The platform boosts productivity by 20% and reduces overall procurement cost by 10-15%
19.02.2024 - 15:07:28LTIMindtree Unveils Navisource.AI: Revolutionizing Procurement CoPilot on Canvas.AI Platform
[NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, today announced the launch of Navisource.AI, a GenAI powered autonomous sourcing platform. Using the power of AI-driven pricing and negotiation engine, the platform aims to reduce overall procurement cost by 10-15 percent.
Navisource.AI revolutionizes procurement with AI, streamlining processes from requisition to risk management. It integrates with LLM and Model Catalogs via Canvas.AI, enhancing enterprise workflows. Compatible with Ariba and SAP S/4HANA, it provides comprehensive navigational and decision-making support.
“We believe that GenAI will drive transformation in three dimensions: functional reimagination, paving new ways of working, and intelligent automation. Enabling business transformation using GenAI is core to our strategy. With the reliability and trust in AI increasing, we foresee more autonomous AI-driven business processes being orchestrated. Navisource.AI will simplify indirect procurement processes, bring predictability, and free up a lot of time spent on manual activities so that procurement functions can focus more on strategic initiatives," stated Vineet Moroney, Senior Vice President, and Global Head of Enterprise Apps, LTIMindtree.
Procurement teams can use Navisource.AI for market research, pricing intelligence and recommendations with cost efficiencies at its core. The analysis engine powered by GenAI understands the requirements and arrives at the best fit sourcing strategy. It also eliminates manual touchpoints and enhances collaboration across supplier, procurement function and requestor.
Navisource.AI revolutionizes procurement with AI, streamlining processes from requisition to risk management. It integrates with LLM and Model Catalogs via Canvas.AI, enhancing enterprise workflows. Compatible with Ariba and SAP S/4HANA, it provides comprehensive navigational and decision-making support.
“We believe that GenAI will drive transformation in three dimensions: functional reimagination, paving new ways of working, and intelligent automation. Enabling business transformation using GenAI is core to our strategy. With the reliability and trust in AI increasing, we foresee more autonomous AI-driven business processes being orchestrated. Navisource.AI will simplify indirect procurement processes, bring predictability, and free up a lot of time spent on manual activities so that procurement functions can focus more on strategic initiatives," stated Vineet Moroney, Senior Vice President, and Global Head of Enterprise Apps, LTIMindtree.
Procurement teams can use Navisource.AI for market research, pricing intelligence and recommendations with cost efficiencies at its core. The analysis engine powered by GenAI understands the requirements and arrives at the best fit sourcing strategy. It also eliminates manual touchpoints and enhances collaboration across supplier, procurement function and requestor.
About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 82,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit https://www.ltimindtree.com/.
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 82,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit https://www.ltimindtree.com/.
