Last week VendorMach had a busy couple of days exhibiting at CogX 2017. An AI forum drawing audiences from startups and corporates, it was a good mix of people, a vibrant atmosphere, and some of the best brands in tech. We had a number of stimulating conversations and continue to learn that supplier risk management is a pain point across industries.
Automation in online and offline retail
Retailers find themselves operating ever more complex supply chains. One online fashion retailer in particular prides themselves on top customer service and efficient delivery and return handling. This involves flawless management of thousands of suppliers, tens of thousands of miles away from their main customer bases in Western Europe. Automating supplier management processes and freeing up resources to focus on downstream, client-driven value adding activities is a win win.
Supply chain analytics (data) for investment managers?
Investment managers are increasingly looking at supply chain analytics data on listed companies to get a strong perspective on various industries. Earlier in the year, a leading New York based fund inquired. Now a London one. Just to clarify, we do not sell data to external parties and treat data privacy of our corporate clients very seriously, securely stored and encrypted on Amazon cloud web servers. The moral of this story is that because we work with so many clients in several sectors, when we integrate with their ERP, our analytics software instantly provides third and fourth party pricing and other network benchmarks to provide cost containment, reduce error and improve efficiencies. It’s available to clients in procurement, financial control or compliance.
Automation and human resources
Lord Young, offered heart-felt reassurance and optimism for an AI-powered future – ‘AI will only get rid of “menial” jobs, just like other disruptive technology has done in the past, resulting in increased affluence and more satisfying lifestyles’.
In addition to cost savings derived from reacting to pricing benchmarks, VendorMach can cut overhead cost by at least 20% in the manual processes of third-party risk management – so that our clients can divert resources to creative, client-focused, high-value activities. Want to learn more? Just send us a message and we’ll schedule a demo. Or just send me a message at Ivan at vendormach dot com