Global procurement and sourcing leaders have increasingly seen their responsibilities shift from traditional vendor selection to today’s proactive management of third-party risks and compliance, both from a diligence and a contractual perspective. The same leaders have been tasked with gathering and reporting on key vendor-management metrics, many of the details of which reside in one or more contractual documents governing the vendor relationship. The challenge, of course, is that extracting detailed business, risk and compliance data from contractual documents is complex, time consuming and expensive.
Procurement Insight™, the procurement and sourcing analytic pack, is Apogee’s comprehensive answer for the sourcing professional’s contract analysis needs. Built by Apogee on the Seal Software contract analysis platform, Procurement Insight combines the best of artificial intelligence with Apogee’s deep understanding of the procurement and sourcing professional’s business, compliance and regulatory needs. Procurement Insight delivers an unprecedented level of insight and automation into the enterprise vendor contract world.
Procurement Insight will “close the gap” between the work that businesses are undertaking with respect to third-party diligence and the actual underlying terms of their contractual relationships.