— Leading Intercompany Data Automation Platform Empowers Companies to Optimize Their Product Data Flows As Supply Chains Undergo Digital Transformation —
NEW YORK, June 16, 2020 /PRNewswire/ — BackboneAI, an intercompany data automation platform, announces today the launch of “Accelerate,” a new product suite that brings greater efficiency and transparency to supply chains. The company, which launched in early March, builds frictionless data networks that seamlessly automate intercompany data processes. BackboneAI’s new product suite transforms supplier and customer relationships through real-time data synchronization, fast API connectivity, and regulatory integration, bringing greater operational efficiency to companies with supply chains of physical products.
“Our mission is to help companies move faster and serve their customers better by automating their intercompany data flows. During the last few months, we have had tremendous demand for our platform from companies that manage supply chains for physical products, ranging from industrial products to athletic apparel,” said Rob Bailey, CEO and founder, BackboneAI. “The COVID-19 crisis is forcing companies to compress a decade of supply chain transformation into six months, and companies are looking for platforms that provide greater ROI rather than costly, painful, multi-year ERP implementations. We enable companies to move faster, using their existing technology stack.”
BackboneAI’s new “Accelerate” product suite provides three main benefits to customers that enable companies to significantly improve the productivity of their data operations, while reducing costs:
- Automates the acquisition, normalization, and intelligent delivery of supplier data into existing ERP, WMS, and CMS systems.
- Provides extensive scorecarding of suppliers and downstream customers and distributors based on their data quality and responsiveness.
- Offers complete automation of supply chain data management for compliance reasons, such as HAZMAT, ADA, and other categories.
In a global survey, 84% of supply chain executives stated there is a “lack of visibility” across their supply chains. The primary cause of this issue is the lack of real-time integration between various data sources and applications within and between companies, which causes delays in data being updated in multiple systems.
BackboneAI ingests data from multiple sources, such as product availability, product shipment, compliance, and regulatory standards, and transforms it into a unified, real-time data layer that synchronizes different data systems together and improves visibility. With increased data coverage and comprehensiveness, vendors can make more informed decisions and better manage the product flow to their end customers with greater data visibility and speed to supply chain companies.
BackboneAI’s “Accelerate” is an AI platform that provides a completely unique approach to the automation of intercompany data collection and transformation across supply chains. The company makes supplier and customer data smarter by using machine learning technology to integrate product data from various sources, both within and beyond a company. BackboneAI’s “Accelerate” can be configured and deployed quickly within a one to two months, a fraction of the time it takes to implement a new ERP system. Since launching in March, BackboneAI has doubled in size and is on track for rapid market adoption across Fortune 500 and mid-sized companies in categories such as industrial products, automotive, real estate, food and beverage, and ecommerce.
BackboneAI builds frictionless data networks through intercompany automation, a completely new category of automation. It transforms supplier and customer relationships through real-time data synchronization, fast API connectivity, and third-party application and database integration. Based in New York City and founded in 2019 by serial entrepreneur Rob Bailey, BackboneAI helps companies work together more efficiently by automating their intercompany data processes and optimizing communication through technology. The company’s investors include Fika Ventures, Boldstart Ventures, Cendana Capital, Dynamo Ventures, GGV Capital, MetaProp, Spider VC, and several notable angel investors. To learn more about BackboneAI, visit www.backbone.ai and follow them on @backboneai, in/backboneai, and medium.com/@backboneai.
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