Procurement Knowledge Retrieval

A leading global energy company’s procurement team faced significant hurdles in accessing essential data. This data, scattered across various sources and formats, was managed by different SharePoint owners, making it difficult to retrieve and utilize efficiently.  

The team sought a solution to streamline their supplier onboarding processes, facilitate training for new employees, and effectively track supplier performance.  

Additionally, they needed a reliable website crawler to consolidate procurement policies from diverse web sources, ensuring that their practices remained current and compliant. 

To tackle these challenges, Fractal deployed its Knowledge Assist solution. This solution automated the ingestion and analysis of market trends and competitive articles, leveraging topic modeling and tagging for efficient categorization.  

A Q&A chat interface was introduced, providing streamlined retrieval of contextual information with domain-specific query comprehension and multi-lingual support. This interface also featured auto-summarization of articles and highlighted relevant excerpts, ensuring quick access to critical information. Continuous user feedback was incorporated for ongoing enhancements, and rigorous checks were implemented to minimize errors.  

The solution, built using Azure OpenAI generative AI LLMs, facilitated persona-based classifications and authorizations, aligning perfectly with the company’s needs. 

The implementation of Knowledge Assist led to remarkable outcomes. The company achieved a 93% accuracy rate in query responses, coupled with a 30% improvement in query accuracy overall. This efficiency translated into reduced handling times and projected annual cost savings of $600K.  

Additionally, staff performance saw significant improvements, and there was a noticeable increase in user queries and adoption rates across the European and North American regions. The Knowledge Assist solution not only streamlined procurement processes but also drove substantial cost savings and performance enhancements.