RALEIGH, N.C., May 4, 2021 /PRNewswire/ -- Beroe Inc, the world's leading procurement intelligence firm, said it will now offer readymade, automated cost models in partnership with Netherlands-based WTP Buynamics to help procurement teams gain deeper insights into the cost structure of any product or commodity.
Beroe will integrate WTP's cost modelling solution with its AI-powered platform -- Beroe LiVE.Ai --enabling procurement to build robust cost models on the fly without having to deal with messy, time-consuming, spreadsheets. This also saves enormous costs as Procurement teams can easily identify cost-saving opportunities in minutes as opposed to hours or days.
The clutter-free, single-page output that can be obtained at the click of a button offers better negotiation opportunities for Procurement managers, who will be fully informed about the cost and market dynamics prior to contract or price negotiation discussions with suppliers.
Subscribers of Beroe LiVE.Ai can now instantly access cost models for their categories, materials, and industries. The feature is designed in such a way that a user can easily understand the detailed cost components and key cost drivers of a given product or commodity.
"We are delighted to be partnering with WTP Buynamics to enable automated cost modelling on Beroe LiVE.Ai. The new feature furthers our commitment we have given to our clients: that we will enable every single sourcing decision. This is made possible by presenting the right data in the right context, which is further bolstered by our partners like WTP," said Beroe Inc Chief Executive Vel Dhinagaravel.
The next-gen AI-powered platform is tailored for procurement and sourcing professionals— providing market intelligence, supplier risk information, category benchmarking, cost models, market monitoring dashboards, and supplier discovery.
"Partnering with Beroe is the right step in the direction for WTP Buynamics. At one stroke, our reach has expanded manifold, thanks to Beroe's reach when it comes to their clientele across the globe. We hope all of Beroe's clients use our readymade cost models and derive benefit from it. I can confidently say this as an ex-CPO!" said Robert Driessen, Co-Founder of WTP Buynamics.
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
WTP Buynamics offers vendor rating software (VRS) to measure the performance of suppliers, and data-based should cost software which gives insights in all commodity prices and cost drivers due to big data. The SaaS tool offers market price data on thousands of resources. Provides customized reports in variety of formats. Within minutes it offers buyers a lot of information they can use to get better results in their negotiations. WTP and VRS are tools offered by Buynamics, based in The Netherlands.