Suplari, the AI-powered intelligent spend management system for enterprise procurement and finance, today unveiled a new program to build Custom Insights Applications for its customers. Insights are always-on, intelligent applications in Suplari. The Insights Applications automatically and persistently monitor enterprise data, and proactively detect opportunities to optimize spend, risk and compliance. With this new Custom Insights program, Suplari can rapidly develop Insights Applications, specific to each business, to tackle their hardest strategic problems, operational optimization needs and data blind spots. The announcement happens during ISM 2019 Spark Event, hosted by the Institute for Supply Management in Houston, where team Suplari will be presenting its system and new Insights.
Insights Applications are Always-On Opportunity Detectors, to Optimize Productivity, Spend, Risk and Compliance – the proactive, efficient and accountable way.
Finance and procurement are under constant pressure to optimize spend, risk and compliance – but struggle to get timely and actionable insights into spend and supplier activity. Basic and static reporting are no longer sufficient. Suplari makes sense of customers spend data sources and supplier activity. The system runs Insights Applications using algorithms that enable persistent monitoring, timely alerting and proactive resolution of optimization opportunities.
Highlighted examples of Suplari’s built-in Insights Applications include the ones detecting optimization opportunities for: outlier and suspicious transactions, employee subscriptions and purchasing activity, early contract renewal and negotiation, demand aggregation, purchasing process violations, and much more.
This more automated, proactive, accountable approach also saves customers the time wasted on fixing data and crunching reports. Teams can then become more agile, and focus on what matters most – decisions, relationships and value creation.
Custom Insights Drive Intelligence from Finance, Operations and Procurement Data
“Enterprises are operating in a time of increasing volatility, disruption and opportunity,” said Nikesh Parekh, Co-founder and CEO at Suplari. Every enterprise is looking for solutions to increase back-office productivity, drive intelligence from their data, and proactively drive execution. Yet, the solutions need to be unique to each enterprise’s operating model and strategic challenge. Suplari frees the data from traditional systems and drive proactive, customized answers to company-specific challenges.”
To build the Custom Insights, Suplari starts with connecting data sources across disparate systems. Then runs algorithms that automatically monitor data and detect optimization opportunities. The applications also render easy to use data explorers, rich analytics, alerting and tracking of opportunities. All those capabilities come together to help close the full loop from identifying and investigating opportunities all the way to resolving them and capturing the actual outcomes.
Enterprise finance and procurement teams engage Suplari and apply Custom Insights to solve core challenges they face:
- Blind spots in spend data and operations management
- Data sets that need to be connected and monitored
- Unique KPI or cost allocation to be better tracked
- Uncovering hidden costs, risks or fraud
- Strategic business initiatives, missing relevant metrics
“The use cases are broad and revolutionary,” added Parekh. For example: a retailer powerhouse needed to monitor preferred and rogue spend in fulfillment centers to improve sourcing; an electronics manufacturer connecting part inventory management to revenue forecast; an insurance company needed insights into driving greater adoption and compliance to their PO process. Other customers wanted visibility into rogue behaviors, risk factors, budget tracking and departmental expenses. The possibilities are limitless.”
Making it All Possible with Insights Generator: Our Integrated Development & Data Science Environment
Suplari is constantly expanding its catalog of Insights Applications. The ability to rapidly develop both built-in as well as Custom Insights relies on Suplari’s proprietary Insights Generator technology. The Insights Generator is Suplari’s proprietary integrated development and data science environment. It leverages cloud infrastructure, Kubernetes clusters, machine learning and pervasive data science technologies such as Python, Jupiter and Pandas. The Insights Generator give data scientists control and versatility for the rapid development of intelligent applications, helping solve any enterprises mission-critical challenge.
Suplari’s Insights Generator was architected and designed by Suplari’s CTO Jeff Gerber, former CTO of iConclude / HP Business Service Automation and former Chief Architect of Apptio. “We founded Suplari to build intelligent applications for the enterprise,” said Gerber. “We are experiencing a revolution in AI advancement. In the consumer space, we now have intelligent assistants that can do your shopping, screen your calls, find the music you like or even recognize friends and family in your photo collection. Bringing this type of innovation to the enterprise, Suplari helps customers identify business optimization opportunities – in a way that was not possible to find using traditional techniques or basic analytics. We are applying AI to the messy, disconnected and siloed enterprise dataset and enabling a new order of intelligence, automation and agility for our customers.”
