Sourcing teams explore Bid Ops predictive sourcing AI at SIG Procurement Technology Summit
ncarol.com/10114701

SAN FRANCISCO - ncarol.com -- The 2021 SIG Procurement Technology Summit runs May 4-6, 2021 online this year due to the pandemic and sourcing professionals are more hungry than ever for advanced technology to predict and win faster savings.

Supply disruptions from the so-called "Big Freeze" in Texas to the ship blocking the Suez Canal have overwhelmed sourcing teams -- not to mention the global microchip shortage. As supply complexity increases due to the acceleration of new product launches, sourcing teams at SIG's Summit will be looking for technology solutions that can help them do more with less.

"The value of procurement within companies has fundamentally changed," says former Chief Procurement Officer Matt Ziskie, who also serves on the Bid Ops Board of Directors. "Category managers want to spend their time focused on the highest value activity that supports their key stakeholders. They shouldn't have to spend time calling up five friends to find out if they are getting a good price or not. Bid Ops shows procurement teams what they should be paying and gets the whole process out of email-and-spreadsheets, which lets buyers focus on more important aspects of their job."

More on ncarol.com

• Power Business Solutions Announces Joint Venture with EIG Global Trust to Deliver Data Center Financial Solutions
• Scoop Social Co. Partners with Fairmont Hotels & Resorts to Elevate Summer Guest Experiences with Italian Inspired Gelato & Beverage Carts
• Buildout Launches Native Email Marketing Feature, Expanding Its End-to-End CRE Platform
• North Carolina Constitutional Economist, Laurie Thomas Vass, Improves Global Ranking on Social Science Research Network (SSRN)
• New Saxophone Prize Honors Astronaut Ronald E. McNair, First To Play Sax In Space

That's one explanation for why Bid Ops has seen a surge of interest from manufacturing firms, growing over 300% in the past year. With a roster of customers including Bel Brands, Autotruck, Dover Chemical and Kurita Water, Bid Ops predictive sourcing driven by AI is turning heads in industries that have long embraced an Excel-based approach to sourcing.

Jean-Michel Dos Remedios, a sourcing leader at Bel Brands, said of Bid Ops capabilities: "In the procurement world, time is of the essence. Bid Ops has really helped to kickstart our digital transformation journey by giving us our time back through leveraging data and AI. These innovations make us faster, and the faster we get, the more we can accomplish, and the more successful we can be."

Bid Ops predictive sourcing platform offers a complete RFP, RFQ, RFI, Reverse Auction, and Spot Buy capability complete with KPI dashboards for tracking a team's savings pipeline alongside automated reporting on supplier diversity and sustainability. The platform includes a messaging app and document storage to get all supplier communication out of email.

"It's the only platform where you can run a fully autonomous RFQ with only a few clicks," says Bid Ops CEO Edmund Zagorin. "Sourcing teams are famously overworked. Many sourcing teams put in heroic efforts during the pandemic to secure enough PPE while at the same time re-negotiating office leases and corporate travel agreements. Now that businesses are re-opening, it's clear that sourcing teams need additional resources to continue delivering peak performance. That's why customers are turning to Bid Ops."

More on ncarol.com

• Building a $145M AI-Powered Marine Platform as Listings Surge, Global Expansion Begins, OTH Shares Trade at a Discount: Off The Hook YS (N Y S E: OTH)
• American Disabilities Act Must Protect Against Forced Psychiatric Commitment and Treatment
• 2025 Top Lawyers - ELA Awards by Expert Law Attorneys
• Top Law Firms In 2025 - Expert Law Attorneys
• Best Personal Injury Attorneys Of 2025 - ELA Awards

SIG's Procurement Technology Summit coincides with Bid Ops welcoming new team members, including long-time collaborator Eric Buras as Head of Machine Learning and Data Science. "Our engineering team is really excited by the results our customers are seeing," says Eric. "When you can see the price paid variation for the exact same item, it becomes clear that the savings opportunities are quite compelling."

About Bid Ops

Bid Ops is the only predictive sourcing software built to keep your business ahead of the market. Your procurement team can leverage Bid Ops predictive AI to drive 2-5x more savings by getting better quotes faster. Learn more at www.bidops.com