Rivio AI AI-Native Procurement Platform for Contract Renewal and Vendor Management

What is Rivio AI?

Rivio AI introduces an AI-native procurement platform designed to streamline and optimize procurement operations. It employs specialized AI agents that gather and structure procurement data from diverse sources, including various systems, documents, and emails, consolidating it into a single, searchable repository. This centralization empowers procurement teams and the AI agents themselves to make more informed and strategic decisions.

The platform focuses on automating key procurement workflows. Rivio AI agents manage contract renewals by initiating the process, comparing contract versions to identify changes, and collecting necessary vendor documentation to secure favorable terms, leveraging best practices and historical data. It also automates vendor onboarding through qualification checks, risk assessments, and enriching vendor profiles with critical insights. Furthermore, Rivio AI guides employee purchasing, enforces compliance policies, monitors budgets, prevents duplicate vendor usage, and provides real-time spend visibility by reconciling contracts, purchase orders, and invoices.

Features

AI Agent Automation: Collects and organizes procurement data across systems, documents, and emails.
Contract Renewal Management: Initiates renewals, identifies version changes, gathers vendor documentation, and leverages negotiation history.
Automated Vendor Onboarding: Manages vendor qualification, risk assessment, and profile enrichment.
Guided Purchase Intake: Enforces policies, monitors budgets, prevents duplicate vendors via chat.
Spend Control & Visibility: Provides unified spend view, real-time budget comparison, and document reconciliation.
Enterprise-Ready Security: SOC-2 Certified with secure AI practices and agent activity logs.

Use Cases

Automating the contract renewal lifecycle.
Streamlining and securing the vendor onboarding process.
Guiding employees towards compliant purchasing.
Achieving real-time visibility and control over organizational spend.
Centralizing disparate procurement data for improved decision-making.
Augmenting procurement teams with AI-driven automation.

FAQs

Is Rivio AI secure for enterprise use?

Yes, Rivio AI is SOC-2 certified, ensuring high security standards. It guarantees that customer data is never used for training AI models and provides comprehensive activity logs for all agent and user actions.
How does Rivio AI handle procurement requests from employees?

Employees can interact with Rivio AI via chat to place and track their procurement requests. This streamlines the process, enforces company policies, monitors budgets, and helps prevent duplicate vendor engagements without needing traditional intake forms.
Can Rivio AI assist with assessing vendor risk?

Yes, Rivio AI automates vendor qualification by collecting necessary documents and performing comprehensive risk assessments. It also enriches vendor profiles with details like financial health, security documentation, and competitor insights.