Equipped with these AI-powered Insights Applications, pre-packaged or custom, enterprise finance and procurement teams can build a rich opportunity pipeline, with a variety of contributing tactics and levers, and an accelerated pace to hit cost savings, risk and compliance optimization goals. They can turn spend management into an enterprise-wide, accountable and ongoing practice, rather than reactive, one-off initiatives.
To learn more about Suplari’s Intelligent Spend Management System and the new Custom Insights program, visit www.suplari.com.
Bleckwen Raises $10m and Appoints David Christie as CEO
Bleckwen, a provider of real-time analytics software for fraud detection & prevention in payments, has come out of stealth to announce a $10 million first funding round. The funding will be used to support Bleckwen’s international expansion and the continued development of the company’s exciting software capabilities in AI-based fraud detection. The company’s expertise is strategically focused on the wider anti-money laundering (AML) and counter-terrorism financing (CTF) context. Bleckwen recently spun-off from Ercom, the French cybersecurity firm. The round was led by Ring Capital, a Paris-based venture capital firm and existing investors, including TempoCap, Bpifrance and Ineo, alongside senior management.
Built with banks, for banks, Bleckwen’s real-time, dynamic behavioural analytics & explainable AI-engine is well placed to detect the surging fraud threats in payments, such as authorised push payment fraud or the “human hack” which is growing by circa 60% year-on-year, driven by the surge in real-time payment networks globally. The platform also protects banks from the emergent risks of open banking under PSD2, where banks will no longer have full control of the end-to-end user experience and security perimeter, presenting a completely new threat dimension.
Over the last year, the company has also strengthened its management team with the hire of David Christie, a 20-year veteran in financial services, previously the COO of Euronet’s money transfer business, which included the brands Ria, HiFX and XE. David is also Chairman of VitessePSP and investor in Shieldpay, bringing with him a wealth of experience implementing and operating both fraud and AML systems in payment businesses.
David is also joined by Matt Knowles, who was recently appointed Chairman of Bleckwen. Matt was previously CEO of HiFX, and together he and David successfully scaled HiFX into a world leading international payments company prior to its successful sale to Euronet.
David Christie, Bleckwen’s CEO, commented: “Nearly $4 trillion is stolen and laundered through banks annually – circa 3% of global GDP. Existing technologies are just not cutting it in the fight against this scourge of society. Something else needs to be done and at Bleckwen, we have made tremendous progress over the last two years as part of the Ercom Group, developing solutions to bring the fight to these criminals.”
“This fundraising is confirmation of our ‘scale-up readiness’ and the support from Ring Capital and our existing investors is testament to our expertise in productising class-leading AI-based analytics in the fight against financial crime for banks. Using Bleckwen’s software, we are seeing false positive ratios drop by over 95%, the time taken to resolve alerts fall by over 50%, and a reduction in fraud loss ratios by over 60% – as compared with incumbent legacy-based rules systems.”
“Working very closely with our customers, which include a tier-1 global bank, we have developed a market-leading, payment-type agnostic, real-time capability to meet their fraud detection and prevention requirements at industrial scale. Bleckwen’s software can also dynamically adapt to ever-changing customer behaviours and profiles. We have also significantly strengthened our senior management team and operational infrastructure and will be opening offices in the UK and the US in 2019.”
Matt Knowles, TempoCap Partner and Bleckwen Chairman, commented: “Having co-founded and scaled an international payments company that processed $20 billion annually, I have extensive real-world experience of the challenges faced by both fintechs and banks in of the domain of fraud detection and AML. I have been deeply impressed by Bleckwen’s advanced use of machine learning technology to radically increase fraud detection over current solutions, but, as importantly, substantially reduce the volume of false positives (which build friction and cost into the customer journey). We see significant potential to commercialise this technology across banks, fintechs & other multi-national enterprises to help combat fraud and AML risk across all payment types.”
Nicolas Celier, co-founder of Ring capital, commented: “Bleckwen has appeared to us as the unique combination of state-of-the-art AI technology, built by a leading French data team, together with top international management with a solid track record of scaling up Fintech companies worldwide. Ring knew Bleckwen before the spin-off and has contributed to design this deal in order to help Bleckwen grow and scale.”
Thierry Sommelet, Managing Director at Bpifrance Growth Capital – Head of Technology, Media, Telecom, said: “Bleckwen is uniquely positioned to help the fast-moving payments ecosystem improve clients’ protection and transaction efficiency, thanks to a leading-edge AI technology and experienced management. We are very happy to see David Christie and Matt Knowles join this adventure, as well as Ring Capital. We are confident that they will collectively thrive in driving the company on its new phase of growth.”
