Red Flags | Decision Intelligence

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Turn-key solution for enterprise procurement transformation

Save your procurement budget with AI and advanced analytics via:

Price forecast and analysis
Savings opportunity pipeline
Risks analysis

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Recognized by

Solution

Price prediction

Red Flag:

Inflation and currency volatility
Affect base price of procurement contract, which leads to tender delays, fines and reputation risks

Outcome:

More accurate budget and procurement planning
Red Flag:

Lack of economic savings identification
Get email notifications on tenders and contracts that can be optimized for savings

Outcome:

Economic savings pipeline, better tendering process

Features of price prediction

Flexible price change scenarios
Transparency and accuracy of budget planning
Analysis by product categories to reveal the factors of price growth

This ensures budget savings, minimizes the risk of fines, and increases the percentage of “closed” tenders without price revision

Procurement price analytics

Red Flag:

Overpricing of the goods
Identify which goods were procured for a higher price to avoid artificial budget inflation

Outcome:

Economic savings (up to 15% of entire budget)
Red Flag:

Outdated supplier register
AI automatization of commercial requests gathering and other business processes within your procurement department

Outcome:

Budgeting time optimization (up to 60% manual labour automation)

Features of price analytics

Automation of collection of commercial proposals from suppliers, formation of a register of active suppliers for different goods
Most accurate price estimation using both historical data, open data and proposal parsing
Budget optimization by comparing prices with the real market

This ensures budget savings, minimizes the risks of price dumping or artificial price inflation.

Procurement risk analytics

Red flag identification

The solution employs advanced algorithms and AI techniques to automatically identify red flags in procurement processes. These red flags could indicate potential fraud, corruption, or inefficiencies in the process. Examples of red flags include overpricing, single-source contracts, unusual bid patterns, conflicts of interest, unusually high or low bids, change orders or contract amendments
Risk scoring and prioritization

The system calculates risk scores for each procurement based on the identified red flags, taking into account factors such as the value of the contract, the complexity of the procurement, and the potential impact of the risk. This risk scoring enables the prioritization of procurements for further investigation or audit

Our Customers' Outcomes

Savings Opportunities

Last year, redflags.ai identified
200K+ savings opportunities worth over

$405 Million

reported by our customers

Realized Savings

Maximum amount of savings, reported by our customers

$100 Million

by utilizing redflags.ai

Why use redflags.ai?

You can't manage what you can't measure

-1-

Data Doesn't Automatically Create Value

Simply having data and analytics doesn't automatically create value for an organization.

You might invest a significant amount of time and money in data engineering, reporting, and data visualization, but if no decisions are made and no actions are taken, then it would all be a waste of resources.
-2-

People Create Value
Using Data

The real value comes from employees making decisions and taking action.

A company's most valuable resource is its managers' attention.

You need to focus business users' attention on the most promising savings opportunities with the highest possible financial impact
-3-

Ensure People Make Decisions and Take Actions

Automate savings insights generation using various corporate data sources

A management framework is essential for creating hypotheses about using data to spot and realize savings opportunities.

And implement it in a workflow tool to track your progress and outcomes.

How It Works?

Connect Any Data Source

The system can aggregate data from various internal and external data sources such as CRM, ERP, DWH, API, Excel, Open Data, and others to gather information about Customers, Suppliers, Tenders, Contracts, Purchase Orders, Invoices, Payments, etc.

Create Hypotesises

Define business rules to effectively manage and scale the generation of savings ideas (hypotheses).

Use our database of savings ideas for inspiration.

Automatically detects savings opportunities

Automatically examine all records and transactions to detect savings opportunities based on red-flag business rules created by users.

Implement workflows
to ensure no opportunity is missed

The system supports custom workflows for managing savings opportunities:

assign a responsible business user for each opportunity
track decisions they made
trigger actions in external systems
track the outcomes

Report realized savings

Customizable dashboards to track:

How many ideas have we created about how to use data to realize savings?
How many savings opportunities were identified based on these ideas?
Which ideas showed the best performance?
What is the amount of realized savings?

Empower AI to save time reading documents

In the age of Generative AI, the system allows the use of state-of-the-art LLM models to extract data from unstructured information (text fields, PDF files, etc.) and help users with complex reasoning scenarios.

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Case Studies

redflags.ai saved 10% of JSC Kazakhtelecom's procurement budget

Kazakhtelecom JSC - largest TeleCom corporation in Central Asia.

Using AI, we developed an application that “reads” suppliers’ CPs and extracts the necessary product attributes from the purchase order. We then matched contract items and product attributes with purchase orders, optimizing the organization’s budget.

redflags.ai identifies savings opportunities worth $50 million at Samruk Kazyna-Contract

Samruk Kazyna Contract - contracting and procurement entity of the $75 Billion enterprise.

The fund's procurement data have been processed and analyzed. We have also developed analytical application for procurement savings monitoring, evaluating the effectiveness of procurement and the compliance process.

Kazakhstan's Financial Monitoring Agency Uses Redflags.ai to Fight Economic Crimes

Using the redflags solution, the Financial Monitoring Agency identified 29 theft schemes, the damage from which exceeded $1 million, and initiated 53 investigations.

Watch

Using Big Data for Detecting Economic and Corruption Crimes by Vitaliy Trenkenshu

Join Vitaliy Trenkenshu, Chief Executive Officer of redflags.ai and Enterprise Big Data Framework Alliance Ambassador, as he delves into the challenges and innovations in detecting economic and corruption crimes using big data.

How Active Intelligence approach helps to save taxpayers’ money

Governmental auditors of Kazakhstan are equipped with a powerful award-winning tool that boosts their efficiency and helps them prevent losses in procuring entities from purchasing overpriced products, saving taxpayers money. As a result, over US$ 86 million of taxpayer's money has been saved in 2021

OCP Red flags global webinar

Open Contracting Partnership red flags global webinar worked through the methodology and how to use the indicators to detect suspicious behaviour. Joining up theory with practice, you get to hear from our partners who are successfully using these methodologies in the field. We hope to provide actionable and approachable steps that practitioners from across the globe, from researchers to procurement agencies to fellow data dorks, can take to begin analyzing their procurement data through the lens of integrity

Recognition