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Suplari to Build Custom AI-Powered Insights Applications for Enterprises

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Suplari, the AI-powered intelligent spend management system for enterprise procurement and finance, today unveiled a new program to build Custom Insights Applications for its customers. Insights are always-on, intelligent applications in Suplari. The Insights Applications automatically and persistently monitor enterprise data, and proactively detect opportunities to optimize spend, risk and compliance. With this new Custom Insights program, Suplari can rapidly develop Insights Applications, specific to each business, to tackle their hardest strategic problems, operational optimization needs and data blind spots. The announcement happens during ISM 2019 Spark Event, hosted by the Institute for Supply Management in Houston, where team Suplari will be presenting its system and new Insights.

Insights Applications are Always-On Opportunity Detectors, to Optimize Productivity, Spend, Risk and Compliance – the proactive, efficient and accountable way.

Finance and procurement are under constant pressure to optimize spend, risk and compliance – but struggle to get timely and actionable insights into spend and supplier activity. Basic and static reporting are no longer sufficient. Suplari makes sense of customers spend data sources and supplier activity. The system runs Insights Applications using algorithms that enable persistent monitoring, timely alerting and proactive resolution of optimization opportunities.

Highlighted examples of Suplari’s built-in Insights Applications include the ones detecting optimization opportunities for: outlier and suspicious transactions, employee subscriptions and purchasing activity, early contract renewal and negotiation, demand aggregation, purchasing process violations, and much more.

This more automated, proactive, accountable approach also saves customers the time wasted on fixing data and crunching reports. Teams can then become more agile, and focus on what matters most – decisions, relationships and value creation.

Custom Insights Drive Intelligence from Finance, Operations and Procurement Data

“Enterprises are operating in a time of increasing volatility, disruption and opportunity,” said Nikesh Parekh, Co-founder and CEO at Suplari. Every enterprise is looking for solutions to increase back-office productivity, drive intelligence from their data, and proactively drive execution. Yet, the solutions need to be unique to each enterprise’s operating model and strategic challenge. Suplari frees the data from traditional systems and drive proactive, customized answers to company-specific challenges.”

To build the Custom Insights, Suplari starts with connecting data sources across disparate systems. Then runs algorithms that automatically monitor data and detect optimization opportunities. The applications also render easy to use data explorers, rich analytics, alerting and tracking of opportunities. All those capabilities come together to help close the full loop from identifying and investigating opportunities all the way to resolving them and capturing the actual outcomes.

Enterprise finance and procurement teams engage Suplari and apply Custom Insights to solve core challenges they face:

  • Blind spots in spend data and operations management
  • Data sets that need to be connected and monitored
  • Unique KPI or cost allocation to be better tracked
  • Uncovering hidden costs, risks or fraud
  • Strategic business initiatives, missing relevant metrics

“The use cases are broad and revolutionary,” added Parekh. For example: a retailer powerhouse needed to monitor preferred and rogue spend in fulfillment centers to improve sourcing; an electronics manufacturer connecting part inventory management to revenue forecast; an insurance company needed insights into driving greater adoption and compliance to their PO process. Other customers wanted visibility into rogue behaviors, risk factors, budget tracking and departmental expenses. The possibilities are limitless.”

Making it All Possible with Insights Generator: Our Integrated Development & Data Science Environment

Suplari is constantly expanding its catalog of Insights Applications. The ability to rapidly develop both built-in as well as Custom Insights relies on Suplari’s proprietary Insights Generator technology. The Insights Generator is Suplari’s proprietary integrated development and data science environment. It leverages cloud infrastructure, Kubernetes clusters, machine learning and pervasive data science technologies such as Python, Jupiter and Pandas. The Insights Generator give data scientists control and versatility for the rapid development of intelligent applications, helping solve any enterprises mission-critical challenge.

Suplari’s Insights Generator was architected and designed by Suplari’s CTO Jeff Gerber, former CTO of iConclude / HP Business Service Automation and former Chief Architect of Apptio. “We founded Suplari to build intelligent applications for the enterprise,” said Gerber. “We are experiencing a revolution in AI advancement. In the consumer space, we now have intelligent assistants that can do your shopping, screen your calls, find the music you like or even recognize friends and family in your photo collection. Bringing this type of innovation to the enterprise, Suplari helps customers identify business optimization opportunities – in a way that was not possible to find using traditional techniques or basic analytics.  We are applying AI to the messy, disconnected and siloed enterprise dataset and enabling a new order of intelligence, automation and agility for our customers.”

