NEWS IN BRIEF Company recognition TrueCommerce was recognized by Gartner Inc. as a Challenger in the May 2022 Magic Quadrant for Multienterprise Supply Chain Business Networks (MESCBNs). The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute. “To us it’s exciting to secure the Challenger position in this foundational research – four years in a row,” said Mike Gross, SVP of Product, TrueCommerce. “Over the last year, we have made significant investments in our technology and people, expanding our customer base by 40 percent as a result. We also have exciting new product innovations underway including the utilization of APIs and leveraging our universal adapter to broaden both internal and external integrations as well as the greater utilization of data through artificial intelligence/machine learning.” Gartner considers MESCBNs to be foundational technology for highermaturity organizations.
New capabilities Plex Systems has announced new machine learning capabilities for Plex DemandCaster Supply Chain Planning (SCP). “The days of steady and dependable supply chains that enable long-term lean and just-in-time replenishment to manage costs are behind us. Businesses now understand that planning and forecasting must include the assumption of disruption and rely on data to navigate this new normal,” commented Ara Surenian, Vice President, Product Management at Plex Systems. “Adding machine learning to Plex DemandCaster Supply Chain Planning empowers customers to overcome supply planning challenges and digitally transform their planning. By infusing the sales forecasting process with machine learning, customers can bring in a wealth of additional data as an input to the forecasting process that a human nor traditional statistical forecasting methods can discern. These additional inputs are used to help calculate and recalibrate the process to improve forecast accuracy.”
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Delivering success Shipster has formed a partnership with location technology company what3words. This is good news for Shipster clients who want to give their customers an even more seamless delivery experience, and good news for eCommerce businesses looking for a shipping integrator that will incorporate their customer what3words locations. The partnership will enable online retailers to automatically include their customer’s what3words address in their delivery information and print it onto the shipping label for the courier to use. This integration will remove the need for phone calls from lost delivery drivers going to complex locations, and means deliveries arrive at the precise location faster and more efficiently. Drivers will no longer have to ask customers for additional directions, optimizing the delivery process and providing a smoother customer experience. Speaking from a technical standpoint, Tony Cheetham, Shipster Founder & MD commented: “Working with what3words has been very easy and the technology has been simple to add to our platform. It’s a feature that will make deliveries more successful the first time around for our clients with customers in remote, complex or unique locations.”
Prompt payments Global-netting platform, Troc Circle, is launching a solution to unlock capital stuck in global supply chains. Powered by the ‘Plug-and-Play’ technology of embedded-finance providers, Weavr, businesses will soon be empowered to settle invoices up to ten times faster with the new streamlined process. Supply chains are often costly and complex but with its new solution, Troc Circle will ensure that businesses get paid through the netting of invoices, in an open network - regardless of the business’ accounting software - avoiding hold-ups in the payment process. Following the launch, invoices can be settled quickly and at the live-currency market rate, allowing control over cash flow thanks to an 80-per-cent-lower processing cost. Troc Circle, an established innovator in the world of global supply chains, initially launched its circle-netting solution in 2019. However, it was quick to recognize that this covered only three per cent of open invoices, whereas ‘chain netting’ reaches around 70 per cent. By partnering with a likeminded innovator, Troc Circle benefits from Weavr’s comprehensive Financial Plug-in, which provides the full technical and legal framework required to onboard merchants and sellers, while also enabling payments to be processed via virtual cards.
