Case Study: Abbott Laboratories achieves 35% supplier compression and 99.5% spend classification with ElectrifAi

Abbott Laboratories achieves 99.5% spend classification with ElectrifAi

The customer, Abbott Laboratories, a leading pharmaceuticals provider, faced a significant challenge in gaining visibility into its company-wide spend. With data spread across over 50 sources and inconsistencies in supplier naming, manually consolidating this information was labor-intensive. Abbott partnered with ElectrifAi and its RevCaptureAi product to address this and analyze purchasing leverage.

ElectrifAi implemented a solution that included data validation, cleansing, and vendor clustering across all data sources. This resulted in a 35% supplier compression rate and 99.5% of spend being classified, providing Abbott with vastly improved spend visibility. The project identified additional annual revenue of over $40 million and provided the company with higher negotiating leverage.

Abbott Laboratories