Verusen announced the launch of its AI-powered “Trusted Supply” application, enabling industrial distributors, integrators and suppliers to maximize visibility into customer demand to grow revenue and improve network resiliency for their customers.
Data for the materials used throughout industrial supply chains is dirty, incomplete and inconsistent as it passes through end-user and supplier systems. The traditional solution has always been data cleansing for multiple siloed applications and manual processes that cost all parties too much time, money, and risk.
Verusen’s Trusted Supply is an application purpose-built for suppliers featuring natural language AI models to enable suppliers to respond more effectively to customer needs, regardless of system or data quality. Today, the offering is designed to streamline the RFx process, exponentially improving the match rate for materials requested by customers and prospects, enabling suppliers to respond in hours instead of weeks.
Future enhancements to Trusted Supply focus on improving efficiency and enhancing revenue generation with key areas of development including:
- Real-time exchange of demand signals with customers
- Tail spend optimization and contract compliance
- Collaborative planning capabilities between suppliers and their buyers
“Entering our third year in market supporting dozens of F500 manufacturers and generating hundreds of millions in savings opportunities for them, we recognized that the next evolution of supply optimization is to simplify buyer-supplier collaboration to build resilient supply networks,” said Paul J. Noble, Verusen founder and chief strategy officer. “Speed and scale wins. I’m proud that today, Trusted Supply will help remove the friction from the RFx process and that in the future, Trusted Supply will enable real-time collaboration between suppliers and their customers, eliminating data dependent manual processes to make it easier to buy, easier to sell and reduce risk across the supply chain.”