AI Procurement Analyst

Streamline procurement through faster, at-scale management of diverse supply documents with the GenAI solution by Provectus.

  • Identify the best deals by automating analysis and comparison of procurement contracts
  • Proactively manage risks by scrutinizing contracts for compliance with industry regulations
  • Streamline the procurement cycle, allowing teams to shift away from administrative work
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Solution Overview

AI Procurement Analyst is a GenAI-powered solution for supply and procurement documentation management, designed to automate the processing and analysis of procurement documentation while ensuring policy compliance. Built on AWS, the solution leverages LLMs to extract, compare, and analyze various data from diverse documents.

The GenAI solution is an information retrieval and management system that can extract, process, and analyze diverse procurement data, such as pricing terms, delivery schedules, payment terms, penalties, and compliance requirements. Once extracted, the data is accurately organized and contextualized, enabling procurement specialists to identify variations and assess compliance risks.

AI Procurement Analyst is a powerful assistant for any procurement specialist who is looking to minimize routine manual tasks and reduce the time needed to prepare contract reports, while enforcing standardized compliance practices.

Types of documents that can be processed by GenAI:

  • Pre-procurement documents, such as Purchase Requisition, Request for Information, Vendor Evaluation, etc.
  • Purchase orders in different formats
  • Contracts and agreements, including SLAs
  • Supplier onboarding forms
  • Regulatory compliance and recordkeeping documents
How It Works
AI Procurement Analyst accurately extracts and processes diverse procurement data, organizing it in spreadsheets (numerical data) and as contextualized information displays (qualitative data). The solution simplifies information review and report preparation, helping to improve accuracy and consistency in document management, and to ensure compliance with industry regulations during the procurement process.
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Target KPIs
Transform your procurement document management operations with measurable improvements across key metrics, delivering unprecedented speed, accuracy, consistency, and cost-efficiency in AI-automated document processing.
90-95%
Automation of document
preparation work
50-80%
Reduction in document
processing time
20-50%
Increased efficiency in
document management
Getting Started with Provectus
Start your AI transformation today with our proven AI adoption framework. Explore our comprehensive GenAI offerings on AWS Marketplace and accelerate your journey from use case discovery to production deployment.

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