In the area of procurement, although digital transformation has certainly evolved operations, there is still much scope for improvement. This has become especially evident of late, when strategic procurement strategies have been needed to address the macroeconomic challenges that businesses are facing.
Akirolabs exists to unlock the value potential of strategic procurement by implementing artificial intelligence to make the process smarter and swifter. Through the platform, users can create, execute, and monitor their intelligent category strategies, visualising and comparing a diverse range of choices informed by rich insights and their overarching strategy.
The company claims that this approach enables clients to "achieve 4-5 times higher value from procurement - beyond savings" - an impressive feat that will no doubt attract many businesses. With its industry-agnostic approach, akirolabs certainly has the potential to shake up the procurement space, and $5 million in seed funding and a grant from the European Regional Development Fund should set it on its way.
Steph
Company Specialist at Welcome to the Jungle