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CIOs: it is time to free your enterprise from vendor shackles

TechradarTechradar · 2y ago
CIOs: it is time to free your enterprise from vendor shackles
Medial

Vendor lock-in can have detrimental effects on organizations, hindering agility, competitiveness, and innovation. ERP software support is a prime example of this, as organizations often feel constrained by vendor maintenance contracts and pressured to adopt vendor-specific upgrades and cloud strategies. These pressures divert substantial IT budgets towards routine upgrades and patching, limiting resources for groundbreaking innovation. Breaking free from vendor support shackles can lead to enhanced security through vulnerability management and personalized support, as well as improved interoperability through tailored integrations and customizations. This allows organizations to optimize resources, remain compliant, and focus on innovation and growth.

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CIOs Feel Heat From CEOs on Generative AI

LivemintLivemint · 2y ago
CIOs Feel Heat From CEOs on Generative AI
Medial

The rise of generative AI is being driven by CEOs, rather than technologists, within companies. This creates a unique challenge for chief information officers (CIOs) who bridge business and technology leadership. CIOs feel the pressure to meet the expectations set by CEOs, while also needing proof of concept to demonstrate the real impact of generative AI. Companies like Microsoft, Google, Amazon, and Apple are investing in generative AI and incorporating it into their products and services. CIOs are responsible for ensuring companies don't get swept away by enthusiasm for the technology, while also prioritizing security and data privacy. Overall, generative AI is seen as a technology space that can benefit every organization.

Enterprise procurement platform Aerchain secures $13 Mn in Series A round

EntrackrEntrackr · 3d ago
Enterprise procurement platform Aerchain secures $13 Mn in Series A round
Medial

Enterprise procurement platform Aerchain secures $13 Mn in Series A round AI-native enterprise procurement platform Aerchain has raised $13 million (Rs 118 crore) in a Series A funding round led by Pavestone VC, along with participation from IndiaMART and other investors. The Bengaluru-based startup had previously secured $3 million in a pre-Series A funding round back in September 2021, co-led by IndiaMART and Season Two Ventures. The fresh funds will be utilized to accelerate its global expansion and enhance AI capabilities as it builds what it terms the "Spend Operating System," Aerchain said in a press release. Co-founded in 2021 by Harsha Kadimisetty and Himavanth Jasti, Aerchain is an AI-native enterprise procurement platform that orchestrates, executes, and advises across the full intake-to-pay lifecycle. The Spend Operating System covers conversational intake and SOW generation, vendor discovery and management, RFQ and auction automation, autonomous negotiation, techno-commercial evaluation, contract management, invoice processing, and payment tracking, all powered by a multi-agent AI architecture trained on each customer’s data. Aerchain says that its "Spend Operating System" is a comprehensive platform designed to transform enterprise procurement from a reactive cost centre into a proactive business driver. Most enterprise procurement teams continue to operate in a reactive mode, trapped in email chains, Excel spreadsheets, and ERP workarounds. Aerchain's Spend Operating System addresses these challenges through a comprehensive three-level transformation, such as eliminating reactive firefighting, where its Spend Orchestration layer automates 80% of operational procurement work, reducing task completion time from days to hours. Aerchain deploys AI agents that prepare analyses, surface benchmarks, draft negotiation playbooks, and accelerate outcomes, enabling buyers to make better decisions faster. Once operational bandwidth is freed, the platform's Spend Intelligence module continuously analyses spend patterns alongside external market dynamics, including commodity movements, contract expirations, and vendor consolidation opportunities, proactively sharing actionable recommendations. Aerchain claims to have been trusted by over 50 global enterprise customers across more than 30 countries, managing $45 billion in spend, and has reduced procurement cycle times by over 50%. The company is supported by Veda Corp Advisors.

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