Equipped with these AI-powered Insights Applications, pre-packaged or custom, enterprise finance and procurement teams can build a rich opportunity pipeline, with a variety of contributing tactics and levers, and an accelerated pace to hit cost savings, risk and compliance optimization goals. They can turn spend management into an enterprise-wide, accountable and ongoing practice, rather than reactive, one-off initiatives.

To learn more about Suplari’s Intelligent Spend Management System and the new Custom Insights program, visit www.suplari.com.

 

SOURCE Suplari

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Sleep interiors brand gets job offer from Peter Jones despite not securing investment in Dragons Den

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LONDON, March 29, 2024 /PRNewswire/ — Tonight on BBC1, REMY founder Abeer Iqbal, entered the Den, and despite intense grilling and no investment, left with a six-figure job offer from Peter Jones

Abeer’s pitch began with the Dragon’s keen to experience his sleep-enhancing furniture. When Steven and Peter laid on his hero  ‘The Pod’, a reinvention of the beanbag, and under REMY’s best-selling ‘The Lounger’ weighted blankets, the dragons closed their eyes and pretended to snore. Which was ironic, as despite being told he’d enter the Den around 5pm, Abeer actually went in at 9.30pm, after the dragons had been receiving pitches since early that day, which to Abeer’s own admission “wasn’t easy”. Deborah Meaden said, “This might have been a fatal mistake to put your dragons to sleep before we start the pitch” – recognising that it had been a long day.

After 10+ years working in tech, helping multi-million pound businesses grow their empire at software giants like Shopify, Abeer experienced burn-out, which led him to develop REMY. Despite Abeer telling the dragons that he left the high-pressure industry due to stress and anxiety Peter Jones still offered him a job back in the rat race with a six-figure sum (which he still hasn’t taken). 

After leaving the Den, Abeer admitted feeling the “most anxious ever” and that he “just wanted to get back to his wife for a hug”.  Abeer shared, “I didn’t sleep for days, replaying every moment in my mind. I wanted to forget it.” But it’s not all bad, as Abeer explains, “the anxiety I experienced from the Den gave me a lightbulb moment and led me to create our most popular product yet – The Hugger Pillow. I needed a hug, so I created one”. 

Abeer continues, “I returned the next day to collect my items from the studio. I bumped into a fresh-faced Peter and Toukar in the carpark, they both praised my experience, Peter once again offered me a job and Toukar asked me to call him when I start the next business.”

The global ‘sleep economy’ is booming, projected to reach a record high of $585 billion this year. But Abeer felt he was unable to communicate this, “If I could have my time again, I would focus on the industry of Rest and Sleep rather than the specific products we were trying to innovate. I don’t think I articulated to the Dragon’s the size of the business opportunity that there is with REMY. In terms of what’s next, we are moving towards becoming a household name in rest and sleep but offering products in multiple categories.”

The Dragon that seemed to understand Abeer’s passion for this industry was Sara Davies, saying “I actually fundamentally don’t agree with what I’ve heard here. What I see in front of me, yes he is great at the e-commerce side of things but he gave up a career in corporate because he was passionate about this area. And if there’s one thing I know about business it’s that you will succeed when you pursue the thing you are passionate about. I wouldn’t discourage you to give up. Keep doing it and good luck. I think you could sell anything”.

You can watch Abeer Iqbal on Dragons’ Den on BBC iPlayer.

remysleep.com / @WEAREREMY

Photo – https://mma.prnewswire.com/media/2374872/REMY_Sleep_1.jpg

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Bitrue Coin (BTR) Analyzes User Behavior and Announces Upcoming Developments to Enhance Utility

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SINGAPORE, March 29, 2024 /PRNewswire/ — Bitrue, a leading cryptocurrency exchange serving over 10 million users globally, announces a focus on user behavior analysis to further develop the utility of its native token, Bitrue Coin (BTR).

“Understanding how our users interact with BTR is crucial for its continued growth,” states Robert Quartly-Janeiro, Chief Strategy Officer of Bitrue. “This analysis will guide upcoming developments that enhance the value proposition of BTR within the Bitrue ecosystem.”

The announcement follows a recent surge in interest surrounding exchange tokens, and digital assets used to pay for services to unlock benefits within specific cryptocurrency exchanges. Currently, BTR offers a compelling range of benefits to Bitrue users, including:

  • Reduced Trading Fees: BTR holders enjoy lower trading fees on the Bitrue exchange, incentivizing active participation in the platform’s marketplace.
  • Governance Voting Rights: BTR grants voting rights on select new listings, allowing users to influence the direction of the Bitrue platform.
  • Staking Opportunities: BTR holders can stake their tokens to earn passive rewards, providing an additional avenue for generating income within the Bitrue ecosystem.
  • Exclusive Airdrop Potential: BTR holders may be eligible for airdrops of new tokens listed on the Bitrue exchange, offering the chance to discover promising crypto projects early.
  • VIP Investment Caps: BTR unlocks higher investment caps for certain cryptocurrencies on the Bitrue platform, catering to high-volume investors.

