Cool Vendor reports include vendors that are interesting, new, and innovative.
LAUSANNE – May 15, 2019 – Datapred, an innovator in direct material procurement software, today announced that it has been named a 2019 “Cool Vendor" in Sourcing & Procurement Applications by Gartner, Inc.
In the report, Gartner analysts Kaitlynn Sommers, Magnus Bergfors, Patrick Connaughton and Micky Keck note that “with many organizations prioritizing technology investment and undergoing a digital transformation, they have access to all types of data, and more data than ever before”. However, “analyzing and using it holistically can be a manual and daunting task without the right tools to deliver line-of-business-specific, actionable insights”. They recommend that "application leaders responsible for sourcing and procurement develop a procurement roadmap that includes investing in emerging technologies to close gaps, by evaluating these Cool Vendors and their ability to increase efficiency, transparency or savings."
"We are thrilled by our inclusion as a Cool Vendor,” said Nicolas Mahler, Director of Datapred. “Although direct materials represent the bulk of direct costs for most corporations, the corresponding buying processes remain surprisingly static and subjective. We believe that the proliferation of relevant data and advances in machine learning for continuous intelligence provide a great opportunity for optimizing these processes.”
Since the release of its machine learning software for direct material procurement, Datapred has worked on a diverse array of commodities, energies, and raw materials – including steel, natural gas, cocoa beans, electricity, aluminum and palm oil.
Datapred developments in the next few months will include new optimization capabilities for its proprietary modeling engine, as well as commercial expansion to new European and Asian countries.
Gartner subscribers may access the report here.
Gartner, Cool Vendors in Sourcing & Procurement Applications - K. Sommers, M. Bergfors, P. Connaughton, M. Keck - 15 May 2019.
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Founded in 2015 and based in Lausanne, Switzerland, Datapred uses machine learning to generate an optimal purchasing program shaving 3-5% off its clients’ direct material costs, year over year. Datapred also provides the corresponding financial risk management tools.
For additional information on Datapred, please visit
https://www.datapred.com/contact