Optimizing Vendor Spend via AI & Machine Learning
with Ken Male, CEO & Co-founder at CXO Nexus
Learn how enterprises like Nasdaq, Paramount, and Cigna are leveraging advanced technologies to automate (no FTEs required) the cleansing, classification, and categorization of IT Vendor Spend. Outcomes include vendor & supplier consolidation, negotiating leverage, cross-business collaboration, and peer benchmarking.
IT is often the largest component of SG&A. Vendor Spend makes up more than 50% of the annual IT budget yet visibility and transparency into that spend is not delivered by in place financial systems, forcing organizations to resort to manual, point in time, error-prone processes. The session will highlight how automation delivers real-time spend data and the optimization plays that affords.
"Automating the visibility into our vendor spend, both direct and indirect, optimizes our cost structure. By ingesting data from multiple systems we have stakeholders spanning the entire organization all working off of CIO InCight. It has been a game changer."
Shawn Bennett, Senior Vice President Vendor & Asset Management