ROI: return of $290K per annum (7X ROI) for a group of 15 procurement managers and officers
Using AI to provide procurement managers and officers with faster, more meaningful insights to support cost reduction and compliance strategies. Anna allowed procurement team members and external stakeholders to obtain a personalised understanding of the key drivers of their cost across various areas - such as divisions, categories, suppliers and teams.
Problems we were tasked to solve and audience
Procurement managers have limited time to manage an ever-increasing number of spend items, understand business challenges and compliance requirements, forecast expense & renewal accurately and be an expert in a large number of potential needs/markets.
In this large Australian FMCG organisation, procurement managers were asking for up to date information about which suppliers to contact and to negotiate better pricing/terms, which POs that were not compliant, which categories have a high number of suppliers who are not contracted. While they did have some basic reports and dashboards that had been created by their analyst team, most of the team relied on piecemeal excel spreadsheets to manage their areas. They were unable to answer ad-hoc questions that arose from C suites quickly or compare performance across categories/teams.
Key areas that Anna addressed
Result delivered (sample questions)
Revenue and Key Drivers
Key Driver Factors
Summary of value
Procurement managers and officers create monthly reports to retrospectively review procurement spends and plan how they will achieve budget in the following month. Before Anna, the process of gathering the required data and insights was estimated to take an average of 2 business days (16 hours). After the implementation of Anna - this was reduced to 90 minutes per category - saving 14.5 hrs per month, per category manager. This equated to a time-saving worth over $290K per annum (7X ROI) for a group of 15 procurement managers/officer.
Other benefits include:
C-suites, Finance team and Procurement team are able to quickly see their performance against KPIs and quota and understand how they are pacing against their quarterly and annual targets.
Procurement managers and officers now have a proactive way to keep track of changes in their category spending and can take quick and relevant action.
Tasks such as creating your own reports or dashboards require the knowledge of where to navigate through your data for insights, but this has been proven difficult and time consuming.
Using the power of AI, Hyper Anna executes millions of hypotheses to discover complex patterns in datasets. The most practical and relevant insights are then pro-actively delivered to your inbox. In contrast to large teams of analysts finding answers from data, Hyper Anna will single- handily do it in a matter of hours.
In this example below, Hyper Anna automatically suggests a sales manager to look into performance of his team members where their current month performance has changed significantly.
Getting insights from data is now as simple as asking a question.
In this example below, the sales manager asks Anna to analyse revenue trend for each of his team member.