Rausey notes that the global nature of Prudential’ s global business added another layer of complexity.“ Classifying spend from all corners of the world is challenging, especially when we’ re looking at data in several different languages,” he says.“ It’ s pretty easy with US spend, but with Japan or Brazil, it takes the right use of our AI and machine learning capabilities. Understanding unique vendors across a global spend base is fundamental to procurement and we’ ve designed our tools for just that.”
Harnessing AI-powered insights
With clean, centralised data in place, Prudential is primed to harness AI-driven insights and accelerate smarter, faster decision-making across procurement. It now has the ability to integrate AI agents that can access spend data, contracts and meeting notes to build sourcing strategies in seconds rather than weeks. SpendHQ recently partnered with Sligo AI to develop these procurement agents, providing procurement teams with the building blocks of agentic AI in action.
“[ AI is ] giving teams the tools to create strategies, carry out negotiations and start projects, without having to build everything themselves”
Mitch Couper VP of Data & Analytics at SpendHQ
“ Think about having spend data, contracts and meeting notes with vendors in places that an agent could access,” concludes Mitch.“ It’ s giving teams the tools to build category strategies, build sourcing strategies, carry out negotiations and start projects, without necessarily having to go into documents and build everything themselves.” This sums up what procurement is becoming: intelligent, automated and profoundly strategic.
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