LTIMindtree’s shares started rising early Tuesday after the global technology consulting and digital solutions company launched Navisource.AI, an AI-powered autonomous sourcing platform.
This new platform, leveraging AI for pricing and negotiation, aims to cut procurement costs by 10-15%.
What Happened? Navisource.AI transforms procurement by using AI to streamline everything from requisition to risk management. It integrates with LLM and Model Catalogs through Canvas.AI, improving enterprise workflows. The platform is compatible with Ariba and SAP S/4HANA, offering comprehensive support for navigation and decision-making.
Vineet Moroney, senior vice president and global head of enterprise apps at LTIMindtree explained in a press release that GenAI is key to their strategy, transforming functions, introducing new work methods, and automating intelligently.
He emphasised that Navisource.AI will simplify indirect procurement, enhance predictability and free up time spent on manual tasks, allowing procurement teams to focus more on strategic initiatives.
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Navisource.AI helps procurement teams conduct market research and provides pricing intelligence and recommendations, focusing on cost efficiency.
Its GenAI-powered analysis engine understands requirements and devises optimal sourcing strategies, reducing manual intervention and improving collaboration among suppliers, procurement functions and requestors.
Price Action: LTIMindtree Ltd. shares were up 1.32% at ₹5,586.70 on Tuesday, shortly after trading began for the day.
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