Kyndryl : How technology is revolutionizing the procurement business

What are the key drivers for Chain IQ's modernization and simplification in the indirect procurement space?

Brecheis: Chain IQ is determined to take indirect procurement to the next level, concretely, to provide value beyond cost reduction. Today we are offering our clients a fully digitally-supported end-to-end procurement managed service value chain, increasing efficiency, assuring compliance with the latest environmental, social and governance (ESG) regulations and rules, leveraging AI in creating spend cube transparency, and defining category strategies or offering chatbots helping to guide clients through buying channels. We guarantee up to 40% accumulated savings of customers' annual indirect spend over five years.

However, Chain IQ's impact is not just about significant profit and loss (P&L) effects, as we aim to generate value far beyond cost reduction, transforming indirect procurement toward a world-class, resilient and digitalized end-to-end function. To offer this competitive advantage and be an industry frontrunner going forward, we continue to invest significantly in our future.

Our strategic ambition is to build a market-leading procurement platform that seamlessly connects clients and suppliers by leveraging vertical AI, based on domain-specific datasets and a procurement-based large language model (LLM). The system will be capable of processing multimodal information, generating optimized decisions in the context of cost, quality, resilience and ESG targets.