Bath, UK (July 22, 2019) – Claritum receives funding to explore the business model for an AI driven Enterprise Marketplace.
The funding will be used for a strategic study focused on using partnerships and innovative funding models to drive the rapid adoption of the Marketplace by buyers and suppliers.
“SETsquared see this funding providing the research focus that is needed to support the business model for Claritum. ,” said Simon Bond, Innovation Director at SETsquared. “Obtaining key data points and user feedback that will support further larger scale innovation grants.”
“We continue to focus resources and investments on the practical application of AI in the Procurement world ” said Prof. Rick Hillum, Executive Chairman at Claritum. “We have ambitious plans for taking our Enterprise focused Marketplace capabilities forward.
This funding, from SETSquared, is part of their Technology Venture funding activity. Drawing together industry and universities in partnerships to explore new business and technology models.
SETsquared is a unique enterprise partnership and a productive collaboration between the five leading research-led UK universities of Bath, Bristol, Exeter, Southampton and Surrey. Twice ranked as the Global No. 1 Business Incubator, they provide a wide range of highly acclaimed support programmes to help turn ideas into thriving businesses.
Claritum’s eProcurement solution streamlines the procurement process. By enabling employees to purchase goods through catalogues easily. While at the same time providing the tools for Procurement to efficiently and effectively manage suppliers into the catalogue; analyse and optimise the cost of goods and services, and apply governance to the overall process.
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