Smart-Match Recommendations Align Buyer Needs with Supplier Capabilities; Autonomous Execution of Repetitive Tasks Headline Strategy
RESEARCH TRIANGLE, N.C.–(BUSINESS WIRE)–JAGGAER unveils its vision for 2022 and beyond with Autonomous Commerce, a self-governing B2B commerce experience between buyers, suppliers, things (IoT) and partners.
“Supply chain disruptions, materials scarcity and the global talent shortage are forcing business leaders to rethink our traditional enterprise commerce model,” said Jim Bureau, CEO of JAGGAER. “Enterprise buyers need more dependable sources of supply, greater selection and lower prices. Enterprise suppliers need a continuous stream of smart-match recommendations aligning their capabilities with specific buyer needs in order to grow their revenues and expand their businesses. The Autonomous Commerce revolution, akin to the consumer commerce revolution that came before it, is delivering these benefits to both enterprise buyers and suppliers.”
Over the past twenty years, consumer commerce has evolved from a brick-and-mortar retail experience, characterized by limited selection and inconvenience, to a fully realized e-commerce experience, characterized by greater selection, lower prices and elevated service levels. This transformation, known as the consumer commerce revolution, was borne of online marketplaces, world class business processes and intelligent automation.
Applying these same principles to enterprise business, JAGGAER is leading the Autonomous Commerce revolution.
“It’s as simple as shopping online at home, which is what we want,” said Stephen Mole, of Balfour Beatty, an $11 billion multinational infrastructure enterprise, and JAGGAER customer.
With over five million global suppliers on its Enterprise Commerce Network, JAGGAER is providing enterprise buyers access to myriad sources of supply that are tightly aligned with their specific needs. JAGGAER’s Digital Mind solution uses AI and machine learning to deliver these smart-match recommendations, which are not only a boon for enterprise buyers looking to reduce supplier risk, but also for suppliers looking to grow their revenues. Over $500 billion worth of goods flowed through JAGGAER’s Enterprise Commerce Network in 2021.
JAGGAER’s Digital Mind solution also autonomously executes many of the repetitive, behind-the-scenes tasks required to facilitate enterprise commerce, mitigating the talent shortage by freeing employees to focus on more strategic, high-value activities.
“For decades, procurement teams have been asked to do more with less. But in the pandemic era, the ‘asks’ have increased further, even as private and public sector organizations confront hiring and retention challenges at all levels of the org chart,” said Jason Busch, CEO of Spend Matters. “The types of investment that JAGGAER is making in AI and machine learning through Digital Mind and its Autonomous Commerce initiatives bring the promise of helping procurement teams to become more efficient while also identifying and executing on new opportunities to drive savings, cost avoidance and spend impact.”
“Three years ago, we laid out a vision for what an Autonomous Commerce world would look like for enterprises,” explained JAGGAER Chief Product Officer, Dawn Andre. “Autonomous Commerce calls for solutions that are Networked, Intelligent, Comprehensive and Extensible. We’ve been deploying solutions that embody these principles ever since. Now that we’re well on our way to delivering on the promise of Autonomous Commerce, we decided to unveil our strategy publicly. We’re excited to be leading the Autonomous Commerce revolution and putting our customers in a position to thrive during this transformational shift.”
About JAGGAER: Autonomous Commerce
JAGGAER is leading the Autonomous Commerce revolution, a self-governing B2B commerce experience between buyers, suppliers, things (IoT) and partners. Over $500 billion worth of goods flow frictionlessly through our Enterprise Commerce Network every year. Leveraging AI and machine learning, our intelligent procurement solutions provide enterprise buyers and suppliers smart-match recommendations that align buyer needs with supplier capabilities. Our solutions autonomously execute many of the repetitive, behind-the-scenes tasks required to facilitate enterprise commerce. We are Networked, Intelligent, Comprehensive and Extensible. We are over 1,100 employees strong, all focused on customer success.
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