Procurement Teams Rely on Aera Decision Cloud™ for Advancing Decision Intelligence with AI-Enabled Spend & Supply Management
Mountain View, Calif. — October 17, 2023 — Aera Technology, the Decision Intelligence company, today announced it has once again been recognized on the Spend Matters “50 Providers to Watch” list as an innovator for procurement and supply chain. The company also released its new Payment Terms Management Skill, strengthening the Aera Procurement Skills™ capabilities available on its Aera Decision Cloud™ platform.
Using Aera Decision Cloud and Aera Skills — customized, AI-enabled digitized decisions that provide the ability to understand, recommend, act, and learn for a set of business problems — procurement professionals can augment and automate sourcing and procurement decisions in real time and at scale across any or all procurement activities.
"Aera’s technology for decision intelligence sits at the intersection of data and analytics, AI, and automation/orchestration. Customers can develop actionable intelligence to automate and improve their decision-making processes by leveraging Aera's composable, scalable platform. It is also self-service, allowing customers and partners to build on the platform,” said Bertrand Maltaverne, Senior Analyst, Spend Matters. “Because it covers multiple business functions, it potentially allows customers to break silos and connect different parts of the organization. Actions can be automated, supervised or manual, and performed by internal users or suppliers."
Aera Decision Cloud brings all the decision-making logic, rules, and data into an integrated platform where objectives can work in line with each other. It harmonizes procurement processes with the rest of the organization, drawing from sources of data that procurement teams are not able to easily access using point solutions. Spend and supply can be managed, in context and in real time — capturing the causes of deviations between budgeted and actual spend, the decisions made, and the outcomes of those decisions. The result is a AI-fueled transactional procurement system with a supplier collaboration capability to apply Decision Intelligence and manage spend, supply, and even MRP exceptions.
“Spend Matters’ recognition of industry innovators underscores the critical role of AI, machine learning, and Decision Intelligence in advancing the next era of supply management,” said Shariq Mansoor, Chief Technology Officer, Aera Technology. “Through our work with procurement teams around the world, we see firsthand the advantages of accelerated, automated decision making across every aspect of procurement and supply in complex enterprise environments. This will continue to prove a strategic and competitive differentiator.”
New: Payment Terms Management Skill
The latest addition to its Aera Procurement Skillset, the Payment Terms Management Skill improves and speeds decision making for payment term negotiations.
Designed to improve Days Payable Outstanding (DPO) and increase working capital, the Skill understands contractual payment terms with vendors and generates informed recommendations to negotiate terms that are aligned with company goals. The Skill also provides alternative options, if desired payment terms are not accepted. For instance, if an enterprise wants to move all vendors to net 90, the Skill identifies suppliers with non net 90 terms, confirms if net 90 is a compliant term in the vendor’s country, and assesses the probability the vendor will accept net 90 based on knowledge of similar vendors, parts, and regional trends.
For more insight on Aera Decision Cloud and Aera Procurement Skills, view these Aera Technology resources:
- How Aera Decision Cloud Transforms Procurement
- Reinventing Sourcing and Procurement With Decision Intelligence
- Three Important Ways Decision Intelligence is Transforming Procurement
About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner.
About Aera Technology
Aera Technology, the Decision Intelligence company, transforms how enterprises make and execute decisions using AI for decision automation. The company’s innovative Aera Decision Cloud™ platform integrates with existing systems and data sources to enable business decision making in real time, at scale. Trusted by many of the world’s best-known companies and brands, Aera helps enterprises operate sustainably, intelligently, and efficiently. For more information, visit www.aeratechnology.com.