JAGGAER, a global leader in enterprise procurement and supplier collaboration, has unveiled version 24.3 of its JAGGAER One platform. This release marks a significant enhancement of its AI-driven capabilities, designed to help users work faster, increase profitability, reduce costs, mitigate supplier risk, and drive competitive advantage. With the integration of advanced AI and embedded intelligence, JAGGAER continues to empower procurement teams to optimize their workflow and contribute strategically to business outcomes.
- AI-Driven Features in JAGGAER One
- Chat with Your Contract: One of the standout features is the ability to use GenAI to engage in natural conversations with legal documents. This tool simplifies complex contract terms, helping businesses save time and money on legal reviews and consultations.
- Purchase Requisition and Invoice Approval Recommendations: New AI-driven tools offer purchase requisition approval recommendations and invoice approval streamlining, automating low-risk tasks and allowing users to focus on high-impact decisions.
- Procure-to-Pay (P2P) Enhancements
- AI-Powered Invoice Automation: Integration with AppZen offers AI-driven invoice automation, improving efficiency in invoice processing.
- “Guide Me” Wizard for Compliance: For infrequent buyers, a new “Guide Me” Wizard provides a step-by-step purchasing experience, ensuring compliance with procurement regulations and easing the buying process.
- Supplier Intelligence and Supplier Development
- Supplier Development Plans: New bulk management capabilities for supplier development plans allow users to boost efficiency and save time in handling supplier performance.
- Sustainable Procurement: JAGGAER One version 24.3 introduces the ability to incorporate carbon emissions estimates into sourcing decisions, helping businesses build more sustainable supply chains.
- Advanced Sourcing Capabilities
- Smart Supplier Matching: The new smart matching feature connects supplier attributes to rate structures, enhancing the sourcing process and bid exports.
- Bill of Materials (BOM) Costing Enhancements: The updated BOM costing capabilities offer role-based buyer views, improving decision-making in sourcing events.
- Public Sector Compliance and Flexibility
- Brexit Compliance: The release includes features to help public sector organizations stay compliant with post-Brexit regulations, with updated scoring mechanisms and reporting capabilities.
- Mobile Contract Approvals: A customizable mobile approval feature allows users to approve contracts on-the-go, providing greater flexibility in fast-paced environments.
- Vendor Fraud Prevention and Security
- AI-Driven Fraud Prevention: JAGGAER One now includes AI-powered fraud prevention, allowing users to perform bulk bank validations and secure payment chains through machine learning.
- Password Verification: The platform also enhances supplier security with password verification checks against leaked credentials, further ensuring safer supplier interactions.
JAGGAER’s latest 24.3 release is a game-changer for procurement, finance, and supply chain teams. With its array of AI-powered tools, enhanced supplier intelligence features, and a strong focus on sustainability, the platform continues to set the bar for procurement technology. By improving decision-making, optimizing workflows, and supporting compliance, JAGGAER One solidifies its position as a leader in the procurement technology market.
