BEROE
value chain that ’ s contributing to the delivery of products . It might not be their immediate supplier , but their second , third , fourth tiers and beyond . We try to help them visualise what ’ s happening and whether there are any constraints or issues in the value chain that might have a knock-on effect .”
Minimising surprises and maximising margins At the heart of Beroe ’ s operations is a procurement productivity suite named Beroe LiVE . Ai – the platform through which the company engages with customers .
Beroe LiVE . Ai has a total of 12 modules , each of which focuses on a specific pain point or information requirement .
Among the modules is a cost intelligence section focusing on helping firms understand the cost structure of their suppliers , while price intelligence assists them with pricing trends they should be anticipating in their purchases .
Then there ’ s market intelligence , supplier risk , supplier discovery – the list goes on .
Vel continues : “ In the context of conversations internally , in terms of building their category strategy , in engaging with suppliers and other players in the overall market , you want to make sure procurement organisations are always one step ahead and have all the information they need at their fingertips to have the most robust strategy and minimise prices .
“ Beroe LiVE . Ai contains all the tools procurement organisations need to be as informed as possible .
“ Ultimately , our goal is to help procurement minimise surprises and maximise margin . Those are the two vectors on which we measure the value we deliver .”
“ Today , the environment is that you need intelligence integrated into your workflow every day ”
VEL DHINAGARAVEL FOUNDER AND CEO , BEROE
Beroe : Enabling smarter sourcing decisions Asked to expand on how Beroe is enabling clients to make smarter sourcing decisions , Vel believes one must go back to basics and examine the core focuses of procurement divisions .
On the one hand is the entire process of building out category strategies , based on an understanding of the market , internal business requirements , the supplier base and more .
“ There ’ s a lot of work we do to help customers understand all those different dynamics so they can build the most durable category strategy possible , grounded in a deep understanding of the market and reflective of internal business needs , but also to anticipate risks and proactively think of mitigation steps ,” says Vel .
On the other hand there ’ s execution of the strategy , including strategic sourcing , renegotiations and a variety of additional activities . All in all , procurement organisations require a huge amount of data about their external environments
54 June 2024