JAGGAERa global leader in enterprise procurement and supplier collaboration, today announced version 24.3 of its JAGGAER One platform. This latest release extends ten years of AI-driven solution capabilities and enhancements that give users the ability to work faster and easily leverage strategic insights to increase profitability, reduce costs, reduce risk. to suppliers, drive competitive advantage and innovation, and actively support evolving business needs. .
“We understand the pressure procurement teams are under to deliver on core mandates faster while enabling broader business priorities and acting as a strategic advisor to the business. »
JAGGAER continues to expand on its mission to create a hyper-automated, conversational and collaborative procurement platform that improves human decision-making and accelerates business outcomes. JAGGAER One sits at the intersection of procurement, finance and supply chain and transforms the way these teams work together through embedded intelligence.
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“We understand the pressure procurement teams are under to deliver on core mandates faster while enabling broader business priorities and acting as a strategic advisor to the business,” said Dawn André, JAGGAER Product Director. “We’re deploying more AI and embedded intelligence capabilities where procurement needs it most – in their daily tasks – to enable them to be more productive, make better decisions and collaborate effectively to achieve impact on results. »
New AI-powered features in this product release include improvements to contracts, e-procurement, invoicing, and supplier intelligence:
- Talk to your contract: Using GenAI, users can have natural conversations with their legal documents, translate complex terms into simple language, and generate significant savings by reducing review time and legal consultations.
- Recommendations for approval of the purchase requisition: Approvers can work faster and focus on high-impact tasks by automating the identification and approval of low-risk requests.
- Recommendations for approving invoices: Users can streamline invoice approval by generating line-level confidence assessments and visual indicators based on historical data.
- Supplier Fraud Prevention: Users can perform bulk bank validations using AI technology and machine learning, securing the entire payment chain.
- Context helper: Users receive the information they need based on their current tasks, providing more relevant, role-based advice.
Additionally, version 24.3 includes improvements for Source-to-Contract (S2C). JAGGAER’s Value Tracker within Supplier 360 has been enhanced to provide teams with more strategic planning and supplier management capabilities with an updated view of a supplier’s role in savings projects. Intelligent matching of supplier attributes with pricing structures is now available between Advanced Sourcing Optimizer (ASO) and the new Advanced Rates feature to streamline sourcing events and deal exports. A customizable mobile approval feature for contracts provides flexibility for approvals on the go. Improved Bill of Materials (BOM) costing with role-based buyer views and new API capabilities. Mass modification framework for efficient updating of agreements with connected suppliers. Version 24.3 also includes features designed to meet the changing needs of the public sector, helping organizations maintain compliance post-Brexit through updated scoring mechanisms and summary reporting.
Key updates to Procure to Pay (P2P) include a “Guide Me” wizard for early adopters, providing infrequent buyers with a guided, step-by-step, structured and simple purchasing experience, ensuring compliance for every purchase. Integration with new technology partner AppZen to deliver AI-powered invoice automation. Version 24.3 also includes features that address compliance needs with new requirements in Europe, such as electronic invoicing format requirements.
The latest advances in Supplier Intelligence include the ability to manage supplier development plans in bulk through a new wizard to improve process efficiency and save time. More sustainable supply chains by easily integrating carbon emissions estimates into sourcing decisions by supplier and RFQ with estimates from Carbmee CO2 data. Password verification controls against disclosed credentials ensure more secure interactions with vendors.
JAGGAER, a recognized market leader in procurement technology, continues to set the standard for innovation by delivering comprehensive intelligent solutions. In the new IDC MarketScape Worldwide SaaS and Cloud-Enabled Direct Spend 2024 vendor assessment, in which JAGGAER was named a leader, Patrick Reymann, research director for procurement and enterprise applications, emphasizes: “JAGGAER offers a unified source of truth for expenses, contracts. and supplier management complemented by the best supply optimization tools. This powerful combination delivers true value for complex sourcing events, including advanced BOM costing capabilities infused with automation and AI.
These strengths underscore JAGGAER’s commitment to driving innovation through data-driven insights and automation. Additionally, for the fourth year in a row, JAGGAER was named to the Gartner Hype Cycle for Artificial Intelligence, 2024.
For more information about JAGGAER ONE 24.3, JAGGAER customers can view full enhancement details in the Product Release Library.
Learn more about JAGGAER and its AI-powered solutions.
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