0
5.0.2
Australia, Zurich, Yokohama Patch 4, Yokohama
Standalone Application
Spend and Savings Management enables organizations to strategically segment and manage procurement categories to optimize sourcing and ultimately drive hard dollar savings.
- Category Taxonomy Setup : The Spend Category Taxonomy Setup feature allows category managers to import and manage their organizational taxonomy—a hierarchical structure for sourcing goods and services. By integrating this taxonomy into the ServiceNow system, category managers can streamline procurement activities, track spending, and measure savings more effectively by categories compared to how they were doing it by Product categories before.
- Category Manager Workspace : A new tab within the Source-to-Pay workspace which enables Sourcing Managers to proactively uncover cost-saving and risk-reduction opportunities within their category by consolidating insights from Spend, Savings, Contract, and Supplier Analysis into a single workspace. This eliminates data silos, streamlines decision-making, and ensures timely action on sourcing opportunities. Identified opportunities can be seamlessly converted into sourcing pipeline projects, driving efficiency and cost optimization.
- Spend/ Savings Dashboards: Spend & Savings dashboards enable Category and Sourcing Managers to quickly and easily analyze spend, savings, contract, and supplier data by category, business unit, or department. This feature helps them identify savings opportunities, monitor compliance, optimize sourcing strategies, and streamline reporting to leadership on key category metrics, ensuring more efficient and data-driven decision-making.
- New:
- AI‑powered Savings Opportunity Discovery:
- Spend and Savings Management introduces an AI‑powered Savings Opportunity Discovery workflow that helps sourcing and category managers identify potential savings across contracts, spend, and supplier data.
- Agentic opportunity discovery:
- The Savings Opportunity Discovery workflow can be enabled through the Now Assist admin experience. Once enabled, specialized AI agents analyze organizational data and generate actionable savings opportunities.
- Savings opportunity identification: The solution identifies opportunities across key savings levers, including:
- Contract optimization: Price escalation, renewal caps, and payment terms optimization
- Spend optimization: Off‑contract spend opportunities
- Supplier optimization: Non‑preferred supplier spend, unconsolidated supplier spend, and spend fragmentation
- Discovered opportunities are automatically created and stored as structured records in the Savings Opportunities table.
- Savings Opportunities data model:
- A new Savings Opportunities (sn_spend_gen_ai_savings_opportunities) table stores AI‑generated opportunities and supports review, investigation, and action workflows.
- Opportunity review and investigation:
- You can review opportunities and select Learn More to open the Now Assist panel for detailed explanations and follow‑up questions.
- Take action on opportunities: You can do the following:
- Create pipeline projects directly from opportunities
- Capture AI‑generated summaries in project work notes
- Dismiss opportunities with an optional reason
- AI‑powered Savings Opportunity Discovery:
- Changed:
- Remediated non‑Glide Cobalt Raven ACLs in product code (DIRS0000421).
- Required plugins and products:
- Required plugin (new) : Spend and Savings Management
- Required Product: Sourcing and Procurement Operations (SPO)
- Plugin Dependencies :
- sn_shop (Source-to-Pay Common Architecture)
- sn_pr (Sourcing and Purchasing Automation)