Enhancements help eliminate the routine while providing greater intelligence for strategic sourcing and procurement
RESEARCH TRIANGLE PARK, N.C., Nov. 18, 2020 (GLOBE NEWSWIRE) — JAGGAER’s latest software release offers its customers an even better online shopping experience, a 360o view of suppliers across the source-to-settle purchasing process, AI-driven analysis of contract risk, new AI-driven sourcing optimization capabilities and many other new enhancements that will deliver value to buyers and sellers.
“Collectively, the enhancements we are announcing today amount to further progress on the journey toward the automation of routine procurement processes, together with the addition of new layers of intelligence that enable procurement professionals to play a more strategic role in their organizations,” said Jim Bureau, CEO of JAGGAER.
The JAGGAER ONE 20.3 software suite offers users an enhanced online shopping and invoicing experience. The eProcurement and Invoicing modules have been streamlined to make it easier for users to search for, find and requisition the goods and services they need. “In current market conditions it is vital for organizations to broaden the adoption of eProcurement to eliminate maverick or off-contract send,” Jim Bureau said. “With this new release we have updated the shopping cart, requisition, purchase order and invoicing user interfaces to make the whole process more like the online retail shopping experience familiar to non-specialist buyers,” he added.
The Supplier Management+ module in 20.3 places more supplier management resources at customers’ fingertips. It simplifies and streamlines supplier qualification and onboarding. It combines universal and category assessments, enabling users to assign a single assessment status to suppliers, which suppliers can update at any time. Supplier Management+ also makes it easy to delete duplicate, redundant or “onboarded by mistake” suppliers and generally enables easier rationalization of the supplier base. “With Active Supplier 360o the supplier is in view anywhere in the source-to-settle continuum. It extends basic supplier scorecards to provide a comprehensive view of any supplier’s activities including development plans and actions, contracts and collaboration. A major step forward in supplier management,” Bureau commented.
With 20.3, JAGGAER is also launching the Intelligent Award Navigator (IAN), an extension to its acclaimed Sourcing Optimizer. IAN improves award analysis in the sourcing of complex categories such as transportation, MRO, facility services, packaging and warehousing. Leveraging artificial intelligence and game theory, IAN presents the user with a series of choices designed to home in on the user’s relative preferences, while adhering to their defined business rules. Each time the user makes a decision, IAN learns more about their relative preferences and uses that information to explore, find, and present new options, guiding the user toward their ideal solution. “IAN moves you closer to the KPIs you are interested in and allows you to make the appropriate and best selections, while obeying all of the given scenario rules,” Bureau said.
Contract risk has become a more pressing concern than ever in the light of the pandemic, with many organizations forced to find and examine force majeure clauses in thousands of contracts, for example. A new AI-based Risk Analysis add-on to Contracts+, powered by risk assessment and analysis capabilities developed by JAGGAER partner EdgeVerve, performs an automated analysis on contract documents to determine the overall level of risk of the contract.
“The complexity of managing contracts, combined with a business priority to reduce risk exposure, means that many organizations are now looking to streamline the risk scoring process. They may have thousands of contracts on third-party or multi-party agreements. Reviewing these with the help of experts prior to signature is time-consuming and expensive,” Bureau explained. “Risk Analysis represents another huge step forward on the journey toward fully automated processes across the source-to-pay spectrum covered by the JAGGAER ONE suite,” he added.
Finally, JAGGAER has improved its support for e-invoice issuance in Italy via the Sistema di Interscambio (SdI) platform. Invoices can be directly issued for SdI from JAGGAER, whether self-billed or created by a supplier. JAGGAER now also supports the receipt of invoices from SdI should suppliers issue them directly through Italy’s e-invoicing platform.
“These and many other enhancements in JAGGAER ONE 20.3 make our solutions even more intuitive to use and provide the insight and intelligence to help them understand ‘what to do next’ at any point in the source-to-settle journey. Despite all the disruptions going on in the world, once again we have kept to our tri-annual release schedule and are helping our customers navigate challenging market conditions. Our customers always look forward to the enhancements and rely on JAGGAER to deliver on time,” Bureau concluded.
About JAGGAER: Procurement Simplified
JAGGAER is the world’s largest independent spend management company, connecting customers to a network of 4 million suppliers in 70 countries, served by offices located in the Americas, APAC, Asia and EMEA. JAGGAER offers end-to-end SaaS-based procurement solutions, including: advanced Spend Analytics, Category Management, Supplier Management, Sourcing, Contracts, eProcurement, Invoicing, Supply Chain Management and Inventory Management. These all reside on a single platform, JAGGAER ONE. JAGGAER has pioneered spend solutions for more than two decades and continues to lead the innovation curve by listening to customers and stakeholders in all industry sectors, public services and academia. JAGGAER holds 37 patents – more than any other spend management company.
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