to another level by replacing pivot tables and questionable data with AI-enabled spend and contract analytics. Create an intelligent, high quality database providing unapparelled insight into pricing schedules, accounts payable data and contract terms leading to enhanced, data-driven category strategies.

Unlock hidden savings with improved spend control.

Most complex invoices are signed off through the traditional 3-way match without any cross reference to the underlying contract. You can now utilise AI to introduce automated “4-way checks” for strategic / complex contracts. AI can reconcile contract performance with consumption data and invoices received to ensure payments are correct without manual intervention, potentially identifying up to 5% in overpayments and reducing manual effort in the accounts payable cycle.

Identify and mitigate contractual risk.

Most companies rely on a static repository to file pdf contracts, from which extracting and leveraging contract terms involves procurement or legal teams diligently maintaining the static data sets and reading the actual contracts to identify specific risks or issues. AI can now create an intelligent contract database allowing you to identify pre-defined risk factors from thousands of contracts at the press of a button, then automate the re-papering effort.

Reduce Procurement cycle time.

Reviewing the marketplace for vendors, evaluating them, running an RFP and negotiating a contract is a time consuming exercise, impacting the productivity of your procurement team and stakeholders alike. AI can now be introduced to evaluate RFP responses and support contract negotiation, enhancing productivity and cycle time significantly.

TPP Procurement research into AI and it’s impact on the Procurement Operating Model

Click here to receive a copy of the TPP Procurement research.

The Research Paper includes:

Overview of digital and AI adoption for procurement functions across the UK
Insights into the impact on people to identify areas for training or new roles are required
Understanding of Investment priorities. Identify key areas for investment and understand the challenges procurement face in deploying AI