SGS Maine Pointe Partners with dSilo to Provide AI-Driven Contract Performance and Insights
A new digital contract journey will help SGS Maine Pointe clients capture greater value, reduce costs, and automate the process of capturing and understanding contract data
Boston, Mass., August 09, 2022 -- Global supply chain and operations implementation consulting firm, SGS Maine Pointe, a member of the SGS Group, announced today that it has partnered with dSilo, a leading enterprise AI company transforming how businesses extract contextual insights from business contracts and financial documents. Using dSilo’s deep-learning AI contract value management platform, SGS-Maine Pointe will be able to build on their proven Total Value Optimization™ (TVO) approach by helping clients discover and capture value, reduce costs, and retain irreplaceable institutional knowledge otherwise lost to staff turnover.
“We are thrilled to be partnering with the dSilo team to offer our clients cutting edge, AI-generated insights that focus on value creation for the supply chain,” said Nathanael Powrie, EVP Data Analytics at SGS Maine Pointe. “We see a tremendous opportunity to help our clients process, and derive hidden value from, unstructured data received from their end-to-end supply chain.”
With the dSilo solution, SGS Maine Pointe will be able to greatly enhance the enterprise contract digital journey by easily accommodating contracts and spend data that often exists in multiple locations and formats including paper, eliminating compliance issues and value leakage, and automating commerce with self-executing smart contracts.
“The supply chain, including suppliers, transportation providers, and customer invoices, have very high variability and take a lot of manual data entry for clients to process,” said Powrie. “With deep learning AI technology, we can contextualize intelligence that provides information that can help our clients achieve new benefits.” Just recently, SGS Maine Pointe was able to leverage this potential to process over 350,000 supplier invoices for a client project that provided critical visibility into SKU level information, to help better understand patterns in pricing and volume.
As opposed to traditional contract management processes or older digitization technologies such as OCR, dSilo’s AI-based process automates the process of converting contractual data to smart contracts and derives key terms and clauses to derive deeper insights. In addition, the AI technology provides actionable benefits, identifies and quantifies risks often associated with contracts, and reduces time required for validation from days to minutes.
“Our proprietary deep-learning AI, which requires minimal human intervention, detects value leakage, and may present opportunities such as missed discounts or trade promotional rebates. This could lead to a significant increase in working capital savings across spend categories,” said Sharad Malhautra, dSilo CEO and cofounder. “Enterprises deploying dSilo’s AI platform can discover cost reductions and lower compliance risk almost immediately — while ‘future proofing’ their business by retaining contextual contract knowledge within the enterprise over time.”
Contract review and analysis of existing and new contracts to derive deep insights and greater value is a foundational component of SGS Maine Pointe’s TVO approach. The powerful combination of dSilo’s AI-based digital contract journey, and SGS Maine Pointe’s industry and subject matter expertise in maximizing contract value, will provide clients with the potential for actionable, measurable value, a superior contract environment, and greater opportunities to continuously improve their supply chains.
About SGS Maine Pointe
SGS Maine Pointe, a member of the SGS Group, is a global supply chain and operations consulting firm trusted by many chief executives and private equity firms to drive compelling economic returns for their companies. We achieve this by delivering accelerated, sustainable improvements in EBITDA, cash, and growth across their operations, procurement, and logistics. Our hands-on implementation experts work with executives and their teams to rapidly break through functional silos and transform the buy-make-move-fulfill supply chain to deliver the greatest value to customers and investors at the lowest cost and risk to business. We call this Total Value Optimization (TVO)™.
SGS Maine Pointe’s engagements are results-driven and deliver between 4:1-8:1 ROI. We are so confident in our work and our processes that we provide a unique 100% guarantee of engagement fees based on annualized savings. www.mainepointe.com
We are SGS – the world’s leading testing, inspection and certification company. We are recognized as the global benchmark for quality and integrity. Our 96,000 employees operate a network of 2,600 offices and laboratories, working together to enable a better, safer and more interconnected world. SGS has been delivering ESG and sustainability solutions and services to clients for the past 25 years and has been a carbon neutral company for the past seven years.
dSilo’s deep-learning AI platform seamlessly automates existing compliance processes and drives performance by transforming enterprise contract management between businesses, suppliers, and customers. Operating at speed and scale with minimum human intervention, it delivers accurate extraction of contract terms, revealing valuable insights, driving automated actions to recover lost contract value, and achieving rapid reductions in cost and compliance risk. For more information, visit www.dsilo.ai.