Spark AI: Unlock the Full Potential of Strider’s Exclusive Procurement Data
The Power of Procurement Data
Procurement data plays a pivotal role in organizations today. When properly utilized, it serves as the informational backbone for strategic decision-making and operational efficiency.
By capturing essential details about supplier relationships, purchasing activities, costs, and performance metrics, procurement data empowers organizations to optimize their supply chains, ensure compliance, and enhance transparency. This data not only aids in informed procurement decisions but also helps mitigate risks, streamline processes, and foster accountability.
And now with the integration of Spark AI in our Supply Chain Intelligence product, clients can get critical access to procurement data by simply asking a question.
Utilizing Spark AI
Spark AI is Strider’s latest capability harnessing generative AI technology. Implemented as a chat function in Supply Chain Intelligence, Spark AI revolutionizes the way you access, analyze, and utilize Strider’s procurement data. Simply type in a question relating to procurement history and get immediate answers about organizations, goods, and services that have transactional history with nation-state governments, defense, and military organizations. Source documents are always included for rapid verification.
Spark AI makes procurement information more easily accessible and can reveal gaps and opportunities that organizations might not be privy to otherwise. Here are a few ways Spark AI can be a crucial addition to the procurement process:
Spark AI Can Reveal Supplier Relationships
- Companies can discover other suppliers, evaluate their existing supply chain relationships, and potentially identify new partners. This additional insight can lead to better negotiation terms, improved supplier collaboration, and enhanced overall supply chain efficiency.
Spark AI Can Help Mitigate Risk
- Supply Chain Intelligence can show potential risks in an organization’s supply chain, including geopolitical vulnerabilities. From there, users can use Spark AI to ask questions and gain a more holistic view of procurement activities.
Spark AI Can Help with Regulatory Compliance
- Comprehensive procurement data can help companies ensure compliance with ever-changing regulations and industry standards. By proactively clearing suppliers' compliance records, companies can minimize the risk of legal and regulatory issues.
Spark AI in Action
Here’s just one example of how Supply Chain Intelligence and Spark AI can work in tandem. An organization using Supply Chain Intelligence discovers that one of their suppliers has a Risk Signal of "Military Ties." Supply Chain Intelligence data reveals that this supplier appears on a list of registered defense industry suppliers maintained by the People's Liberation Army. The user can then turn to Spark AI’s chat feature and ask what that specific company supplied to the People's Liberation Army in a specified timeframe. Spark AI will offer an answer in simple text along with source documents of that procurement data. That organization can then search for other potential suppliers that have a more compliant track record if necessary.
Spark AI is your key to unlocking unparalleled access to our proprietary data assets. Better ensure security and compliance, strengthen your supply chain relationships, and leverage Strider’s growing procurement data. Request a demo today to see Spark AI in action.