University Transforms Procurement with AI

Summary:

An AI solution streamlined procurement operations, improved vendor relationships, and enhanced university compliance.

Client: 

The University of Virginia (UVA), founded in 1819, is a leading public research university known for its commitment to academic excellence. 

Problem Statement: 

With over 16,000 undergraduate and 7,000 graduate students, UVA manages a complex operational infrastructure that includes procurement processes for various departments, research labs, and administrative units. The procurement team faced challenges related to inefficiencies, decentralized operations, and compliance with procurement policies and regulations.

In search of a solution to streamline their procurement operations, improve vendor relationships, and enhance compliance, UVA adopted JAGGAER, a provider of AI-driven procurement software solutions.

Results: 

• Reduced invoice cycle time.
• Substantial savings.
• Stronger contract compliance.

AI Solution Overview:

To tackle procurement challenges, UVA implemented three key components of the JAGGAER eProcurement solution suite. 

One of these was JAGGAER’s Invoicing module, which allowed the use of purchase orders (POs) with detailed line-item information, resulting in more comprehensive invoice data. By automating invoice receipt processes, UVA avoided the need to hire three additional full-time employees (FTEs) for manual data entry.

The benefits of the Invoicing module were amplified by JAGGAER eProcurement, an online private marketplace that integrates electronic catalogs of contracted goods and services, enabling straightforward web-based purchasing.

JAGGAER aligned all organizational purchases under one unified system. Now, every purchase order is created within JAGGAER, and invoices are matched against valid POs that have undergone proper approvals throughout the system.

JAGGAER integrates seamlessly with UVA’s Oracle ERP system to ensure invoices are error-free before being finalized in Oracle. This pre-verification process involves matching invoices with PO line items and managing item substitutions to prevent errors in the Oracle system.

By cleansing data and resolving exceptions within JAGGAER before transferring to Oracle, the university has minimized processing issues, resulting in significant cost savings and reduced time and effort for FTEs.

References: 

1. University of Virginia Transforms Procurement with JAGGAER. https://www.jaggaer.com/success-stories/university-of-virginia-eprocurement-customer-story

Industry: Education Services

Vendor: JAGGAER

Client: The University of Virginia (UVA)