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BusinessWire India
Gurugram (Haryana) [India], April 7: Procol, an AI-based procurement platform that automates processes and optimizes spending, announced the launch of its next-generation AI Agents - a powerful suite of intelligent, autonomous tools designed to automate and optimize the procurement lifecycle from end to end. This marks a bold leap forward in enterprise software, setting a new standard for how businesses source, manage suppliers, and control spend. By addressing long-standing inefficiencies in procurement workflows, this launch positions Procol not only to drive measurable impact for customers but also to solidify its leadership in the enterprise procurement space and accelerate its own growth trajectory. Procol's AI-first platform has already demonstrated measurable success: 93% of clients have reported positive ROI within just six months, with noticeable cost savings in as little as 60 days. Building on this proven foundation, the newly launched AI Agents represent the next leap forward, offering autonomous capabilities purpose-built to meet the growing demand for intelligent, real-time procurement. With these AI Agents: Sourcing Agent, Supplier Agent, Spend Agent, and Orchestration Agent: Procol empowers procurement teams to shift from reactive operations to proactive, insight-driven strategies. Each AI Agent acts as a digital employee that performs tasks, adapts intelligently to environments, and collaborates with other agents and humans alike. This transformation comes at a pivotal moment. According to the 2023 IBM Institute for Business Value and Deloitte Global CPO Survey, over 90% of Chief Procurement Officers are either actively experimenting with or planning to invest in AI to automate sourcing, manage supplier risk, and generate real-time spend intelligence. As procurement complexity intensifies, AI is no longer optional--it's fast becoming mission-critical. According to a 2024 McKinsey report, procurement teams that have adopted AI-driven solutions have seen up to 70% reduction in manual effort, 30-40% improvement in sourcing speed, and up to 15% savings in direct procurement costs. The report also notes that over 60% of procurement leaders cite lack of automation as a key barrier to strategic decision-making, reinforcing the urgent need for AI to handle routine, high-volume tasks. Talking about the launch, Gaurav Baheti, Co-founder & CEO of Procol said, "Procurement has long been stuck in a cycle of manual processes, reactive decisions, and fragmented tools. With the launch of our AI Agents, we're reimagining procurement from the ground up. These agents aren't just features, they're digital coworkers that automate the grunt work, analyze data in real-time, and guide teams toward smarter, faster, and more strategic outcomes. Our goal is to help enterprises move away from firefighting and toward foresight--to give procurement teams the superpowers they've never had before." Key highlights of the AI Agents include: * Sourcing Agent: Cuts sourcing cycle time by 60%, boosts savings per contract by 12%, and improves response rates by 40% through intelligent RFx creation and real-time bid analysis. * Supplier Agent: Enables 360 supplier monitoring, AI-powered risk mitigation, and ESG tracking, reducing supply chain disruptions by up to 60%. * Spend Agent: Offers predictive analytics, 99.5% spend classification accuracy, and delivers tailored insights, unlocking average cost savings of 14%. * Orchestration Agent: Harmonizes data from over 50 sources, enabling end-to-end process visibility and seamless integration with ERPs and ticketing systems. Backed by marquee investors including Blume Ventures, Sequoia Capital, and Zomato's Deepinder Goyal, Procol's mission is clear: to create the most trusted, AI-first business network for procurement. As enterprises look to build smarter, faster, and more resilient operations, Procol's AI Agents are not just a product--they are a bold step toward the future of intelligent procurement. (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
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