“BTR already plays a multifaceted role in the Bitrue experience,” Quarterly-Janeiro continues. “By strategically expanding its utility based on user behavior analysis, we aim to solidify BTR’s position within the exchange token market and elevate its value proposition for our user base.”

The specific developments based on user behavior analysis are not disclosed at this time. However, Bitrue assures its users of continued transparency and will share details in due course.

Media Contact: Lily Ho, [email protected]

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Affordability, customisation and convenience: Term plans from India become more attractive and accessible for NRIs

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Term insurance from India emerges as preferred choice for NRIs seeking affordability and convenience

DUBAI, UAE, March 29, 2024 /PRNewswire/ — Policybazaar, India’s leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, affordability and accessibility offered by the Indian insurance market. While several factors contribute to the growing interest in term insurance in India, affordability and convenience stand out as primary reasons. The demand among the 18-60 age group has seen an impressive 130% year-on-year growth, with India emerging as the preferred choice for NRIs.

The surge in demand from NRIs can be credited to several standout features and benefits. Term policies from India cost up to 30-50% less for NRIs residing in the UAE and Singapore. Additionally, policies with coverage of up to INR 5 crores can be easily obtained with tele-medical check-ups from India, eliminating the need for physical visits. Unlike some countries with restricted policy terms and coverage, Indian term plans offer coverage for longer duration, extending up to 99 years.

Sarbvir Singh, Joint Group CEO, Policybazaar, states, “We are witnessing exponential growth in term insurance purchases from NRIs, particularly from the Gulf nations and Singapore. Policybazaar has focused its efforts on expanding term insurance protection in both Indian and overseas markets. The unmatched benefits offered by India, including competitive pricing, larger covers, and streamlined processing through video/tele medicals, are significant contributors to this demand. It is heartening to see NRIs realizing the importance of securing their dependents’ future and choosing Indian term insurance policies.”

Term Insurance for a 35 year old male, non-smoker
Policy term – 30 years

Country

India

UAE

Cover Amount

INR 2 Cr / AED 881 K

AED 900 K

Max Cover Upto

99 years

80 years

Premium in AED

AED 977.8

AED 1,539

Premium in INR

INR 22,193.00

INR 34,892.00

Free Add-ons

Early Payout on Terminal Illness + Waiver of Premium

Price Benefit

36% cheaper in India

Source: Policybazaar.com

NRIs are also eligible for 18% GST exemption* upon purchasing term insurance plans from India, when paying via their NRE accounts. This attractive pricing, along with the availability of longer-term plans, has led to a rise in demand among NRIs, especially from Gulf nations, where 65% of term insurance buyers hail from, with the UAE alone contributing 35%.

Rhishabh Garg, Head of Term Insurance at Policybazaar, adds, “The evolution in the Indian term insurance industry is marked by innovative offerings designed to meet the distinct needs of consumers overseas. The consumer-centric features in term plans from India are increasingly appealing to NRIs, which include return of premium at no extra cost, early pay-outs for terminal illness, premium waivers for permanent disability, and immediate pay-out of up to INR 2 lakhs on claim intimation for immediate obituary expenses.”

The accessibility of these plans is further enhanced through seamless processing for NRIs, whose average annual income exceeds INR 35 lakhs. Insurers now also offer a sum assured of up to 5 crores, ensuring adequate coverage based on Human Life Value (HLV) calculations. NRIs can also leverage Policybazaar’s search and comparison engine to browse the best suitable plans as per their needs and preferences.

With a commitment to providing comprehensive coverage and protection, Policybazaar continues to redefine the landscape of term insurance for NRIs, empowering them to secure their loved one’s future with peace of mind. As NRIs continue to seek comprehensive coverage and value-driven solutions, Policybazaar remains dedicated to delivering innovative term insurance products and services tailored to their evolving needs.

*Tax benefits are subject to change in tax laws

About Policybazaar.com

Policybazaar.com is one of India’s largest insurance marketplace. It is the flagship platform of PB Fintech, which owns the fintech brand, Paisabazaar.com, and lending & insurance marketplace in the UAE region, Policybazaar.ae. Policybazaar.com started with the purpose to educate people on insurance products and with its offerings has addressed the large and highly underpenetrated online insurance markets.

Logo: https://mma.prnewswire.com/media/2375092/Policybazaar_Logo.jpg

 

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