Archlet, a Swiss information and communication technology company, develops AI-driven e-procurement software to enhance the intelligent level of enterprise procurement | Top 100 Swiss Innovators

Image source: Archlet

The Swiss information and communication technology company Archlet was founded in 2019. The company is committed to developing AI-driven e-procurement software. This software can provide one-stop procurement management services for enterprises, help users formulate the best procurement strategies, and at the same time provide scenario-based procurement optimization models and procurement negotiation suggestions to improve procurement decisions.

Archlet was co-founded by Lukas Wawrla, Jakob Manz, and Tim Grunow. Lukas Wawrla holds a master's degree in mechanical engineering from the Swiss Federal Institute of Technology in Zurich; Jakob Manz holds a master's degree in logistics, materials, and supply chain management from the Swiss Federal Institute of Technology in Zurich; Tim Grunow holds a master's degree in robotics, systems, and control from the Swiss Federal Institute of Technology in Zurich. All three are members of ETH Juniors.

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In terms of procurement, currently, enterprises still prefer software such as Excel and Outlook to collect and analyze supplier quotes. These tools are simple and easy to use, but there are also many problems: for example, supplier data is scattered, lacking unified management, and difficult to track in real-time; enterprises rely on repetitive manual work to summarize and analyze data, which is time-consuming and error-prone; the entire procurement process and data processing lack compliance and risk control, the data analysis ability is limited, and it is difficult to improve procurement transparency and effectively control costs.

Image source: Archlet

Archlet has developed an AI-driven e-procurement software that can provide intuitive RFX management, intelligent bid analysis, and scenario procurement optimization functions for procurement teams based on a central platform, helping users make the best procurement strategies and reduce procurement costs.

Archlet's software can cover the complete end-to-end procurement process, realizing one-stop procurement management. The software can migrate all enterprise procurement processes from Excel and Outlook to a single, intuitive, and unified platform interface. On this platform, it manages the procurement process from RFX to supplier selection and manages all supply analysis, scoring, and negotiation processes. RFX (Request for X) is a general term for standardized procurement processes in the procurement field, where "X" represents specific requirements at different stages of the procurement process, such as requesting supplier information (RFI), quotes (RFQ), or proposals (RFP). These standardized documents and process designs help procurement parties efficiently screen suppliers, evaluate proposals, and ultimately reach cooperation. Archlet's software can quickly create and initiate RFX on a single intuitive platform interface and invite various suppliers to bid; it supports enterprises to create their own customized bid forms or select from more than 50 templates in the software to design bid forms within minutes; and it supports enterprises to customize the bid scoring system to ensure an unbiased overall evaluation of suppliers' quotes or proposals. At the same time, the software allows users to invite team members to participate in procurement tasks, collaborate on task allocation, and enhance decision-making consensus and objectivity. The software can also automatically track procurement progress, intelligently optimize and continuously standardize the supplier management process, and build the enterprise's own central knowledge center. After the procurement task is completed, the software will also provide detailed and actionable automatic feedback on cost elements based on the price heat map to assist enterprises in continuously optimizing costs.

In addition to procurement intelligence, Archlet's software can also assist enterprises in optimizing negotiation strategies, improving procurement evaluation elements, and providing advice and support for procurement decisions through AI-based procurement analysis and scenario modeling. The software can automatically verify and analyze all supplier quotes and proposals, automatically identify problems such as errors, inconsistencies, and price anomalies, and improve the speed of the procurement process and data quality; at the same time, by deeply understanding cost elements, comparing and analyzing costs, identifying and highlighting the best negotiation opportunities, and improving bid competition efficiency and enterprise negotiation capabilities. The software also supports instant procurement scenario modeling, fully incorporating commercial and non-price factors such as sustainability and supply chain risks to further improve procurement evaluation elements; and through data and scenario analysis, analysis of suppliers' or categories' behavior patterns, and analysis of competitive relationships, it provides a data basis for negotiation strategies to help enterprises develop negotiation strategies.

Since 2019, Archlet has provided services to small, medium, and large enterprises in multiple industries in Europe and the United States, such as PepsiCo, Amy's, Deutsche Bahn, and Gordon Food Service. It has optimized expenditures of over $20 billion, additionally saved up to 15% in financial costs, and reduced 90% of manual work.

In January 2021, Archlet completed an oversubscribed seed round of financing of $2.8 million, led by Senovo and La Famiglia; in September 2021, the company completed a Series A financing of $10 million, led by HV Capital, with follow-on investments from existing investors Wingman Ventures, Senovo, and La Famiglia. In the future, Archlet will continue to improve the usability and intelligence of its software, redefine the procurement process, and ultimately help enterprises reduce procurement costs.

Archlet is an enterprise listed in the "TOP 100 Swiss Startups" in 2022. The "TOP 100 Swiss Startups" brings together the best Swiss startups and growing technology innovation enterprises. It is the most internationally influential benchmark list in the field of Swiss technology innovation. Since 2011, this list has selected 100 of the most groundbreaking and market - promising Swiss innovation enterprises and 25 Swiss growing enterprises with the most unicorn potential nationwide in Switzerland every year, covering fields such as life sciences, engineering machinery, robotics, information and communication, low - carbon technology, and food technology. The "TOP 100 Swiss Startups" and its series of brand activities are iconic activities in the Swiss innovation ecosystem, representing the highest level of Swiss innovation and the forefront of international investment and financing.

Yiming Technology is the Chinese authorized cooperation partner of the "TOP 100 Swiss Startups", responsible for the operation and promotion of the "TOP 100 Swiss Startups" in China and assisting the list projects in business cooperation with China. As an operator of Sino - European (Swiss) technology innovation investment and industrialization, Yiming Technology provides investment and financing and business development services for the two - way cooperation between Swiss innovation and Chinese industries and conducts equity investment business.

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