German startup mysupply is an advanced SaaS solution transforming sourcing with AI automation, which empowers companies to increase negotiation savings by 5-11% and reduce operational effort by 50%.
With the goal of making sourcing autonomous, mysupply now introduces an AI Sourcing Assistant to help users deal with all sourcing requests and even allows self-service sourcing for low- to medium-value goods and services. It can be integrated into a variety of systems like SAP Ariba, S/4HANA, ECC, Coupa, Ivalua and many more.
The company uses best-in-class game theory and AI algorithms for optimal negotiation outcomes and covers the sourcing process from RFP and supplier invitations, all the way up to fully automated negotiations.
With mysupply, requesters receive sourcing guidance and can source their demand with less effort, while also paying less in the process. The company’s solution wields AI to simplify sourcing in the following ways:
- Match incoming purchase requests with a user’s best suppliers
- Intelligently bundle demands together based on overlapping suppliers
- Add historical data to fine-tune the algorithm for the user’s niche
“Procurement teams are under high pressure to deliver the goods and services needed to run the business and deliver savings,” says Ronny Denk, Co-Founder and CSO at mysupply. “Providing tangible benefits and liberating savings are key to keeping businesses up and running. Therefore automation and AI are the key technologies to make life easier for procurement professionals.”
“Our vision is to give procurement professionals the time to focus on high strategic topics by making non-strategic sourcing fully autonomous,” adds Andreas Zimmermann, Founder and CEO of mysupply.
As a member of ProcureTechs Network, the community of Europe’s most innovative start-ups with a focus on procurement, mysupply is looking forward to helping shape the future of procurement.
Looking ahead to the coming years, mysupply believes in an iterative approach, so the company constantly collects feedback from all its users. The goal? Ultimately mysupply is working towards making the entire procurement process better step by step, adding more and more intelligence and covering additional use cases. In the near future, the business is looking to leverage the power of machine learning and AI as much as it can to completely change sourcing for the better.
Check out mysupply’s use cases here.
See the company’s solution in action by heading here.
