Digitate Launches ignio Cognitive Procurement, which Uses AI to Monitor Purchase Transactions

By Ralph Rio

Category:
Company and Product News

Digitate, a software venture of Tata Consultancy Services (TCS), announced the release of ignio Cognitive Procurement to help enterprises make smarter purchase decisions and take action faster.

ignio Cognitive Procurement leverages AI/ML to bring speed and scale to this process, enabling enterprises to deeply understand procurement behavior, monitor purchase transactions in the background, and intervene when needed.  It uses cognitive technologies to:

  • Identify items being procured with significant price variance along with price recommendations
  • Detect and flag purchase transactions exhibiting odd behaviors or undesirable price variances
  • Mine behavioral patterns that explain different types of exceptions requiring human intervention
  • Predict likely exceptions in purchase transactions ahead of time
  • Provide out-of-box analysis of spend along multiple dimensions

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