PLEASANTON, Calif.--(BUSINESS WIRE)--Jun 21, 2023--
LevaData, the company behind the industry-leading AI-powered supply management platform, today announced it has been selected as the winner of the Best AI-Based Solution for Procurement Award at the sixth annual AI Breakthrough Awards. Conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, the award program identifies the top technologies and products in the global artificial intelligence (AI) market today.
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Unprecedented volatility and ongoing economic uncertainty have forced companies to look more closely at how they can achieve complete data visibility and, most importantly, turn their massive loads of information into meaningful insights to make intelligent decisions about their direct material sourcing. Some of the most respected technology and manufacturing companies in the world trust LevaData and its innovative platform.
LevaData’s extensive lead time insights offer users a comprehensive picture of how trends have evolved, the direction they are moving in and their magnitude, so they can anticipate future scenarios. Users can review manufacturer lead times within the same commodity areas and proactively identify alternative suppliers to ensure supply continuity and resiliency.
The platform also provides expanded awareness of the breakdown and flow of their spend, which can easily be viewed on LevaData’s configurable dashboard. Detailed views with robust insights and recommendations make it simple for supply chain and procurement teams to dissect all their spend data and quickly identify savings opportunities. Furthermore, LevaData’s sophisticated AI algorithms create more accurate results to allow for advanced benchmarking and alternate parts optimization features.
“Procurement professionals who ditch spreadsheets find new growth opportunities as they leverage our platform to collaborate across their organizations, increasing productivity and efficiency and adding value in new ways. We want to help procurement teams transform from a cost-cutting function into a strategic and value-adding powerhouse,” said Keith Hartley, CEO, LevaData. “Thank you to AI Breakthrough for understanding our mission of empowering companies to make the smartest sourcing decisions for their direct materials spend. Our platform’s new features go beyond decision intelligence capabilities. We will continue to innovate as we strive to help shape the procurement industry going forward.”
The mission of the AI Breakthrough Awards is to honor excellence and recognize innovation, hard work and success in a range of AI- and machine learning-related categories, including generative AI, computer vision, AIOps, deep learning, robotics, natural language processing, industry-specific AI applications and many more. This year’s program attracted more than 3,200 nominations from over 20 different countries around the world.
“Congratulations to LevaData on bringing home a well-deserved 2023 AI Breakthrough Award. AI hype is leaving people wondering about the future impact of AI on their industries. LevaData’s integrated, AI-powered supply management platform is transforming direct material sourcing and enabling companies to manage costs while reducing risk,” said James Johnson, managing director, AI Breakthrough. “Unprecedented volatility and ongoing economic uncertainty are driving companies to seek actionable insights from data to make better decisions about their direct material sourcing. LevaData direct sourcing provides decision intelligence that literally saves companies millions of dollars almost immediately.”
About LevaData
LevaData’s integrated, AI-powered supply management platform is transforming direct material sourcing and enabling companies to manage cost while reducing risk. We power the smartest supply chains in the world by constantly analyzing business objectives against real-time market activities and community intelligence. We are trusted to deliver improved margins, control risks, generate new product velocity, and achieve multitier supplier engagement with purpose-built tools for quick collaboration and decisive actions. LevaData provides companies with a competitive advantage through transformational, predictive insights. Our customers include large and complex enterprise companies and small- and medium-sized OEMs seeking to achieve best-in-class supply management practices. For more information on LevaData, visit levadata.com.
About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in AI technologies, services, companies and products. The AI Breakthrough Awards provide public recognition to honor the achievements of AI companies and products in categories including AI platforms, robotics, business intelligence, AI hardware, NLP, computer vision and more. For more information, visit AIBreakthroughAwards.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230621990371/en/
CONTACT: Melissa Africano
Corporate Ink for LevaData
levadata@corporateink.com
617-969-9192
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT DATA MANAGEMENT RETAIL TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE
SOURCE: LevaData
Copyright Business Wire 2023.
PUB: 06/21/2023 08:00 AM/DISC: 06/21/2023 08:00 AM
http://www.businesswire.com/news/home/20230621990371/en
