Chain IQ launches novel Smart Joint Sourcing App

Zurich, July 30, 2018

Specialized in digitized, strategic procurement management, Chain IQ is revolutionizing its own industry. As the first of a series of new developments from its in-house "Innovation & Digitalization Lab" the company brings the Smart Joint Sourcing App to market.

Chain IQ which operates in four continents, defined the "Digitalization Roadmap 2020" as part of its future-oriented strategy which various initiatives are implemented along. The dedicated established "Innovation & Digitalization Lab", is developing and implementing intelligent, digital, analytical and artificial intelligence products, services and solutions.

Out of this lab a world novelty now proceeds: the adaptive Smart Joint Sourcing App, built on an algorithm, which significantly optimizes customers' purchasing planning by means of "predictive analytics" by bundling their sourcing calendars and their volumes, and orchestrating the tenders. Thus, the app creates better terms and generates higher savings. Chain IQ runs Smart Joint Sourcing specifically for its major customers with an annual indirect spend starting at 200M.

Further solutions out of the "Innovation & Digitalization Lab" around big data, new digital platforms or interaction with customers and suppliers via intelligent marketplaces are already in development.

Since its inception in May 2014, Chain IQ has been following a progressive course accompanied by steady growth. Based on the managed spend volume the enterprise is meanwhile ranked as one of the top procurement companies globally, serving more than 30 international, well-known clients across a multiple of industries in more than 20 countries.

Chain IQ Group | Corporate Communications

Information/Contact:

Elisabeth Ehrsam, Head of Public Relations and Public Affairs to the Chairman,

Chain IQ Group, elisabeth.ehrsam@chainiq.com

This media release is also available at chainiq.com/media-releases

Chain IQ is an independent, global service company providing strategic, tactical and operational procurement for its clients. Chain IQ operates from its main centers - Zurich (headquarters), New York, London, Singapore, Mumbai and Bucharest - and is currently servicing more than 20 countries (including China, Hong Kong, Japan and Australia).