Cleversave enables value capture through the in-built saving workflows called Smart Library. Smart Library captures both evident and non-evident variations to facilitate savings.
Cleversave's algorithm is self-learning and recommends opportunities intuitively to exploit more savings. In simple words, Cleversave is an innovative system to comprehensively find ways to save more money in the procurement domain.
Capturing data is mostly an offline process. Spreadsheets of initiatives are different for different suppliers, etc.
There are more than one ways to capture and calculate savings. Different methodologies are used for different categories and sometimes within the same categories itself.
Savings are dependent on quantities, the information of which is in different systems. This leads to the problem of data gathering and reconciliation.
Conflict between procurement and finance teams on validity of savings. Finance only recognizes unit price cost reduction from previous period. Proactive auctions, opportunity for negotiating lower prices than market etc are not considered.
Items with visible impact on P&L are critical. However, non-evident items are sometimes equally or more important, as they could significantly impact the next P&L without warning. This is usually overlooked due to the effort required.
Cleverspend can work with multiple data types and sources - including structured and unstructured data pulled from spreadsheets and file locations. This results in low infrastructure complexity & low cost.
Cleversave is equipped with latest HyperDB which works with enterprise data sources in real time. Cleversave temporarily pulls data from core BW into a temporary hyper database to provide current information to users
The engine calculates the savings / value for any period chosen by seeking "in" and "between" variations over different data dimensions. It can be set to identify abnormal patterns for forensic audits to validate savings.
An analytics engine with a mix of prediction, optimization and genetic self-learning algorithms. It identifies even the non-evident variations through detailed data analysis and automatically suggests saving.
Cleversave's key feature - Smart Library has 8 different methods of calculating savings, that can be used in as many as 60+ different combinations. Users can define their own framework of a workflow approved by procurement/finance leadership.
Cleversave facilitates inclusion, exclusion, partial exclusion and special treatment of specific data sets to enable the user to design rules or create on-the-go addressable and non-addressable spend boundaries.
Close Loop Workflow defines the approval workflow of savings, including the ones that impact P&L to the finance teams.
An intelligent display layer which structures the signals into smart tile views for different levels of procurement professionals. The common ones are Metrics Tiles, Price Comparison Tile, Rationalization Tile.
Smartbroadcast allows different users to view and self-serve based on access levels across different platforms like PC and Mobile.
Can work on top of existing procurement BI platforms
Procurement domain experts can create pre-set plugins for any category and industry
Can connect to any data source
Ability to create customized frameworks from the in-built library and to selectively apply them
Faster, easier and a comprehensive capture and reporting - almost real-time
Enhanced accuracy of savings and value capture. The audit trail can be traced back to the source
Increase in savings by 2-5% due to comparative analysis, visibility and comprehensive data capture