Artificial Intelligence
Verusen and NTT DATA GSL Form Business Alliance to Transform SAP Materials and Inventory Management Deployments Through AI
ATLANTA and TOKYO, Feb. 17, 2021 (GLOBE NEWSWIRE) — As manufacturers and businesses ramp up the digital transformation of their supply chains to meet challenging times during the pandemic, Verusen, the Atlanta startup that leverages artificial intelligence (AI) and machine learning (ML) to build the intelligent, connected supply chain, and NTT DATA Global Solutions Corporation (NTT DATA GSL), a leading SAP partner in Japan, providing digital transformation and information technology services worldwide together with NTT DATA Group alliance, today announced their new business alliance. The collaboration utilizes Verusen’s cloud-based AI platform and real-time inventory data management capabilities to strengthen and optimize customers’ existing SAP supply chain and inventory management implementations.
Verusen’s purpose-built AI platform provides a supply chain solution that transforms material data and inventory optimization to bring “material truth” to organizations. By analyzing and visualizing the inventory information stored at different locations, the solution helps clients reduce their inventory, increase working capital and prevent opportunity loss due to either excess or deficiency of inventory. The relationship marks the debut of the Verusen cloud platform in the Japanese market.
“This alliance will help organizations tackle the growing need for more intelligent supply chain management infrastructures that can respond efficiently to changes in the market and society,” said Motonobu Isoya, President and CEO of NTT DATA Global Solutions. “Our SAP users will benefit significantly from the integration of Verusen’s AI supply chain platform to help harmonize and optimize material and inventory data to realize maximum business results.”
“Today, with companies’ technology infrastructures stretched to their limits to meet the growing demand for their offerings and products, it is critical that global organizations implement intelligent and agile supply chain infrastructures to ensure long-term business success,” said Paul Noble, Verusen’s founder and CEO. “By partnering with NTT DATA Global Solutions, we will be able to help their SAP users significantly improve their business productivity and help quickly address ever-changing supply chain challenges using our cloud-based AI platform.”
Recently, Verusen was named a Top-40 Innovative Technology Company by the Technology Association of Georgia (TAG), and Verusen’s Paul Noble was named a 2020 “Pro to Know” by Supply & Demand Chain Executive magazine.
For more information about the services and solutions available from the Verusen/NTT DATA GSL alliance, visit here.
About NTT DATA Global Solutions
NTT DATA Global Solutions Co., Ltd. was established in July 2012 to meet the growing demand for system globalization as Japanese companies expands globally. As a member of the “SAP Global Support System” of the NTT DATA Group, the company is looking to integrate the SAP solutions and business know-how that were distributed to the group companies NTT DATA, company provides wide range of services from the information system planning consulting, implementation of the ERP system to maintenance operation and expansions of systems. As a core company of the SAP business in the NTT DATA Group, the company become the strategic business partner for various clients by providing a wide range of services as a one-stop service.
About Verusen
Verusen is a Supply Chain Intelligence company focused on materials management that uses AI to provide complex global supply chains material truth for data, inventory optimization, and procurement intelligence. The company’s platform harmonizes disparate material data across many ERP instances/systems while providing trusted data across the enterprise to reduce inventory costs and build trust in production uptime. The result is a data foundation organizations can trust to fuel digital transformation and support related Industry 4.0 initiatives. The company is based in Atlanta at the ATDC. Visit verusen.com for more information, or follow us on Twitter at @Verusen_AI and LinkedIn.
PR Contact:
Greg Cross
PenVine for Verusen
[email protected]
+1 925.413.5327
Artificial Intelligence
Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation
Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation 32% of professionals in finance have seen whistleblowers victimized behind their back or to their faceJACKSONVILLE, Fla., May 21, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.
Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “‘might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:
59% have seen whistleblowers subsequently left out of important decisions 33% have seen whistleblowers moved to a different team 32% have heard whistleblowers called derogatory names behind their backs or directly to their faceWhen asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch”, said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”
Jennifer Griffith, whistleblower who was called a “traitor”, said: “Choosing to blow the whistle involves more than just the desire to right a wrong. It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it. It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat”, said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
Georgina Hallford-Hall, CEO of Whistleblowers UK, said: “Too many organisations talk the talk but fail to engage with whistleblowers often at great cost to both. Technology used properly can remove the fear that both organisations and whistleblowers have about dealing with whistleblowing because it removes the person and focuses on the concerns or malfeasance. WhistleblowersUK are calling on the UK government to introduce an Independent Office of the Whistleblower to protect everyone from discrimination setting standards that end stigmatisation and discrimination making it safe to speak up.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
Notes to Editor
Methodology
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 – 05/07/24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
For more information, please contact:
Fight or Flight for [email protected] / +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
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Artificial Intelligence
ThroughPut.AI and Inteligistics Announce Strategic Partnership to Transform Agriculture and Fresh Produce Supply Chains
The Partnership focuses on driving maximum optimization of both the supply chain and interwoven cold chain to improve sales, profit margins, output, safety, and traceability.
