The latest JAGGAER software release offers new artificial intelligence (AI)-based ways of measuring risk and optimizing the purchasing process, a press release says.
The JAGGAER ONE 20.3 software suite offers a streamlined eProcurement model and invoicing service, so people can easily search for and find, then requisition, the services and goods they need, the press release says.
Meanwhile, the Supplier Management+ module in the new release “simplifies and streamlines” the supplier qualification and onboarding processes, with the universal and category assessments combined. Users will be able to assign a single assessment status for suppliers, which will let suppliers update it at any time. In addition, that service also lets users delete duplicate or redundant suppliers, or those who were “onboarded by mistake,” with generally easier rationalization of the supplier base.
Also, the release will offer the Intelligent Award Navigator (IAN), which the press release says is an extension of JAGGAER’s Source Optimizer, and which will help with analysis in sourcing of categories like transportation, MRO, facility services, packaging and warehousing. It will give the user a series of choices meant to hone in on their individual preferences, with each use helping the AI system to better learn their preferences.
And there is a new risk analysis add on that will offer a new AI-based analysis to more easily determine the level of risk, the press release says.
Todd Boehler, vice president of product strategy at ProcessUnity, speaking with PYMNTS recently, said the third-party risk assessment is a delicate balance in which a company needs to take cybersecurity threats into account, particularly after everyone shifted to working from home.
Jim Bureau, CEO of JAGGAER, said the new capabilities “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,” according to the press release.