Intelligent Procurement suite of Digital Applications | Cherrywork
Procurement intelligence refers to the process of gathering, analyzing, and utilizing information to make informed decisions and strategies related to procurement activities within an organization. It involves the collection and analysis of data from various sources to gain insights into market trends, supplier performance, pricing, risk factors, and other relevant factors that can impact the procurement process.
The objective of procurement intelligence is to enhance the efficiency and effectiveness of procurement operations by providing accurate and timely information. This information helps organizations make informed decisions about supplier selection, negotiation strategies, contract management, and overall supply chain optimization.
Procurement intelligence relies on both internal and external data sources. Internal data may include historical procurement data, spending patterns, and supplier performance metrics, while external data can include market research reports, industry news, economic indicators, and supplier databases.
By leveraging procurement intelligence, organizations can identify cost-saving opportunities, mitigate risks, improve supplier relationships, and optimize their procurement processes. It enables strategic decision-making, improves negotiation outcomes, and facilitates proactive supply chain management.
Cherrywork®️ Intelligent Procurement digital applications help improve the procurement process and make more informed and strategic purchasing decisions.
Transforming Procurement with Data-Driven Insights
With our intelligent procurement suite of data-driven applications, your procurement teams can make more informed decisions, drive efficiency, and reduce costs, delivering greater value to your business. The focus applications in Intelligent Procurement Suite are:
Cherrywork Accounts Payable Automation
Cherrywork Supplier Onboarding & Risk Management
Cherrywork Supplier Collaboration Portal
Cherrywork Spend Analytics
Cherrywork Intelligent Saving Program Management
Cherrywork CapEx & OpEx Management