KEEP SUPPLIER DATA FRESH – WITHOUT THE CHASE

supplier updates every month

reduction in Supplier Support on Graphite’ s commercial data. By integrating data points like which supplier bank accounts have been successfully used by other companies in the Graphite network and when, teams can feel confident that they’ re submitting payments to the right account. Positive bank account verification can also serve as an override, allowing trusted accounts to bypass other security checks.

“ When a supplier shows up with a bank account change, or an entry submission of data that doesn’ t line up with what we already know about them, then that’ s red flagged immediately as a high-risk activity.”

The system’ s value increases with each new participant:“ Every new supplier that comes in expands the scope of the protection that the network provides.”

onboarding time for active Graphite suppliers

Unlike static databases that require constant manual updates, Graphite Connect functions as a live network where suppliers actively manage their own profiles.

AI in supplier management Graphite is leveraging artificial intelligence across three primary dimensions.

First, AI helps suppliers populate their profiles more efficiently:“ AI is helping us get the data into the profiles faster and keep it up to date better. So streamlining it for the supplier so the supplier can simply upload documents and then those documents can translate into their profiles.”

Second, it enhances buyers’ ability to analyse supplier information:“ We’ ve now used AI to be able to look at text-based answers and documents in order to evaluate the text and not just the yes or no or multiple choice kinds of questions and provide sentiment, extract metadata, summarise documents.”