AI for Sourcing + Procurement
The government acquisition lifecycle can be slow and expensive, but AI for Sourcing and Procurement streamlines the process.
The data-driven, automated solution helps teams more efficiently identify and qualify relevant matches for goods and services, helping government agencies solve acquisition challenges faster.
Our AI for Sourcing and Procurement solution uses neural networks and natural language processing (NLP) to improve access and analysis of various sets of labor and wage data.
User Interface of the AI-powered Prototype
Streamlining the Acquisition Lifecycle
We estimate that our AI-powered models can result in a fourfold increase in efficiency and annual savings of $52,000 per employee. That’s $26 million saved in 5 years for every 100 employees who adopt AI for Sourcing and Procurement.
— metrics estimated by RS21 analysts
Simplifying Government Procurement with Artificial Intelligence
Our AI for Sourcing and Procurement modernizes the collection, analysis, availability, and visualization of labor and wage data to support better decision-making and lower costs in government contracting.
The tool’s semantic search engine generates results by understanding contextual meaning and the searcher’s intent. Filtering out irrelevant results from large databases enables contracting officers to quickly find and qualify matches, allowing teams to focus on more critical thinking and creative tasks.
RS21 first created the AI-powered prototype in partnership with Google for an IRS Data Mashing contract. The solution is scalable, secure, cost effective, transparent, and relevant for any procurement division.
To read more about how AI for Sourcing and Procurement could streamline your processes, read our blog post, Making Government Procurement Simple - AI for Contracting.