The alliance will merge IBM Watson and SAP Leonardo technology into a new application that aims at improving spend visibility by assisting buyers and enrich content management. IBM Watson is a cognitive procurement platform trained specifically to understand procurement transactions and unstructured data such as weather, non-standard part numbers in contracts and complex pricing structures.
As a result, contracting is expected to become smarter and more comprehensive, as the merged applications automatically identify relevant terms and conditions matched to legal library and taxonomy, uncover similar contract terms for a specific commodity by industry or region based on benchmarking data and suggest optimal prices to target based on expected volume and contractual discounts.
SAP Ariba and IBM will also explore automating the extraction of contract terms and summaries to help customers ensure compliance in next-generation procurement.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now