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In New York, Supply Chain Management

How SpecRight Digitizes Product, Packaging Specs for Greater Efficiency

Most product specifications — for the products themselves, their packaging, and other details — are managed in spreadsheets or legacy systems.

This results in data consistency and integrity challenges, access issues, and major efficiency problems. Without easy access to product and packaging data, employees aren’t able to make the quick, accurate decisions that are needed to remain competitive in the Acceleration Economy.

Those are the big issues that Specright took on with the launch of its company in 2015. “From automotive, to aerospace and food packaging, I saw that industries were struggling with inefficiencies that stemmed from a lack of packaging and product data,” says Specright CEO Matthew Wright. “I also realized any data that did exist was typically worthless because it lacked a common nomenclature. Not only was it frustrating, it was bad for business.”

The SpecRight platform is designed to digitize and manage all specification data, from raw materials to ingredients and formulas to packaging and finished goods. By digitizing and linking specifications together, companies create visibility and traceability across their supply chains. Today, more than one million products are in the Specright system, according to the company.

“From automotive, to aerospace and food packaging, I saw that industries were struggling with inefficiencies that stemmed from a lack of packaging and product data. I also realized any data that did exist was typically worthless because it lacked a common nomenclature.”

Matthew Wright, Founder and CEO of Specright

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In Tokyo, Featured, Announcements

SAP.iO Foundry Tokyo To Accelerate Data & Analytics Startups

October 6, 2021 — SAP SE (NYSE: SAP) launched its B2B startup program at SAP.iO Foundry Tokyo with focus on data and analytics. Five startups working in the areas of data harmonization, business analytics, machine learning and data-as-a-service have been selected to join the program.

“It has become increasingly important for our customers to analyze data and get insights from it, particularly in light of the current COVID-19 pandemic,” said Hirofumi Suzuki, SAP Japan President and Representative Director. “This program will encourage our customers to use a variety of data on SAP platforms with new technology from cutting-edged startups”.

The equity-free program is designed to accelerate innovation and drive new business models for SAP’s customers. During the 13-week virtual program, the startups will have access to curated mentorship, exposure to SAP® technology and application programming interfaces (APIs), as well as collaboration opportunities with SAP customers.

The data and analytics cohort includes the following startups:

  • EAGLYS provides safer and more private ways of processing and exchanging data via secure computing systems, as well as enables AI to process always encrypted data.
  • Sustainable Lab allows companies to visualize the cost-effectiveness (contribution to earnings and stock price) of their sustainable development goals (SDG) actions using artificial intelligence and big data analysis.
  • Synspective offers one-stop-solutions using geospatial data from its own synthetic-aperture radar (SAR) satellites to provide data and analytic information to governments and commercial outfits.
  • Tradewalz provides a cross-industry digital trade platform to share trade documents and electronic data using blockchain technology.
  • Zeroboard streamlines corporate CO2 emission calculation, reduction management, and compliance with regulatory reporting and market disclosure.

About SAP.iO
SAP.iO delivers new partnerships and products for SAP by accelerating and scaling startup innovation as well as incubating employee ventures. SAP.iO brings together innovators from every region, industry, and line of business to transform how businesses run. Since 2017, SAP.iO has helped 300+ external startups and internal ventures accelerate their growth while enabling thousands of SAP customers to access innovation. For more information, visit https://sap.io/.