Sigmoid ProcurementIQ

Procurement teams often face challenges due to unpredictable supply chain disruptions, compliance risks, and inefficient spending. Sigmoid ProcurementIQ leverages AI-powered analytics to transform procurement decision-making by integrating insights from internal and external data sources. The solution enhances material planning, supplier relationship management, and risk assessment, ensuring cost efficiency and compliance while preventing disruptions.

Key Features:

1. AI-Driven Spend Classification - Optimize procurement spend Classify procurement data intelligently and manage tail spend to uncover hidden savings and improve efficiency.
2. Dynamic Discounting - Improve cost optimization Leverage dynamic discounting in accounts payable to optimize cash flow and maximize savings.
3. Supplier Discovery & Onboarding - Streamline procurement processes Identify, evaluate, and onboard suppliers efficiently while ensuring compliance and risk mitigation.
4. Procurement Risk Management - Prevent supply chain disruptions Assess supplier performance, monitor compliance, and predict procurement risks to ensure resilience.
5. Contract Compliance Monitoring - Maximize supplier agreements Track contract utilization, analyze supplier commitments, and optimize negotiated benefits.
6. Touchless Procurement - Automate workflows Enable seamless purchase approvals and procurement automation to improve efficiency and reduce manual intervention.

Benefits of Sigmoid ProcurementIQ:

1. Increased Efficiency - Automate procurement processes Reduce manual effort by automating purchase order creation and approval workflows.
2. Cost Savings - Optimize spend management Strengthen supplier negotiations and enforce budget adherence to achieve substantial cost reductions.
3. Higher Compliance - Ensure procurement policy adherence Streamline processes and maintain comprehensive audit trails to meet regulatory standards.

The following AWS workloads have been used in developing the above-mentioned solution:

1. Amazon SageMaker - AI-powered spend classification and predictive analytics for supplier performance assessment.
2. AWS Glue - Data integration across procurement and supplier systems.
3. Amazon S3 - Centralized storage for procurement and contract data.
4. Amazon QuickSight - Interactive dashboards for procurement insights and risk tracking.
5. Amazon Bedrock - GenAI-powered search for finding and updating procurement data.