Xeeva Unveils Significant Enhancements Across Its Indirect Spend Management Solutions

Expands capabilities around spend analytics, data enrichment, sourcing, and procurement, as well as underlying AI-powered XVA Platform; introduces new brand and solutions packaging

Xeeva, the leader in indirect spend management solutions that optimize the entire procurement process, announced that it has implemented significant enhancements across its solutions portfolio, enabling customers to address key challenges and experience rapid ROI throughout the full procurement process, beginning with the most comprehensive data enrichment capabilities. The Company also rebranded its solutions and underlying technology platform to better reflect its industry-leading capabilities across spend analytics, data enrichment, sourcing, and procurement.

“We are excited to announce both the extensive enhancements to our solutions, as well as our new branding, which better reflects the uniqueness of Xeeva’s approach to solving the challenges of indirect spend management,” said Nina Vellayan, President and CEO of Xeeva. “The biggest challenge in indirect spend management is the sheer volume and variety of data to manage. Xeeva has simplified and enhanced the entire procurement process, especially spend data analytics and insights, enabling our customers to drive rapid cost savings with global visibility and control.”

Xeeva’s solutions are the result of marrying specialized machine learning algorithms and industry expertise to drive immediate return on investment across all aspects of procurement. This combination of technical excellence and category-specific expertise provides a distinct advantage for customers who find that Xeeva’s solutions can be deployed rapidly with minimal to no up-front cost, provide guided insights, and are flexible to address the day-to-day needs of finance and procurement professionals.

Recommended AI News: LuxSci Provides Free HIPAA-Compliant Email to Labs

“Xeeva’s enhancements to our products are extensive, making them standouts in the market,” said Vikas Shah, SVP, Product and Business Development at Xeeva. “We have embedded new levels of intelligence and insights throughout our solutions, enabling our customers to reap even faster, more extensive benefits, while simplifying their overall procurement processes.”

Key enhancements made to Xeeva’s indirect spend solutions portfolio include, but are not limited to, the following:

XVA PLATFORM

The XVA (Xeeva) Platform, the AI-driven data platform that powers all of Xeeva’s solutions, is newly branded to highlight its importance in driving intelligent and predictive insights built on the digitized domain knowledge of 70+ indirect spend categories and a rapidly growing supplier and parts catalog reference dataset. Recent enhancements include:

• Additional pipeline models to increase spend analysis success on low-quality data
• Distributed cloud-native architecture for speed and scalability
• Improved integration to common enterprise ERPs with open APIs
• Standard integration across a wide range of data sources
• Enhanced EDI enablement for suppliers supporting AS2 formats
• Seamless user experience and unified access across all solutions

SPEND ANALYTICS

Xeeva Spend Analytics enables highly accurate and actionable insights that deliver immediate ROI, cost savings, and best practices across the enterprise through rapid, highly detailed data enrichment, including 30-day deployment for a unified item-level current spend view. Recent enhancements include:

• Instant savings estimates and next best action insights based on real-time spend patterns
• Highlights price variance across frequently bought and high-value transactions, capturing spend leakage across suppliers, categories, and regions
• Improved UX and configurability for finance and procurement users
• Flexible taxonomy management, enabling an easier, more streamlined process
• Instant classification at multiple levels, driving better, more accurate analytics

Recommended AI News: Abnormal Security Appoints Kevin Moore as CRO to Help Accelerate Company Growth

DATA ENRICHMENT

Xeeva Data Enrichment is the only AI-powered indirect spend data solution that thoroughly enriches imperfect data with granularity down to the part number and part description, enabling a complete picture of enterprise spend that is traditionally very time-consuming and expensive. Recent enhancements include:

• Expanded catalog parts universe of 30M+ items across 70+ indirect categories
• Deeper granularity for parts enrichment through improved reference matching
• Multi-language capabilities to handle global spend data, sites, and locations
• Instant data quality assessment supported by new natural language processing
• Greater speed and accuracy in data assessment, classification, and parts enrichment

PROCURE-TO-PAY

Xeeva Procure-to-Pay is a leading indirect procurement solution that provides an AI-powered guided buying process for optimizing and managing procurement operations of mid to large enterprises. Recent enhancements include:

• Enhanced AI-powered guided buying that provides an intelligent one-click capability to automate the spot buy RFQ process, substantially reducing buyer workload while increasing price competitiveness and multi-quoting compliance
• Improved supplier and catalog management to better manage preferred suppliers to improve guided buying against supplier agreements
• Broader punchout, including Amazon Business compliance for North America and Europe
• Enhanced inventory with additional integration support for external order submission and new improvements for critical item management, stock transfers, and re-order frequency control
• Extended globalization and tax compliance for localizing the user language, currency, and time zone experience
• Enhanced supplier classification and multi-level supplier familying, including improved supplier information management within Xeeva Marketplace

Xeeva’s extensive enhancements are already being recognized with Spend Matters including Xeeva as a solution leader in its Spring/Q1 2020 e-Procurement and Spend Analytics SolutionMaps and 50 Procurement Providers to Watch list.