Whether it’s building houses brick by brick or products part by part, creating something new in the world requires many components coming together. Software is no different. This week, LevaData announced the most significant product release in the company’s history. With this new release, we’re helping transform what it means to be a sourcing professional in today’s modern manufacturing company.
This release was primarily designed to increase the procurement organization’s speed and agility. After all, the decision abyss is real. It’s what happens when procurement and supply chains operate in siloes. Thus, we built features that make it easier for the direct materials sourcing team to collaborate and communicate with the supply chain planning team using the language of data—contextualized data.
With this release, we collected all the “bricks” that would make an amazing update, and we have created a robust, easy-to-use offering that adds incredible value for customers. Here are some of the exciting new innovative features we’ve added to our already industry-leading platform:
New Lead Time Trend Awareness Features That Anticipate the Future
Expanded lead time insights allow users to peer into the future. This means customers can understand manufacturer lead times within the same commodity areas, along with options involving new suppliers to increase sourcing resiliency.
Enhanced Spend Awareness to Uncover Greater Cost Savings and Value
The newly enhanced spend awareness features dissect all spend data, providing optimization opportunities by spotting variance and excessive purchases.
Expanded Benchmarking and Alternate Parts Optimization Features
Additional benchmarking and alternate parts optimization functions were incorporated, utilizing the most sophisticated AI algorithms in the market. Rapid results mean accelerating the sourcing process, going from minutes or hours to seconds.
LevaData customers already enjoy transformative value, and our platform makes it simple to find millions in savings almost instantly. Now, with our latest release, we’ve given our customers new superpowers.
Industry experts have recognized the LevaData platform’s innovative approach to bridging the decision abyss and capturing more value for the organization. It’s one of the reasons, LevaData has been recognized by Gartner in two categories of the 2022 Gartner Hype Cycle report—Procurement and Sourcing Solutions and as a Sample Vendor for Autonomous Sourcing in the 2023 Gartner Top Technology Trends in Procurement report.
With this monumental new release, LevaData elevates the sourcing professional from simply cost-cutting to value-add for the top and bottom lines of organizations. We know more about parts and ingredients than anyone on the planet, and this release makes it easier than ever to amplify impact quickly and easily. Simply stated, we’re building intelligent software that shapes the future.