Bhojwani said that Oro’s software helped one global pharmaceutical company with roughly $20 billion in procurement spending bring the time it takes to onboard a new supplier from more than 30 days to under 10 days, and that the company thinks it can reduce this further to less than five days. At the same company, manual compliance checks on purchase orders that previously took 36 hours now take six minutes, with 50% of transactions running completely without human intervention, he said. He said the company has compared the accuracy of Oro’s automated decisions to those made by its purchasing department employees and that the AI system’s accuracy has reached 90%. He said this inevitably meant that “the number of people who are doing this work can be reduced dramatically.”
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