CALGARY, Alberta, May 11, 2020 /PRNewswire-PRWeb/ -- Calgary-based logistics software solutions provider, Routeique, and Clear AI, a neutral AI platform based in London, UK, are joining forces to change the landscape of supply chain technology. The two companies have formed a strategic partnership to create AI-driven supply chain optimization solutions for supply chain and logistics companies of all sizes.
Through their partnership, Routeique and Clear AI combine machine learning (ML) and knowledge graph (KG) technology with leading supply chain software. They're providing their customers with strategic, data-driven insights that drive business growth.
The first result of their collaboration is the B2B Product Recommendation Engine, a newly-launched feature of the Routeique cloud-based enterprise Order Portal. The Recommendation Engine helps manufacturers lift sales by making product suggestions to their distributors' and retailers' customers, without ever requiring direct access to the end customer's data. In other words, recommendations respect the distributors' and retailers' ownership of their customer relationships.
Recommendation engines are an effective way to upsell with minimal overhead and are common in the business to customer (B2C) space, notably among major vertically-integrated players like Amazon and Netflix. In the past, implementing recommendation engines has been difficult for business to business (B2B) organizations. Gathering insights about customers farther down the supply chain, let alone upselling or cross-selling products to them, can be extremely challenging. As a result, businesses in the B2B space have not traditionally been able to take full advantage of this powerful tool to increase revenue.
Routeique is currently testing the Recommendation Engine with one of the largest foodservice manufacturers in the world, which specializes in fast-moving consumer goods (FMCG). Early results have demonstrated an 8% sales lift, which can result in an incremental revenue lift in the millions of dollars for commercial users. Several additional organizations across North America will implement the Recommendation Engine in 2020.
"We're able to recommend Product X to Customer Y with incredible uptake, without any party seeing each other's data," says Routeique CEO Mike Allan. "The system can respect all necessary contractual and legal requirements while still providing accurate recommendations as if a direct customer relationship existed."
Moving forward, both organizations will continue to collaborate on tools and technology to benefit their respective customers. Clear AI CMO Tee Ganbold notes, "By working with platforms like Routeique, we are able to access the key logistics data required to increase the velocity of goods through supply chains with actionable, data-driven insights. The recommendation engine is only the first stage of this partnership and we are extremely excited to increase revenue and reduce inventory for businesses."
Companies interested in implementing the B2B Recommendation Engine within their network can contact [email protected].
Routeique™
Routeique makes supply chains seamless. Routeique's software and IoT solutions provide an end-to-end solution for all partners in the supply chain, ranging from order and inventory management to routing & delivery, asset tracking, and settlement.
Clear AI
Clear is on a mission to build the most extensive graph of the global economy ever made to enable an independent trade data and AI platform. We provide value-added data products and commercial insights to our partners as we work towards becoming a global utility. Our goal is to drive transparency, efficiency, and opportunity in markets everywhere, for the benefit of anyone who does business.
SOURCE Routeique Inc
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