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Founded in 2017 after working with Global 5000 IT organizations for 30 years and seeing first hand the challenges leadership spanning IT, Finance, Procurement and the Lines of business have with understanding their Vendor & Category TruSpend® and how the maturation of AI & Machine Learning are purpose built to solve it.
CXO Nexus is an Intelligent SaaS platform being used by the likes of Nasdaq, Morgan Stanley, Paramount, and Cigna for real time visibility and optimization of their IT Vendor Spend. The use of a patented AI and Machine Learning model automates the cleansing, classification and categorization of vendor spend. CIO InCight™ is an out of the box solution that requires no FTEs, works with all in place financial systems (most clients have 5+) and is operational in two weeks. Leadership spanning the nexus of IT, Finance and Procurement collaborate with intuitive, real-time access to spend. Negotiating leverage and consolidation are two of the quick outcomes as Vendor TruSpend™ comprised of: OEM parentage, unmasking what is purchased through resellers, rogue/business led spend and redundant purchasing is intuitively visualized to action on.
At our physical booth in the SAMS Europe Expo, please find us at booth #2. Stop by for a demo of our CIO InCight Platform. When you demo you will be entered into a drawing for a new iPad at the end of the show!
Tech Take Session
Optimizing Vendor Spend via AI & Machine Learning :
Tuesday, October 04
04:00 PM - 04:15 PM
Live in Berlin
Learn how enterprises like Nasdaq, Paramount and Morgan Stanley are leveraging advanced technologies to automate (no FTEs required) the cleansing, classification, and categorization of IT Vendor Spend. Outcomes include; expense reduction, vendor & supplier consolidation, cross business collaboration and peer benchmarking.
IT is often the largest component of SG&A. Vendor Spend makes up more than 50% of the annual IT budget yet visibility and transparency into that spend is not delivered by in place financial systems forcing organizations to resort to manual, point in time processes that do not scale. The session will highlight how automation delivers real time spend data and the optimization plays that affords.
CIO InCight™ is an automated SaaS solution that delivers your:
- Vendor TruSpend™ composed of; Direct & Indirect purchasing and Parentage for all OEMs, Software Publishers and Service Providers
- Vendor Spend Categorized to an industry standard Taxonomy – purpose built to identify redundant vendors and for Peer Benchmarking.
- Spend associated to Cost Centers, Lines of Business and Operating Companies – an agnostic overlay that works with all in place financial systems makes InCight the default source for all Vendor Spend.
- Rogue & Business led Spend
Companies are running in 2 weeks and monthly refreshes average 5 days.
