Beroe has introduced two novel capabilities so as to boost nnamu, its AI-native negotiation platform.
The Total Value of Ownership – TVO Configurator which is a guided suitability diagnostics tool, closes the disparity between procurement intelligence as well as commercial results, thereby making advanced negotiating methodologies readily available to every team member, and that too on every project.
It is well to be noted that for almost 20 years Beroe has been working on equalising levels of competition when it comes to procurement teams and their suppliers. The Total Value of Ownership – TVO Configurator elevates that objective to the next level.
The founder and CEO of Beroe, Vel Dhinagaravel, further adds that “Every aspect of a supplier’s proposal can be quantified, each supplier’s quotes can be compared holistically, and procurement teams can consequently make a decision that is optimal, today and for the foreseeable future.”
Highlights –
- The AI-native negotiation platform makes use of AI and game theory as well as proprietary market intelligence in order to help purchase teams create and run more intelligent sourcing events.
- The TVO Configurator is a directed, in-platform module which enables procurement teams to develop a comprehensive total value of ownership model. It enables non-price factors, for example, product characteristics, service levels, or contractual terms, to be brought into the fold of complete sourcing decisions and made negotiable. Every essential non-price difference between suppliers is translated into a financial incentive or penalty, to be used in the negotiation itself, by applying a structured question flow.
- TVO Configurator cuts set-up time from days to 15-20 minutes and provides an audit timeline.
- The Suitability Diagnostics tool helps determine what kind of negotiation to prepare for a category or a specific sourcing event in a category. Users choose their category, see the suitability score determined by market insight across five factors, such as spend characteristics, supplier landscape, category type, and price stability along with margin structure and answer eight project-specific questions. The tool integrates the proprietary data of Beroe along with the buyer’s context in order to rank negotiations from best to worst match, with comprehensive advice on the execution, risks, and advantages.
