Bath, UK (June 25, 2019) – Claritum, together with Setsquared and the University of Southampton Business School, has secured an Impact Acceleration Award* focused on using AI Data Analytics to identify issues, gain better spend visibility and make faster business decisions.
Claritum will benefit from the research insight of the Business School applied to advance our analytics offering focused on business efficiency. Researchers, in the Business School, will benefit from a funding boost on using AI, Machine Learning and Big Data Analytics to procurement processes, thanks to this Impact Acceleration award.
Tahir M Nisar PhD, Southampton Business School, said: "This award will enable the world-leading research being conducted at the University to make a real difference in addressing some of the major challenges facing Procurement groups." He added, "The research team will be looking to achieve a step-change – giving researchers access to Claritum's extensive knowledge base and the tools and inspiration to make important contributions towards Procurement data analytics."
"We're very proud to have been successful in obtaining this award," said Prof. Rick Hillum, Executive Chairman at Claritum. "We have ambitious plans for taking our AI and Data Analytics capabilities forward, with further real-world practical business applications. Southampton's Business School can help us to achieve this."
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.
Southampton University is a research-led organisation and ranked amongst the top 100 universities globally. They are a founding member of the prestigious Russell Group and their Innovative research is supported by world-renowned academics.
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.
* UKRI Impact Acceleration Account (IAA) funding from the Economic and Social Research Council