LevaData launches AI advisor Leva for strategic sourcing
|Christian Hargrave in Artificial Intelligence Friday, October 27, 2017|
AI advisor for strategic sourcing and procurement, Leva, has been released by LevaData for enterprises.
Leva’s most significant and transformative innovation is in the area of negotiations. The AI advisor is designed to provide supply chain and procurement professionals with maximum purchasing leverage for a given situation. It draws on a proprietary ontology of over 40 negotiation levers, used in thousands of sourcing events, to recommend the most effective lever and its use - in the right context and sequence - to dramatically improve negotiation strategy and outcomes. This application of machine learning results in an optimized negotiation process that includes evaluation of response behavior, an ongoing search for value-based outcomes, and the enablement of semi-autonomous or even autonomous sourcing events.
“We’re incredibly proud to announce Leva, not only because it is the world’s first AI advisor for cognitive sourcing, but because it leapfrogs existing solutions that are focused only on procurement and sourcing process automation,” commented Rajesh Kalidindi, Founder and CEO of LevaData. “Leva is revolutionary because it leverages the true power of AI, including crowd-sourced intelligence, predictive cost modeling, and targeted evaluation of risks and opportunities, for the kind of strategic decision support that empowers sourcing and procurement functions to drive sustainable competitive advantage.”
Leva is built on LevaData’s Cognitive Sourcing Platform and enables a “cognitive sourcing cycle” that guides strategic supply chain and procurement professionals through sourcing risks and savings opportunities. It evaluates each risk or opportunity and offers prioritized actions, ranked by financial impact and time horizon. It ingests hundreds of thousands of sources of insights, including changes to enterprise spend and forecast information, as well as market intelligence, benchmarking, and more than 5,000 news sources, to deliver actionable insights.
Furthermore, Leva personalizes recommendations to a specific role in the supply chain. These contextual, push-based insights and recommendations are also personalized by role, organization, scope of control, and security and are delivered to the right person, at the right time, to facilitate better and faster decisions on complex sourcing issues.
Finally, constantly learns from experience to drive continuous improvement. It incorporates crowd-sourced intelligence from the entire community of all LevaData customers to continually learn from industry peers and improve results.
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