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Eyvo’s Artificial Intelligence (AI) is built in a way that it is smart, simple, and helps companies with their strategic objectives by saving crucial time.
Eyvo AI is a purpose-built tool designed to elevate AI in Procurement. It provides you with a layer of intelligent insight and decision-making capabilities that will increase the clarity, speed, and confidence in your procurement process. Eyvo AI's approach is focused, practical, and powerful; therefore, it will only enhance your workflow, rather than complicate it.
This is what we call – AI Procurement made elegant, effective, and efficient.
Procurement teams can become overwhelmed by the volume of supplier proposals and compliance packages, requiring constant manual review of supplier pricing, verification of certificates, analysis of supplier performance, etc. All these processes are labour-intensive and carry a high level of risk and failure.
Eyvo’s RFQ platform leverages artificial intelligence and enables buyers to make faster and better sourcing decisions.
Analyze supplier quotes automatically in real-time.
Spot potential delivery concerns or hidden risks at one glance
Comparison of suppliers’ bids side-by-side to quickly identify the most reliable bid
Supplier selection guided by AI-driven recommendations
Overall, buyers will save time, use less manual labour, and make more informed procurement decisions based on data.
The process of determining whether suppliers meet the necessary standards of compliance can be cumbersome and time-consuming for many organizations. Eyvo AI removes the complexity of supplier compliance processes.
Review supplier certificates, credentials, and compliance documentation automatically.
Lesser manual effort to cross-check documents for completeness, validity, and accuracy.
Take into account past performance and compliance history in assessing risk.
Deliver comprehensive and straightforward compliance reports that include risk ratings to assist you in selecting your suppliers with confidence.
Invoice processing does not always have to be manual. With Eyvo’s AI-powered OCR technology, companies can easily streamline their invoicing process.
Automate invoice data capture via OCR.
Minimise manual data entry and errors.
Faster invoice validation and processing.
Increase the accuracy of accounts payable workflows.
By employing AI in procurement, companies save time, improve accuracy, and gain better control over their expenditures through efficient automation.
Understanding how your company spends is crucial for better procurement decisions. With Eyvo AI, you can transform raw data into actionable insights.
Easily analyse procurement spend across categories and suppliers
Spot cost-saving opportunities and patterns in spending
Better budget control and planning.
Data-driven procurement and spend strategies
With Eyvo AI, compliance reviews are faster, and a greater degree of transparency and control can be brought to your procurement processes.
We are built for procurement. Unlike other AI tools that are more generic, Eyvo AI is explicitly designed for sourcing, supplier evaluation, and compliance workflows.
Eyvo AI contains only the functionalities relevant to the procurement team's needs, and without beating around the bush, you get the results you asked for!
With Eyvo AI, you can move fast, avoid risk, and make well-informed supplier decisions.
Eyvo AI is built to enhance human decision-making, not replace it. At Eyvo, we provide AI that works with your team and supports decisions, and not instead of it. This way, your team stays in control, and we simply help them get there faster and with greater confidence.
Eyvo AI is the collection of intelligent components of the Eyvo procurement system that enhances an organisation's ability to source suppliers, manage supplier compliance, log invoices, and analyse spend through artificial intelligence and automation.
Eyvo’s AI in the procurement process can be utilized in areas such as RFQ/RFP comparison, supplier compliance assessment, OCR-enabled invoice automation, and spend analysis, enabling procurement teams to make quicker and more informed decisions.
No, while Eyvo AI provides an analysis of supplier quotes, documents, and other materials, identifies risk areas, and offers a side-by-side comparison of supplier bids, it does not replace human decision-making regarding which suppliers are the best fit based on user-defined specifications. Ultimately, decisions will remain with the procurement team.
Eyvo AI processes all incoming supplier quotes and documents in real-time, flagging any identified risk areas, providing side-by-side comparisons of supplier quotes, and recommending the best suppliers based on the team's defined criteria.
Eyvo AI enables automated review of a supplier's certificates, compliance documents, previous performance, and other relevant information. It generates an easy-to-read report that assigns risk levels to each identified issue.
Eyvo utilizes OCR in conjunction with AI to easily pull invoice data into the Eyvo system, which will result in reduced human error associated with manual data entry, increased accuracy, and speedier processing of invoices.
Yes, spend analysis powered by Eyvo's AI will allow procurement staff to identify trends in their spending and identify opportunities for cost reductions through improved supplier performance.
Yes. Eyvo AI operates within the platform’s secure environment, ensuring data privacy, accuracy, and compliance with enterprise procurement standards.
