Unilever which is a fast-moving consumer good has now automated its contracting system by integrating a tool which is developed by the Moglix.
The tool which is known by the name as iCAT, short for the intelligent contracting automation tool, is a cloud-based software solution that automates and consolidates large volumes of contracts, the company said in an official statement. The Noida based company claims that iCAT will make the Unilever contracting process efficient, collaborative and accurate for its clients.
For the Unilever Limited, which has around 1500 procurement professionals, which is also as of now operating in more than 100 countries and managing around $20 Billion across the year, processing contracts such a scale was effort intensive and time-consuming. This even led to long turnaround time for the procurement team and even reduced the operational efficiency.
“After multiple attempts to solve the problem with other partners, implementation of iCAT with Moglix has been a gamechanger for us, as it has automated and streamlined our contract management process across geographies. The solution has paved the way for procurement to embark on our digital transformation journey,” said Dhaval Buch, chief procurement officer of Unilever.
iCAT provides the 360-degree visibility of contracts across the organization, opening possibilities for the deep level analytics and predictive insights for improved supplier management and decision making, according to the report.
“Contract management is the heart of procurement. It was exciting to work with Unilever and standardize and consolidate their contract management process that has saved time and effort. Large organizations like FMCG, auto, pharma, and chemical can use iCat platform to unlock great savings by consolidating their contracting process. Further, emerging technologies like machine learning and blockchain will be leveraged to draw actionable insights from the data in order to make the process transparent and compliant,” said Rahul Garg, founder, and chief executive of Moglix, in the statement.