Creactives Group SpA: Röchling Group becomes a customer of Creactives

[ Report ]

Verona (pta007/23.11.2021/09:18) - Verona, November 23, 2021. Creactives Group S.p.A. ("Creactives Group") (ISIN IT0005408593 - ticker: CREG), an international company that develops Artificial Intelligence technologies to address real-life business problems in the Supply Chain, announces that Röchling Group (Röchling) became a new customer of Creactives S.p.A., the fully owned operating company, and decided to adopt TSV8, the new generation of Spending Data Management tool for cleansing, enriching, deduplicating and governing spend data (Purchase Orders, Invoices, Frame contracts).

Röchling Group has been shaping industry, worldwide and for nearly 200 years. Röchling transforms the lives of people every day with their customized plastics: it reduces the weight of cars, makes medication packaging more secure and improves industrial applications. Their workforce of around 11.100 people is located in the places where their customers are - in 90 locations in 25 countries. The Group's three divisions generated joint annual sales of 2,039 billion euros in 2020.

Creactives' product Total Spend Visibility (TSV) enables complex firms to analyze their consumption model automatically using a powerful spend analysis tool.
Globalization, delocalization of production, and mergers and acquisitions all create complexity that traditional IT systems are unable to effectively support. The purchasing problems faced are many and varied:
- direct materials that do not have a unified master data coding system,
- a sizable proportion of indirect materials are un-coded,
- a non-homogeneous system of classification with few categories and little detail, or
- a very detailed system full of items attributed to the wrong category.

These conditions make it difficult to answer standard questions regarding one's consumption habits: what, how many, from whom, at what price, and under what conditions is the company making its purchases? TSV uses all available information, including information that the ERP and data warehouse contain but do not use. TSV uses order descriptions, supplier names, master data, units of measurement, and anything else available to generate and maintain a 'by nature' spending analysis of consumption habits.

TSV offers powerful tools to browse the company's consumption model and easily identify aggregated goods purchased, their similarities, purchase price, type of supplier, common brands, and more. Procurement can finally identify savings linked to economies of scale, rationalize the supplier base, and launch initiatives that can be quantitatively monitored and measured.
More info about TSV is available at the following link: https://creactives.com/products/spend-analysis/

(Ende)