SAN JOSE, Calif., May 16, 2018 /PRNewswire/ -- OpsVeda today announced the release of its Opportunity App Framework, bringing to market a set of Apps that target areas of leakage in everyday enterprise operations. These apps use detailed business rules and data patterns to identify opportunities/risks and assess the value of proactive action. This helps users make targeted efforts towards increasing revenues and reducing costs. Using advanced analytics, the apps unearth unapparent opportunities and pin-point actionable transactions, customers, suppliers and products where such opportunity exists. As companies embark on their digital transformation journeys, this new offering from OpsVeda will play a major role in aligning day-to-day operational objectives to larger business goals.
"Most analytics initiatives provide information to business users after the fact, and then hope for the user's intent, desire and experience to improve business outcomes. Considering the real-time, forward looking execution focus of OpsVeda, Opportunity apps are the tool to shape business user's intent, desire and experience to change business outcomes," said Sanjiv Gupta, CEO of OpsVeda. He added, "The apps' emphasis on dollar impact ensures that user intent at every level is oriented towards core business outcomes. The highly configurable algorithms and unmatched usability will set a new benchmark for what users should expect from digital initiatives. We can finally recapture the 10-20% revenue and margin leakage enterprises see every day, attributed to out of stocks, fill rates, substitutions, penalties, expedites, poor vendor performance, insufficient customer lead times, and more."
The opportunity apps are add-ons that customers can plug-in to OpsVeda's leading Operational Intelligence SaaS platform. They leverage data ingested by the OpsVeda platform and continually reassess operational opportunities and risks as new data arrives. This ensures that opportunity valuation is current and users are always prioritizing activities with the best returns.
Ratheesh Raveendran, product owner for OpsVeda Opportunity Apps explained, "The rapid deployment timelines of OpsVeda platform enable customers to leverage the Opportunity apps in a matter of weeks. The apps, once activated, start sifting through the existing data to provide a dollar prioritized action list. We are confident that customers will see value from day one."
Why is Opportunity Apps a must for Operations teams?
Operations teams deal with a lot of data every day. Many opportunities and risks lurking in this data often go unnoticed because of the high volumes and operational complexity. This results in teams spending their energies on low impact transactions while ignoring the ones that could contribute significantly more to the top and bottom lines. Opportunity apps address the problems in three ways:
- Leveraging in-memory technologies to analyze all of the voluminous data in near real-time
- Assessing the dollar value of each opportunity and helping the user prioritize his/her day based on that
- Providing detailed drill-down for each opportunity so that action is fast and easy
"Amidst the din of daily operations and the focus on keeping the supply chain humming, significant revenue is missed, and avoidable costs are incurred… often impacting a few basis points on the bottom line," said Ratheesh Raveendran. "With opportunity apps this will change. The apps will enable teams to maximize the bottom line while also streamlining supply chain operations. It is two birds with one stone," he added.
OpsVeda is an enterprise software company bringing to market a real-time operational intelligence platform with patented data hub technology and AI. Focused on Operations and Supply Chain, the powerful insight-to-action solutions deliver predictive visibility into opportunities, risks, and process exceptions to business users across order fulfillment, supply, manufacturing, logistics, inventory, and retail functions. OpsVeda customers span the consumer-packaged goods, food and beverage, fashion and retail, pharmaceuticals, manufacturing, and high-tech industries.
Press release distributed by PRLog
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SOURCE OpsVeda, Inc.