PALO ALTO, Calif., May 21, 2024 /PRNewswire/ — ThroughPut Inc., the industrial AI supply chain Decision Intelligence pioneer, and Inteligistics, the leading digital visibility solutions provider for perishable supply chains, today announced a strategic technology alliance to accelerate profitability for the sales of perishable goods. This area is typically plagued by volatile prices and volumes, poor predictions, limited supply chain visibility, and excessive product spoilage. This leads to high rejection and discount rates, and avoidable lost margins. ThroughPut.AI, in collaboration with Inteligistics, will enable growers, suppliers, carriers, distributors, and retailers to significantly improve the efficiency of their supply and cold chain operations, thus ensuring that all fresh products – ranging from berries and vegetables to fish and meat – is sold profitably on-time and in-full for faster, fresher and safer delivery with full supply chain visibility.
Mutual customers introduced ThroughPut.AI and Inteligistics as complementary partners due to ThroughPut.AI’s patented, Gartner-ranked comprehensive Supply Chain Analytics & Decision Intelligence software, with Inteligistics’ industry-leading expertise in supply chain performance, productivity, and sustainability, where both have yielded high-value outcomes for customers, their consumers, and owner-investors across the globe. The two companies also share a common goal of minimizing waste, shrink, unfilled orders, and lost sales.
“We’re delighted to partner with Inteligistics as we look to expand our capabilities for our clients in the critical Food and Agricultural industry. Food and AG supply chains suffer from siloed legacy point solutions that don’t address today’s supply chain networks’ complexity and volatility. To overcome these modern Food and AG supply chain challenges, already existing but disparate data must be tapped into, stitched together, analyzed, visualized, and optimized with Industrial-grade AI for actionable recommendations and better results,” explained Seth Page, COO and Head of Strategic Partnerships of ThroughPut Inc. “By partnering with Inteligistics, we can provide customers with our unprecedented supply chain visibility, actionability, predictions and recommendations into customers’ cold chain operations as part of their larger end-to-end supply chain networks. This allows customers to leverage data at every step of the way to make the right produce available at the right place, at the right time, to the right customer, at the best price, in the correct quantities, and in the safest traceable manner possible.”
“Our partnership with ThroughPut.AI will empower agricultural producers, and buyers to leverage data for timely, intelligent decision-making, while accelerating margins,” said Rao Mandava, CEO and Chairman at Inteligistics. “Our customers will now have a unified common operating picture for a single source of truth for all their perishable inventory, enabling them to reduce risk, increase safety, and unlock new growth opportunities. The data is also available for our recently unveiled 1-Click FSMA 204 Traceability reporting solutions. All our supply and cold chain solutions work with data from a company’s legacy data platforms, including ERP, WMS and procurement systems, eliminating the major operational disruption associated with platform replacement.”
Joint Capabilities
Bringing together ThroughPut’s patented and award-winning AI-powered Supply Chain Advanced Analytics and Decision Intelligence solution with Inteligistics’ innovative supply and cold chain performance improvement capabilities will empower their customers to drive additional value in many key areas including the following:
Fill Rate: The joint solution will provide customers with an innovative fill rate model that will enable them to:Dynamically allocate products when farm and producer outputs vary, thus ensuring timely demand fulfillment.Proactively forecast customer demand, pricing, and volumes, as well as leveraging advanced analytics to balance supply with demand on a real-time basis.Tailor fill-rates based on customer segmentation, helping customers to prioritize higher contribution margin product mixes with the best on-time and in-full (OTIF) rates to maximize returns.Scheduling: The combined solution will empower suppliers and buyers to optimize loading facility and cross-docking queuing, slotting, scheduling, loading and usage via:Data-driven recommendations for ideal order fulfillment time-slots based on customer segmentation, available inventory, and priority-based delivery of in-demand products across the supply chain.Ensure necessary labor, docks and slots are available for loading on time to further enhance operational efficiency, greater throughput, higher output, and additional revenue and profit generation.Streamline the scheduling process and maximize order fulfillment while minimizing delays, idle time, and site traffic.Rejection and Discount Rates: Leveraging data inputs from Inteligistics and ThroughPut.AI will deliver fresh Food & Agriculture specific capabilities, including:Actionable insights and recommendations to optimize end-to-end supply chain operations while maintaining traceable product quality and food safety, for a greater bottom-line with enhanced regulatory compliance.Minimize rejection factors by analyzing data on product temperatures, sales history, and movements across supply chain networks to predict the likelihood of rejection or discounts, while reducing rejection rates and discounts in shipments that are fully traceable and quantifiable.Minimize waste and discounts to consumers by managing the inventory from DCs to stores using predictive shelf life and First Expire/First Out distribution.PR Contact
Tina Jacobs
[email protected]
About ThroughPut:
ThroughPut.AI is a Silicon Valley-based Supply Chain AI leader that puts Industrial material flows on Autopilot by leveraging existing Enterprise Data to achieve superior Business, Operations, Financial and Sustainability Results. ThroughPut.AI’s patented, Gartner-recognized AI-powered Supply Chain Analytics and Decision Intelligence software platform predicts Demand, reorients Production Capacity, reassigns Warehouse Space, and reorders Materials optimally, so businesses minimize overpromising and under-delivering, and maximize for their desired outcomes. As a rapid diagnostic platform, ThroughPut.AI both improves material flow and free-cash-flow across the entire end-to-end value chain far faster than leading contemporary and legacy solutions could ever imagine. The founding team is led by seasoned serial entrepreneurs with real-world AI, Supply Chain, Manufacturing, Transportation and Operations experience, from the shopfloor to the top-floor, at leading Fortune 500 Industrial Companies & pioneering Enterprise Technology companies that have impacted the world.