Bleckwen was recently awarded Fintech of the year at the EBAday 2019, an event run by the Euro Banking Association – an expert-led forum for the European payments industry with nearly200 member banks. Selected out of a category of 16 other finalists, the company received the prestigious award based on the innovative and dynamic nature of its market-leading AI-powered platform.
KLoBot – An Enterprise Chatbot Builder Platform launches Twilio Integration to Enhance Customer Experience
KLoBot – a DIY Chatbot platform is pleased to set in motion the much-awaited integration to Twilio. With technology and social media enabling an always-on approach to business, customer expectations have been higher. Voice and Text enabled chatbots empower customer-facing organizations across numerous industries to communicate and engage with every end user seamlessly.
To learn more about KLoBot, visit us online – www.klobot.ai
“Businesses must support ease of chatbot interactions for their customers using traditional communication such as a simple phone call or text messaging,” said Ragav Jagannathan, Founder of KLoBot, Inc. “With KLoBot based chatbots readily available on Twilio platform, businesses can offer their customers 24/7 first line of support using a simple voice call or SMS to a phone number and automatically have chatbot respond to their query.”
Customers can get access to information ‘on-demand’ via a simple text message or voice call in real time. These cutting edge, no-code chatbots streamline communication and enhance customer engagement. If the requests get complicated, they are smoothly transitioned from bots to human via KLoBot’s ‘Live Agent Handoff’ skill. Watch Video
KLoBot and Twilio, together, will allow companies to manage customer relationship via automating routine tasks and processes. Early adopters of KLoBot can drastically save operation costs, improve sales, offer personalized customer service and in turn, gain a sustainable competitive advantage by discovering the benefits of this KLoBot and Twilio compelling integration.
SOURCE KLoBot, Inc.
Synopsys and GLOBALFOUNDRIES Collaborate to Develop Broad Portfolio of DesignWare IP for 12LP FinFET Process
- DesignWare IP portfolio for GLOBALFOUNDRIES 12LP FinFET process includes Multi-Protocol 25G, USB 3.0 and 2.0, PCI Express 2.0, DDR4, LPDDR4/4X, MIPI D-PHY, SD-eMMC, and Data Converters
- Synopsys’ DesignWare IP are optimized for high performance and low latency in compute-intensive applications, such as artificial intelligence, high-end smartphones, and networking infrastructure
- Long-standing collaboration between the two companies has resulted in the successful development of DesignWare IP from 180-nm to 12-nm
Synopsys, Inc. (Nasdaq: SNPS) today announced its collaboration with GLOBALFOUNDRIES (GF) to develop a broad portfolio of DesignWare® IP, including Multi-Protocol 25G, USB 3.0 and 2.0, PCI Express® 2.0, DDR4, LPDDR4/4X, MIPI D-PHY, SD-eMMC, and Data Converters, for GF’s 12-nanometer (nm) Leading-Performance (12LP) FinFET process technology. Synopsys’ DesignWare IP on the GF 12LP process enables designers to implement the latest interface and analog IP solutions in their artificial intelligence (AI), cloud computing, mobile, and consumer system-on-chips (SoCs) on GF’s 12LP technology, which delivers a 10 percent improvement in logic density and more than a 15 percent improvement in performance compared to previous FinFET generations. This collaboration is another extension to the long-standing relationship between the two companies, which has delivered DesignWare IP for GF’s processes from 180-nm to 12-nm.
“In response to growing demand for differentiated, feature-rich FinFET offerings, we are collaborating with Synopsys to provide quality IP in GF’s processes, enabling designers to deliver differentiated products to a broad set of market segments,” said Mark Ireland, vice president of Ecosystem Partnerships at GF. “The combination of our 12LP process with 3D FinFET transistor technology and Synopsys’ high-performance DesignWare IP allows our mutual customers to accelerate their time to volume production.”
“As the leading provider of interface IP, Synopsys continues to collaborate with key foundries, such as GF, to deliver DesignWare IP solutions for the latest FinFET process technologies,” said John Koeter, vice president of marketing for IP at Synopsys. “With Synopsys’ DesignWare IP portfolio in GF’s 12LP process, designers can efficiently integrate the necessary functionality into their complex SoCs while meeting the bandwidth and power requirements of their mobile and high-end computing applications.”
SOURCE Synopsys, Inc.
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