Press release - September 15, 2022
RALEIGH, N.C – Sep 15th, 2022: Beroe, a global SaaS-based procurement intelligence, and analytics provider, and Cirtuo, the pioneer of digital category management, announced their strategic partnership enabling companies to enhance further the creation and continuous improvement of robust category strategies.
As per a recent report by Gartner, formal category management is on the rise and provides the most effective operating structure for procurement to deliver all its goals in volatile times: From supply continuity to risk management, from collaboration to innovation, from ESG compliance to cost management.
Beroe will integrate its AI-powered digital assistant, Abi, with Cirtuo’s Guided Strategy Creation™ platform, enabling procurement to access external market intelligence, data, and insights while creating or updating category strategies for their business. The Beroe – Cirtuo partnership will help procurement teams using the Guided Strategy Creation™ solution to access market intelligence on nearly 2000 categories, over 3.5 million discrete data elements, and real-time intelligence powered by Abi all along the strategy creation process.
“As formal category management gains currency in large and mature procurement organizations as a way for their teams to stay ahead of the curve, Beroe is delighted to bring together the versatility of Abi, our AI-powered digital assistant, and the power of Cirtuo’s Guided Strategy Creation™ platform. This partnership will enable seamless provision of procurement intelligence directly within the category strategy creation framework making it easier to create, manage and supervise the Category Strategies,” said Beroe Inc. Chief Executive Vel Dhinagaravel.
Abi is at the core of Beroe’s AI-powered intelligence platform, Beroe LiVE.Ai – tailored for procurement and sourcing professionals providing market intelligence, supplier risk information, category benchmarking, cost models, price forecasting, and supplier discovery.
Guided Strategy Creation™ is Cirtuo’s flagship solution, implemented around the globe with Fortune 500 companies as well as niche-player SMEs, across all industries, and successfully applied to both direct and indirect spend categories. It is complemented by adjacent solutions that further enable procurement organizations to strengthen their strategic profile, while allowing for seamless integration with best-of-breed solutions in the operational/ tactical space.
“We are beyond excited to launch our strategic partnership with Beroe. Access to Beroe’s digital market intelligence will be embedded directly in our patented and market-leading Cirtuo Guided Strategy Creation™ solution – available to users in real-time, just one mouse click away. Our clients will dramatically increase the quality of their category strategies and further accelerate the path to impact by cutting out time for external market research. By embedding external market intelligence into Cirtuo, we help organizations utilize such information effectively and contextualize it within strategy creation & development process.” said Drasko Jelavic, CEO, and Founder of Cirtuo.
Beroe is a global SaaS-based procurement intelligence and analytics provider. We deliver intelligence, data, and insights that enable companies to make smarter sourcing decisions – leading to lower cost, reduced risk, and greater profits. Beroe has been a trusted source of intelligence for more than 15 years and presently supports more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
Cirtuo Guided Strategy Creation™ is an AI-powered software that automates category strategy creation, enabling faster decision-making, leading to greater business impact and value delivery beyond savings. Being a pioneer in digital procurement, Cirtuo’s solutions have been integral for over 5,000 CPOs and category managers in embracing change. Cirtuo’s AI-powered solutions help identify hidden savings, mitigate supply risks, and quickly guide category managers through category analysis to high-quality conclusions. Cirtuo Guided Strategy Creation™ has proven itself as a trusted solution adopted by procurement professionals in 40+ countries worldwide.