The firm had established strategic sourcing expertise as an important capability within their innovation / new venture practice. A platform solution was developed to provide market intel on the supply chain, with a principal focus on what products are offered by which manufacturers, distributors and wholesalers. Collectively, this universe consists of ~2+ million companies globally (based on Veridion estimates).
Within the supply chain / strategic sourcing / procurement discipline, because of the need to focus on products (as an entity), and not just "company" as is usually the case, solutions from all traditional b2b data providers could not meet the firm's needs. By "all", the firm confirmed that they do business with all major global data providers of b2b data.
Business Problem
The firm had established strategic sourcing expertise as an important capability within their innovation / new venture practice. A platform solution was developed to provide market intel on the supply chain, with principal focus on what products are offered by which manufacturers, distributors and wholesalers. Collectively, this universe consists of ~2+ million companies globally (based on Veridion estimates).
Within the supply chain / strategic sourcing / procurement discipline, because of the need to focus on products (as an entity), and not just "company" as is usually the case, solutions from all traditional b2b data providers could not meet the firm's needs. By "all", the firm confirmed that they do business with all major global data providers of b2b data.
Despite their expertise, the task of identifying "what companies make what products" wasn't easy: despite the promise from their traditional data vendors, the firm found itself needing to augment the insights from these vendors with a significant manual effort. This approach resulted in them burning a ton of internal team members' (analysts with graduate degrees and busy plates) time manually generating lists of companies that met certain criteria.
Sample File Analysis
When they learned about Veridion's web scraping / data ingestion / data categorization capabilities, they challenged us to a simple test: how many companies in Central America and Mexico manufacture Class 2 electrical transformers? To that point, it had taken the firm's two analysts two weeks to identify approx. 22 candidates. Within two weeks, the Veridion POC solution had identified 55 candidates.
End Solution - Procurement Scouting Automation (data + search API) Veridion developed a custom, integrated search solution that relies on natural language inputs, and a structured output. Turnaround time is within 24 hours.
End Solution