Press release - October 10, 2023
Cirtuo Unveils Next Generation Of AI-Powered Solution For Creating Actionable Category Strategies In Procurement
Denver, Colorado – 10th October 2023 – Today, Cirtuo, the leader and pioneer in AI-powered strategic procurement technology, is releasing the next generation of its category strategy software, Guided Strategy Creation™ Pro. Engineered to empower procurement professionals to effortlessly navigate the complexities of business requirements, Cirtuo’s innovative solution facilitates both the development and implementation of bespoke category strategies.
The technology facilitates the process of creating category strategies in a standardized way across a proven process. Cirtuo’s strategy development process consists of four distinguishable steps: the Internal Analysis, the Market Analysis, Strategizing & Validation, and finally, the Implementation.
In Cirtuo Guided Strategy Creation™ Pro, category managers are guided through Cirtuo’s proven methodology in an interview-style based collection of specific business requirements and market conditions. The AI expert system then provides users with a set of actionable insights and recommendations for creating best practice category strategies that maximize the business value delivered by procurement.
Guided Strategy Creation™ Pro
“Cirtuo Guided Strategy Creation™ Pro is not just a tool or a new version; it’s a revolution in category strategy creation,” says Drasko Jelavic, Cirtuo’s CEO and Founder. “We helped category managers build solid category strategies for years, but GSC Pro is tailored to assist professionals in making holistic decisions that reflect the complexity of the business environment we operate in today while ensuring alignment with organizational goals.”
With Cirtuo’s next-generation strategy creation technology, category managers can more easily and completely incorporate both the needs and requirements of internal stakeholders and the realities and developments of the external supply market, resulting in more holistic, actionable, and value-driving strategies being created. It offers a set of AI-powered recommendations and levers that category managers can use to deliver on procurement objectives and business requirements.
- Unparalleled user guidance – Cirtuo’s unique interview-style structure ensures category managers are guided throughout the strategy creation process in a step-by-step manner, ensuring all necessary elements required of a best practice category strategy are covered. This reduces the need for users to be experts in each strategic tool and for user training. No other solution offers this level of guidance.
- Frictionless User Experience – Guided Strategy Creation™ Pro enables users to manage their spend category from strategy creation to implementation in a single, unified interface. It seamlessly guides category managers through a set of strategic tools, analyzes the data inputs, gives access to external market intelligence and insights, recommends strategic options and allows the tracking of initiatives without leaving the platform.
- Powerful recommendation engine – Using 400+ data inputs captured through the guided interview process, an AI algorithm recommends a set of strategic options and actionable initiatives for implementation that are specific to the category and business requirements.
- Real-time market intelligence – Integrations with leading market intelligence & data providers gives users access to external insights for nearly 2000 categories and over 3.5million discrete data elements.
- Actionable initiative management – GSC Pro enables the seamless creation of strategic initiatives. With easy-to-use project management capabilities, initiatives can be managed and deliverables tracked to measure and demonstrate business impact.
- Impactful reporting capabilities – GSC Pro has deep analytics and advanced data management capabilities that leverage data across the application to create impactful visualizations and reports that provide actionable insights and enable the steering of spend categories and Procurement teams.
- State-of-the-art technology backbone – GSC Pro leverages the latest technologies to create helpful capabilities. From the patented expert system and algorithm to specialized capabilities for data management and visualization or ChatGPT integrations, GSC Pro leverages technology to simplify the life of category managers.
“With enhanced UX, deeper integration with Market Intelligence, improved reporting and storytelling capabilities, and greater responsiveness for change requests, the next generation Cirtuo Guided Strategy Creation™ Pro is more powerful and more efficient than ever,” said Luka Fresl, Cirtuo’s Chief Product Officer. “Learning from more than 70 customers across the world that use the product every day really helped us focus on the elements people need most to manage their spend categories.”
The Guided Strategy Creation™ Pro is the result of over 10,000 research hours, 5 years of product development and maturity, and the expertise of a team dedicated to innovation and excellence. The solution redefines strategic procurement technology by making strategy creation faster and easier. It enhances the ability to gather requirements and make holistic decisions that drive top and bottom-line business value. This is echoed by the positive sentiment and confidence expressed by more than 70 clients and over 5,000 CPOs and category managers globally.
Guided Strategy Creation Pro Benefits Include:
- Faster, easier strategy creation process
- Greater business alignment
- Improved savings opportunity identification
- Deeper integration of category and supplier management strategies
- End-to-end initiative tracking and management
Fostering better engagement with stakeholders in order to gain deeper insight into business requirements is at the core of Cirtuo’s category strategy creation technology. The structured process combined with intelligent tools enables category managers to address business requirements more adequately and translate market realities into impactful category strategies. Jelavic explains: “The clear structure and guided interview-style approach to capturing relevant information in GSC Pro support the category strategy process end-to-end. It enables more discipline, better governance and increased efficiency to develop, validate and execute a category strategy.” By guiding category managers from demand analysis to strategy creation, Cirtuo enables informed decision-making that helps mitigate risks, increase efficiency, and unlock hidden savings.
Cirtuo is the pioneer in digital category management and strategy creation. Based on the original consulting blueprint for category management and refined in countless client workshops, Cirtuo distills the insights from hundreds of category strategies across global and local procurement organizations and spend categories into one digital consultant: Cirtuo Guided Strategy Creation™ Pro.
Cirtuo supports over 5.000 category managers of leading national and multinational companies like Walmart, Novartis, Molson Coors, or British Telecom across 40+ countries in creating business-centric and actionable category strategies that deliver unparalleled impact and value.
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