SAP has unveiled new business generative artificial intelligence (AI) and user experience innovations in the company’s spend management and business network solutions.
The innovations will help customers in controlling costs, reducing risk, and increasing productivity, said the German technology company.
SAP said that the newly launched SAP Ariba Category Management solution will leverage generative AI to help procurement professionals develop extensive and effective category strategies faster.
The general availability of the solution is scheduled by the end of this year.
SAP intelligent spend and business network president and chief product officer Muhammad Alam said: “These are just some of the examples of how we are thoughtfully integrating generative AI technology with our market-leading spend management solutions to help our customers be more productive.
“As with all of SAP Business AI solutions, we are developing these new spend management AI innovations with security, privacy, compliance, ethics and accuracy in mind.”
Besides, SAP will embed its new generative AI copilot, Joule, throughout its cloud solutions.
The embedded Joule is planned to be available in its spend management software next year.
SAP is also developing additional use cases in association with customers and those are anticipated to be available in the first half of 2024.
According to SAP, its new SAP Spend Control Tower solution will feature advanced AI offerings. It will also have the capability to view across all spend to help customers explore cost-saving opportunities and discover process improvements.
These solutions will be available beginning in Q1 2024.
The company has also integrated AI-driven supplier risk assessment capabilities into its source-to-settle software to enable business users make smarter decisions faster.
SAP said the capabilities are currently available in the SAP Ariba Sourcing, SAP Ariba Contracts, and SAP Ariba Buying solutions.
SAP Concur solutions provide a new Expense Payment Manager service that lets customers to reimburse employees in over 25 currencies.
Furthermore, SAP and AI-powered supplier intelligence and discovery platform company Scoutbee aim to integrate an AI-driven supplier search solution with the SAP Ariba Sourcing solution dubbed Scoutbee Discovery. The integration will be available in Q1 2024.
