Leading Spanish high-speed operator iryo has announced that it will complete the digital transformation of its procurement department by the end of the year.
The company has committed to carrying out 100% of its sourcing operations and negotiations with suppliers via an e-platform. Since the start of its digitalisation project in November 2022, tenders and purchases launched on this platform have already grown by over 50%.
This represents the first phase of iryo’s two-year plan to evolve its procurement processes and supplier negotiations. With a new supplier module which offers a comprehensive view of data and performance, iryo has already helped to improve compliance standards across the value chain in terms of transparency, human rights and the environment.
Following the second phase of the plan, iryo will have the capacity to perform all of its operations online.
Ares Puivecino, CPO of iryo, said: "In this second phase, we are working on the full digitalisation of processes, the integration of new technologies and the personalisation of purchases."
"We are convinced that Artificial Intelligence will allow us to get to know each user in an easier and more accurate way."
iryo has already seen return on investment of management time exceeding 150%, while back-door purchases have decreased by 95%.
Other benefits of digitalisation include reduced administrative times and costs, optimised procurement experience and an increase in contract investment. iryo is also rolling out AI technology to ensure regulatory compliance in contracts and procurement policies.
Ares continued: “Technology has to be at the service of people and not the other way around. This is why we continue to try and provide the highest value to the procurement team, inspiring the whole process. Their experience, commitment and intuition are key to decision-making.”
Image credit: iryo