To learn more about ThroughPut Inc, visit our website today.
Additional Resources:
Learn more about ThroughPut Food and Beverage Solution OfferingsFor more information about ThroughPut, visit ThroughPut Resource LibraryRead the ThroughPut Blog and access latest ThroughPut Press CoverageAbout Inteligistics:
Inteligistics is uniquely placed in perishables industries using Silicon Valley technology and process improvements to bring digital transformation, turn Big Data into clear actions through AI/ML, and deliver high value improvements to supply chain and cold chain performance for perishable commodities. The resulting increase in productivity and reduction in critical cut-to-cool times, resources help meet sustainability goals. Using IoT, off-the-shelf wireless hardware, and proprietary cloud-based applications, Inteligistics develops custom solutions and provides an end-to-end integrated supply chain platform and standalone applications that improve quality, throughput, increase profits and deliver high ROI on the critical process of moving product from field to consumer. Visit inteligistics.com and linkedin.com/company/inteligistics.
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Artificial Intelligence
Lukka Acquires Coinfirm bringing Audited Data to Blockchain Analytics, Compliance, and Investigations
NEW YORK, May 21, 2024 /PRNewswire/ — Lukka, the global leader in enterprise digital asset data and software solutions, proudly announces its acquisition of Coinfirm, a top-tier European based blockchain analytics software company. This acquisition deepens Lukka’s existing capabilities to now support a comprehensive set of on-chain analytics of compliance, AML, sanction screening, entity due diligence, and investigations business needs. The new combined offering utilizes the industry’s only audited, institutional grade datasets at a time when trust in the quality and accuracy of data has become essential.
Since 2016, Coinfirm has been at the forefront of digital asset transaction analysis and monitoring, specializing in compliance, AML (Anti-Money Laundering) detection, and advanced blockchain analytics. Lukka’s enterprise focused approach integrates Coinfirm blockchain data into its platforms with conventional financial information, and maintains existing trusted standards in the form of an AICPA SOC Operational risk controls. Coinfirm was a natural addition to Lukka’s existing product suite due to their prior adherence to AICPA SOC 2 standards, audited by a Big 4 accounting firm.
“Our customers have stated very clearly that they want data that they can trust and that they have too many overlapping vendors, which creates inefficiency and unnecessary spending. We spent years of due diligence across hundreds of businesses and customer feedback discussions and very carefully selected Coinfirm.
Ultimately, the decision was easy – the team that they have built is incredibly talented and their data quality is best in class. At Lukka we know data and the data behind their on-chain analytics and investigative products was the most comprehensive and highest quality. Lukka is a single provider for all of your crypto data needs.” said Robert Materazzi, CEO at Lukka.
The integration of the Coinfirm team and products with Lukka is not just an expansion of services but a strategic move towards offering an unmatched range of on-chain and off-chain data solutions. In addition to Lukka’s commercial strategy, the story doesn’t end with this acquisition. Lukka is continuously assessing opportunities to partner and work with great teams across the world.
About Lukka
Founded in 2014, Lukka serves the most risk-mature businesses in the world with institutional data and software solutions. As a global company, headquartered in the United States, Lukka bridges the gap between the complexities of blockchain data in a global crypto ecosystem with traditional business and reporting requirements.
All of Lukka’s products are created with institutional standards, such as AICPA Service and Organization Controls (SOC), which focus on data quality, financial calculation accuracy & completeness, and managing technology operational risk. Lukka has obtained AICPA SOC 1 Type II and SOC 2 Type II Audits, an ISO/IEC-27001 certification, NIST Cybersecurity Assessment, and continues to lead the industry with best in class technology risk governance.
Our global team looks forward to partnering with you to solve your data challenges.
For information about Lukka, visit lukka.tech.
Media Contact:Rafal [email protected]
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