Aquiire Secures Technology from Zakta to Accelerate Real-Time, Impactful eProcurement Capabilities
Unique visual search, machine learning and collaboration technologies to power ongoing innovations in Aquiire's real-time eProcurement offerings.
CINCINNATI, Sept. 12, 2017 /PRNewswire/ -- Aquiire, Inc., the leader in real-time eProcurement and supplier relationship management solutions, today announced that it has purchased rights to state-of-the-art machine learning and collaborative search technologies from Zakta, a Cincinnati based semantic search company. Under the agreement, Aquiire will have exclusive source code rights, for the procurement space, to embed and further develop Zakta's patented algorithms within the Aquiire real-time procure-to-pay suite. Zakta technologies include capabilities in visual search and discovery, machine learning, natural language processing, unstructured data mining, real-time collaboration and content curation, among others.
Aquiire eProcurement end users will see these technologies translate to an enhanced adaptive guided buying and search experience, broader shopping reach, expanded integration to web and social media product reviews, and a patent-pending "purchase-together" collaborative shopping capability to bring collective wisdom to buying for enterprise teams. Procurement departments will gain the ability to visually analyze spend on poorly structured order data, improve real-time collaboration with existing suppliers and other buyers throughout the organization, and perform supplier discovery, profiling, and market intelligence activities via an intuitive, visual interface. Zakta's machine learning technology and expertise will be leveraged across the procure-to-pay process to continuously enhance spend analysis and optimize the user experience.
"By challenging our team to think differently about procurement and the buyer/seller relationship, we are finding many previously untapped or 'white space' savings and collaboration opportunities for our customers," said Mike Palackdharry, President and CEO of Aquiire. "Zakta's capabilities enable us to accelerate the delivery of unique actionable insights and savings while meeting our requirement that Aquiire solutions are practical and can be implemented without major disruption to an organization."
About the Aquiire eProcurement Suite
Aquiire's intelligent real-time Procure-to-Pay suite brings the convenience and simplicity of the consumer shopping experience to the business user with unparalleled compliance and savings. Aquiire features patented universal search and shopping, machine learning, actionable intelligence and collaborative supplier enablement solutions that optimize buying choices and provide unique insight to procurement departments. Aquiire's best-in-class intuitive user interface (UI) and the exclusive visual shopping tool KlarityTM allow users to instantly refine real-time universal search results across any internal or external catalogs available to them in a single search. The real-time processing of structured and unstructured data also powers advanced capabilities like instant alerts, risk analysis, analytics and price/product compliance enforcement.
About Aquiire, Inc.
We are more than procurement thought leaders and disrupters. We are technology entrepreneurs and innovators. Aquiire's eProcurement platform was developed through real-world partnerships with procurement leaders from some of the largest global enterprises and public institutions. We believe procurement should move as fast as your business and real time matters. Aquiire is MBE Certified and one of several portfolio companies of Vora Ventures, which was recently named the Technology Company of the Year in Cincinnati. More information is available at www.Aquiire.com. Twitter: @Aquiire.
About Zakta, LLC
Zakta taps into the wisdom of teams by bringing together explicit as well as tacit knowledge and expertise from external resources and internal teams to make smarter organizational decisions. The Zakta technology platform integrates a diverse range of technologies including real-time unstructured data analysis, visual search and discovery, content curation, machine learning, natural language processing, real-time collaboration, trust-based social networking, expertise management and dynamic knowledge graphs to enable solutions to leverage the enterprise collective wisdom.
Contact: Paulie Anthony, Director of Marketing
[email protected] | 513/285.8385
SOURCE Aquiire, Inc.
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