Xeeva Enhances Procurement Spend Data Management

In an effort to help clients tackle critical challenges and experience quick ROI during the complete procurement process, Xeeva said it has put significant enhancements throughout its array of products into place. The indirect spend management company also rebranded its products and technology platform to better show its capabilities throughout sourcing, procurement, spend analytics and data enrichment, according to an announcement.

“Xeeva’s enhancements to our products are extensive, making them standouts in the market,” said Xeeva SVP, Product and Business Development Vikas Shah. “We have embedded new levels of intelligence and insights throughout our solutions, enabling our customers to reap even faster, more extensive benefits, while simplifying their overall procurement processes.”

The company says its solutions are the product of bringing together industry knowledge and specialized machine learning algorithms to bring about “immediate return on investment across all aspects of procurement.” It also notes that its solutions are flexible to meet the daily needs of professionals in procurement/finance, offer guided  insights and can be put into place with “minimal to no up-front cost.”

The XVA (Xeeva) Platform, which is a data platform driven by artificial intelligence (AI) that fuels all of the firm’s products, was also newly branded to showcase its “importance in driving intelligent and predictive insights” per the firm. Recent enhancements include more pipeline models to grow spend analysis success on low-quality data and standard integration throughout a broad range of data sources, among others.

In separate news, Tradeshift teamed with Chain IQ to offer procurement services innovation. The collaboration will help organizations save through price transparency on a marketplace, increase the efficiency of the procurement process and provide a simple as well as intuitive user experience to power user adoption.

The collaboration also further dovetails with Tradeshift’s main mission of providing access to capital and digital connectivity to all organizations, while also retaining the continuity of business relationships.