LTIMindtree launches Navisource.AI GenAI-powered procurement platform
In a significant development that’s set to redefine the procurement landscape, LTIMindtree, a leading global technology consulting and digital solutions company, today unveiled Navisource.AI. This GenAI-powered autonomous sourcing platform is designed to revolutionize procurement processes, boasting an AI-driven pricing and negotiation engine that aims to slash overall procurement costs by 10-15 percent.
Navisource.AI stands out by streamlining procurement from requisition to risk management, integrating seamlessly with LLM and Model Catalogs through Canvas.AI. This enhances enterprise workflows and is compatible with renowned platforms such as Ariba and SAP S/4HANA, ensuring comprehensive navigational and decision-making support.
Vineet Moroney, Senior Vice President and Global Head of Enterprise Apps at LTIMindtree, emphasized the transformative potential of GenAI: “We believe that GenAI will drive transformation in three dimensions: functional reimagination, paving new ways of working, and intelligent automation. Enabling business transformation using GenAI is core to our strategy. With the reliability and trust in AI increasing, we foresee more autonomous AI-driven business processes being orchestrated. Navisource.AI will simplify indirect procurement processes, bring predictability, and free up a lot of time spent on manual activities so that procurement functions can focus more on strategic initiatives.”
Introducing Navisource.AI by LTIMindtree: Streamlining Procurement with AI-Driven Efficiencies
Navisource.AI is designed to empower procurement teams with market research, pricing intelligence, and recommendations, centering cost efficiencies. Its GenAI-powered analysis engine precisely understands requirements to devise the best-fit sourcing strategy, eliminating manual touchpoints and fostering enhanced collaboration across suppliers, procurement functions, and requestors.
The launch of Navisource.AI by LTIMindtree marks a pivotal moment in the use of GenAI within the procurement sector. By leveraging advanced AI to drive down costs and streamline processes, LTIMindtree is not only enhancing operational efficiencies but also setting a new standard for how technology can be used to optimize procurement. This platform’s ability to integrate with leading software and provide actionable insights represents a significant leap towards the future of autonomous and intelligent procurement solutions.