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Risk Analytics for Renewal of Purchase Orders (309985)

Keywords: Risk Analytics, Data Analytics, Recommender systems, Online analytics processing engines

Cloud service providers sell highly valued services to numerous enterprise clients every year. Such services are often agreed and fulfilled through contracts and purchase orders (PO). A PO is an official document that buyers send to sellers to document the sale of products and services to be delivered at a late date. A PO typically involves composite services such as SaaS (Software as a Service), ESW (Entitled Software Systems), Cloud Services, and IT applications management. Invoices are created and billed with respect to a PO. The demand driven usage of services can lead to challenges in forecasting their usage in the future. If the usage of services crosses a threshold, it can lead to disputes with the customers. In large enterprise with large number of PO's, managing the billing against the PO becomes large undertaking along with increased cost. There is a need for a risk analytics solution that can proactively identify potential dispute in timely manner and provide guided service to the workers managing such PO. To address this challenge, we developed a risk analytics model along with a recommendation engine, enhanced with Human-in-the-Loop (HitL) to rank POs for renewal. We demonstrate the efficacy of our method by showing implementation of the application. The results from our deployed application are encouraging.