LevaData launches Leva, "world’s first" AI advisor for strategic sourcing and procurement
Privately-held LevaData has announced the debut of its flagship product, Leva, which it says is the world’s first AI advisor for strategic sourcing and procurement.
In a statement, the company said Leva is purpose-built for strategic supply chain and procurement professionals and uniquely combines multiple AI technologies with intelligent assistance to drive savings throughout the supply chain.
Leva is designed to provide supply chain and procurement professionals with maximum purchasing leverage for a given situation.
Leva draws on a proprietary ontology of over 40 negotiation levers, used in thousands of sourcing events, to recommend the most effective lever and its use – in the right context and sequence – to dramatically improve negotiation strategy and outcomes.
This application of machine learning has been designed to result in an optimised negotiation process that includes evaluation of response behaviour, an ongoing search for value-based outcomes, and the enablement of semi-autonomous or even autonomous sourcing events.
“We’re incredibly proud to announce Leva, not only because it is the world’s first AI advisor for cognitive sourcing, but because it leapfrogs existing solutions that are focused only on procurement and sourcing process automation,” commented Rajesh Kalidindi, Founder and CEO of LevaData.
“Leva is revolutionary because it leverages the true power of AI, including crowd-sourced intelligence, predictive cost modeling, and targeted evaluation of risks and opportunities, for the kind of strategic decision support that empowers sourcing and procurement functions to drive sustainable competitive advantage.”