LeanLinking, an innovator in procurement excellence software, and Craft, the leading supplier intelligence network, have teamed up to launch an industry-first tool that takes supplier negotiation to the next level.
LeanLinking’s DEALS solution brings everything frontline professionals need to know into one AI-based solution that guides them through faster, more effective negotiations with vendors. And paired with Craft’s powerful repository of financial, operational, and market-related supplier intelligence, DEALS is able to automate analytics and provide actionable insights for powerful negotiation strategies.
“Preparing and executing mid-to-high complexity negotiations is a foundational challenge in procurement. Companies regularly leave between five to six percent of value on the table,” said Matthias Toepert, Chief Growth Officer at LeanLinking.
“DEALS addresses this with built-in best practices, benchmarks and structured approaches. And combined with Craft’s unparalleled depth and breadth of supplier insights, more negotiations can be delivered faster and with higher impact.”
By leveraging both LeanLinking’s DEALS with Craft’s best-in-class data ecosystem and proprietary machine learning technology, procurement professionals can maximize value in supplier negotiations while also maintaining a strong partnership with their suppliers.
"This is a great opportunity to take back control of supplier negotiations and drive consistency across organizations," said Matt Keyes, Head of Craft, EMEA.
LeanLinking will present DEALS at Digital Procurement World (DPW) in Amsterdam with Patrick Foelck, Head of Insights & Enablement - Global Procurement at Roche, on Wednesday, September 21 at 11am. Craft’s CEO and founder Ilya Levtov will present on Thursday, September 22 at 3pm as one of three finalists in the DPW Growth Stage competition.
“We are excited to partner up with Craft. Our clients’ procurement teams will get 24/7 access to automated supplier analytics based on the latest supplier data, market intelligence, and risk insights. For the first time, users can benefit from better negotiation strategies and higher impact via truly automated analytics and actionable advice at their fingertips,” said Toepert.
LeanLinking is the leading relationship management solution that helps procurement teams improve the way they are collaborating with their supply base and build true customer-of-choice relationships. LeanLinking’s Relations and DEALS platforms combine structured workflows with in-built subject matter expertise and automated analytics to build better strategies for effective supplier governance and sustainable supplier negotiations.
Craft is the leading supplier intelligence platform that helps supply chain and procurement professionals discover, evaluate, and monitor suppliers to help build an unbreakable supplier network. Craft provides a comprehensive and reliable supplier data foundation with 400+ data points on suppliers around the world, as well as actionable insights through a Risk Hub, N-Tier Mapping, proactive supplier monitoring and alerting, and a collaboration workspace that allows organizations to better identify opportunity, mitigate risk, and prevent disruption.