#USA #New York #procurement #AI Assistant #Precoro

Precoro Unveils AI Assistant for Procurement Enhancement

In an exciting development for the world of procurement, Precoro, a leading platform focused on centralizing and automating purchasing processes, has announced the launch of its groundbreaking AI Assistant. This innovative AI-powered chatbot is designed to provide finance, procurement, and accounts payable teams with immediate access to vital insights from their procurement data.

Gone are the days of sifting through endless dashboards or waiting on analyst reports. With the new AI Assistant, users can simply ask questions such as "Which suppliers have delayed deliveries?" or "What is our marketing expenditure this quarter?" and receive accurate and actionable insights within moments.

Consolidated Procurement Data

The AI Assistant integrates seamlessly into the Precoro platform, consolidating all procurement data into one accessible location. This feature gives users a real-time overview of their spending and supplier performance, making it easier to spot trends, mitigate risks, and keep procurement activities under control. Andrew Zhyvolovych, the CEO of Precoro, emphasized this point by stating, "We noticed that procurement teams were investing too much time in analyzing data, so we developed the AI Assistant to empower finance and procurement leaders to act without delay."

Instant AI Insights

The AI Assistant is ready to use right out of the box and requires no coding or complex setup. Customers in roles related to purchase orders or invoices can access it immediately. To engage with the Assistant, users simply open the feature in their accounts, filter their inquiries by supplier or date, and pose their questions. Common queries range from forecasting cash flow over the next month to identifying bottlenecks in the approval process.

For instance, a user might inquire, "How much cash outflow should we expect in the next 30 days?" The Assistant not only provides immediate answers but also allows for follow-up questions, streamlining the decision-making process.

Empowering Procurement Teams

What separates this tool from traditional methods is its ability to keep a history of queries. This functionality allows teams to efficiently monitor trends, refine their analyses, and make well-informed decisions regarding procurement operations. The move towards real-time data access symbolizes a significant leap forward in how organizations can manage expenditures.

Zhyvolovych further elaborated on reaching new frontiers in procurement with this initiative, stating, "The AI Assistant is just one step in our journey towards fully embedding intelligence within procurement operations. We have more innovations on the horizon that will further enhance our ability to analyze purchasing data and strengthen supplier relationships."

A Commitment to Innovation

Innovation is central to Precoro's mission. The platform continuously evolves by adding new features that expedite workflows, diminish friction, and provide organizations with greater control over their purchasing operations. With over a decade of experience in procurement automation, Precoro has established itself as a trusted partner, enabling over 1,000 entities across 80+ countries to transform their procurement methodologies from fragmented processes into structured and efficient operations.

By replacing the clamor of emails, disparate ERP modules, and laborious manual activities with a cohesive workflow, Precoro ensures that it meets diverse organizational needs while maintaining proper oversight and transparency.

About Precoro

In summary, Precoro's AI Assistant is set to revolutionize procurement processes by offering speedy insights, fostering effective decision-making, and enriching supplier relationships. To explore more about the AI Assistant and how it can enhance your procurement efforts, visit precoro.com.