SAP SE and Qualtrics, an SAP company, have introduced a new offering that provides entities with the power to find pivotal areas of improvement throughout the source-to-pay workflow to save more money, secure pivotal supply, bolster corporate flexibly and assuage risk, according to a Wednesday (Oct. 28) announcement.
The Qualtrics XM for Suppliers offering brings together information from an entity’s SAP S/4HANA, SAP Fieldglass and SAP Ariba platforms with in-the-moment vendor analysis and artificial intelligence (AI)-powered intelligence from Qualtrics, the announcement stated.
The technology gives supply chain, finance and purchasing workforces the power to help accelerate savings by receiving analysis and suggestions fueled by AI across the source-to-pay process to find gaps in the supply chain and influence better contract terms, according to the announcement.
“This year has taught us that agility and resilience can only be achieved if you can anticipate disruption before it happens, enhance critical supplier synergies and know when to activate alternate sources of supply,” said Jason Wolf, senior vice president and SAP Intelligent Spend and Business Network general manager, in the announcement. “That’s even easier to achieve now with Qualtrics XM for Suppliers for SAP Ariba, SAP Fieldglass and SAP S/4HANA solutions.”
Qualtrics XM for Suppliers assists entities with bolstering the source-to-pay workflows already in place by hearing, comprehending and taking action based on vendor input at each touch point, according to the announcement.
The product “puts supplier feedback at the heart of buyer-supplier interactions and becomes an integral part of decision-making and relationship building,” said Brian Stucki, Qualtrics executive vice president and CustomerXM general manager, in the announcement.
The news comes as SAP SE announced plans in July to take Qualtrics public a year and half after purchasing the Utah-based management software firm for a record $8 billion.
“SAP’s acquisition of Qualtrics has been a great success and has outperformed our expectations with 2019 cloud growth in excess of 40 percent, demonstrating very strong performance in the current setup,” SAP CEO Christian Klein in a statement at the time.