As the saying goes, “Mind the pence; the pounds take care of themselves.” If you’ve never worked at a British bank, let’s break down what that means. Businesses carry out hundreds – if not thousands – of seemingly inconsequential purchases throughout the year. From ordering coffee pods to grabbing a pack of pens, making small transactions without much thought is the norm for many companies. 

While finance teams often place more scrutiny on large expenditures, the countless smaller transactions made across departments can quietly accumulate into significant costs over time. Without a consistent strategy to manage these purchases – both large and small – companies tend to overspend, miss out on bulk discounts, or default to vendors that don’t always meet expectations. 

That’s where AI for sourcing comes in. With Order.co’s AI, procurement teams can easily practice predictive purchasing, reduce costs, and simplify sourcing decisions. Read on to discover how this technology can offer your business a competitive advantage.

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Reduce procurement costs with AI for sourcing

Imagine that you need to purchase K-cups, toilet paper, and trash bags for your business. You navigate to your previous orders only to find that the brands you normally buy are out of stock. For many procurement professionals, this usually means it’s time to sift through dozens of vendor websites to find a suitable replacement. But what if you could find the best price from the most reliable vendor in just a few seconds?

With AI, you can. Order.co’s AI can scan nearly 50,000 vendor websites to identify cost-saving opportunities and deliver real-time data to help inform purchase decisions. Customers who leverage this pricing intelligence save an average of 5% across categories – with savings on cleaning, maintenance, and office supplies reaching up to 10%. 

“As the AI ingests more price points, learns from more customers, and enters into more product categories, it builds on itself and the sourcing process becomes easier and easier,” shared Alec Stonitsch, VP of Product at Order.co. 

The time and cost savings that using AI for sourcing can offer shouldn’t be ignored. One analytics platform reduced supplier evaluation time by two-thirds and increased their savings by 281% by leveraging digital and AI technologies. If you haven’t harnessed AI in your procurement processes yet, you could be missing out on similar results.

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How AI powers smarter purchasing decisions

Teams are starting to turn to AI to generate purchase orders, flag contract discrepancies, or track spend patterns. For example, one commercial property developer even used AI to collect procurement data 92% faster than they could manually. While these use cases are valuable, businesses can harness AI for even more complex applications – by layering different models. 

Order.co’s AI does this by taking vendor information, location-specific purchasing needs, and SKU data into account to generate optimized sourcing recommendations. The AI operates on a global feedback loop, meaning that insights from one user’s experience can benefit the entire network. For example, if a vendor proves unreliable for one customer, the AI flags the issue across the entire user base. 

“We can understand how often customer orders that leveraged our sourcing recommendations are returned and how often they generate tickets. All of this data funnels back into our system and helps improve our AI sourcing algorithm for the future,” Alec noted. 

The future of AI-powered sourcing at Order.co

Heading into the second half of 2025, Order.co customers can look forward to gaining context-aware buying recommendations during checkout. These recommendations go beyond simply revealing the cheapest products available –  they also factor in considerations like delivery speed and vendor reliability to ensure you get the right products at the right time. 

For example, imagine you could save $2 by ordering from a different supplier, but the product would arrive a week later. In most cases, you’d likely choose reliability over cost. Order.co’s AI learns from these choices. Any time you reject an alternative product, avoid a certain vendor, or consolidate shipments to a particular location, the AI learns and refines its future suggestions.

“We're training the AI with every action users take, allowing them to effectively construct their own company-specific, location-specific, user-specific, generative intelligence — while saving money and powering a recommendation engine to help make their life easier,” highlighted Matt Garippa, Chief Business Officer and co-founder of Order.co.

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ChatP2P: How Pricing AI is Changing Sourcing: Smarter Decisions, Lower Costs

Download the recording of session two of ChatP2P: AI & the Back Office to watch on-demand and learn how you can leverage sourcing AI for increased savings.

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Drive cost savings with AI for sourcing

With AI as your co-pilot, you can shift your focus from manual, time-consuming processes to initiatives that still require a human touch. The goal of using AI for sourcing isn’t to replace procurement teams, but rather to enhance their decision-making abilities and eliminate their most tedious tasks. 

Businesses that embrace AI-driven sourcing early on will gain a competitive edge, while those that wait risk falling behind. Early adopters will:

• Have more time to train the AI on unique preferences
• Save more money as AI continues to simplify vendor selection
• Reduce the impact of global supply chain disruptions on your business

Don’t wait to see how AI can transform your procurement process. Book a demo of Order.co’s pricing AI today and take the first step towards a smarter, more efficient sourcing strategy.