JAGGAER One 24.3 enables procurement, finance and supply chain to collectively boost cost savings, make better decisions, and accelerate digital innovation
JAGGAER, a global leader in enterprise procurement and supplier collaboration, announces the 24.3 version of its JAGGAER One platform. This latest release expands ten years of AI-enabled solution capabilities and enhancements that gives users the ability to work faster and easily leverage strategic insights to increase profitability, cut costs, reduce supplier risk, drive competitive advantage and innovation, and actively support evolving business needs.
JAGGAER continues to expand on its mission to create a hyper-automated, conversational and collaborative procurement platform that enhances human decision-making and accelerates business outcomes. JAGGAER One sits at the intersection of procurement, finance and supply chain and transforms how these teams work together with embedded intelligence.
“We understand the pressure procurement teams are under to drive their core mandates faster while also enabling broader business priorities and serving as a strategic advisor to the business,” said Dawn Andre, JAGGAER’s Chief Product Officer. “We’re rolling out more AI features and embedded intelligence where procurement needs it most – their daily tasks – to empower them to be more productive, make better decisions, and collaborate effectively to achieve bottom line impact.”
Included among the new AI-driven features in this product release are enhancements within Contracts, eProcurement, Invoicing and Supplier Intelligence:
- Chat with Your Contract: Utilizing GenAI, users can have natural conversations with their legal documents, translating complex terms into plain language and delivering significant cost savings by reducing review time and legal consultations
- Purchase Requisition Approval Recommendations: Approvers can work faster and focus on high impact tasks by automating the identification and approval of low-risk requisitions
- Invoice Approval Recommendations: Users can streamline invoice approvals by generating line-level confidence ratings and visual indicators based on historical data
- Vendor Fraud Prevention: Users can perform bulk bank validations using AI technology and machine learning securing the entire payment chain
- Contextual Assistant: Users receive the information they need based on their current tasks, providing more relevant and role-based guidance
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In addition, the 24.3 release includes improvements for Source-to-Contract (S2C). JAGGAER’s Value Tracker within Supplier 360 is enhanced to give teams more strategic planning and supplier management capabilities with an updated view of a supplier’s role in savings projects. Smart matching of supplier attributes to rate structures is now available between Advanced Sourcing Optimizer (ASO) and the new Advanced Rates feature to streamline sourcing events and bid exports. A customizable mobile approval feature for contracts provides flexibility for on-the-go approvals. Improved Bill of Materials (BOM) costing with role-based buyer views and new API capabilities. Bulk amend framework for efficiently updating connected supplier agreements. Version 24.3 also includes features designed to meet evolving public sector needs, helping organizations maintain compliance post-Brexit with updated scoring mechanisms and summary reporting.
Key updates in Procure to Pay (P2P) include an early adopter “Guide Me” Wizard providing infrequent buyers an easy step-by-step, structured guided buying experience ensuring compliance with every purchase. Integration with a new technology partner AppZen to offer AI-driven invoice automation. Version 24.3 also includes features that meet the need for compliance with emerging mandates across Europe such as eInvoicing format requirements.
Latest advancements in Supplier Intelligence include the ability to manage Supplier Development Plans in bulk through a new wizard to boost process efficiency and time savings. More sustainable supply chains by easily incorporating carbon emissions estimates into sourcing decisions per Supplier per RFQ with Carbmee CO2 data estimates. Password verification checks against leaked credentials ensure safer supplier interactions.
JAGGAER, a recognized leader in the procurement technology market, continues to set the standard for innovation by delivering comprehensive intelligent solutions. In the newly released IDC MarketScape Worldwide SaaS and Cloud-Enabled Direct Spend 2024 Vendor Assessment, where JAGGAER was named a leader, Patrick Reymann, Research Director for Procurement and Enterprise Applications, highlights, “JAGGAER offers a unified source of truth for spend, contract, and supplier management complemented by best in class souring optimization tools. This powerful combination offers true value add for complex sourcing events, including advanced BOM costing capabilities infused with automation and AI.”
Source: Businesswire