New solution leverages machine learning to accelerate the collaboration process by streamlining data transfers and agreement management between business partners
ATLANTA, USA and COLOGNE, Germany, Jan. 18 2022 – gicom, a leader in the optimization of the relationships between trade, wholesale distribution, cooperatives and the consumer goods industry, today presented a new collaboration solution designed to automate the agreement lifecycle process. This machine-learning powered application helps CPGs and retailers mitigate redundancies and reduce common communication errors, in the agreement processes between business partners.
Digital transformation is taking over the retail industry, not only on a consumer-facing level but throughout every decision a retailer makes. In fact, McKinsey found that 76% of retailers anticipated improving omnichannel integrations in 2021. This transformation starts with partner collaboration to ensure a smooth interaction between management processes, corporate decisions, value chains, agreements and communication overall.
In response, gicom presented its collaboration solution, which allows retailers and their partners to coordinate agreements via a completely digitized process that automatically stores all data and documents related to the deal on a cloud-based platform. Now, both parties can collaborate on the agreement simultaneously, providing a single source of truth that improves the speed of agreements by reducing potential inefficiencies. With the machine learning algorithm, the data related to the agreement can be seamlessly transferred to any ERP system, further simplifying the collaboration and reducing maintenance efforts.
“With true collaboration comes opportunities for growth, flexibility and success,” said Hans-Jakob Reuter, a member of the executive board, gicom. “The collaboration solution is designed to help both retailers and consumer goods supplier simplify the agreement lifecycle process, but it doesn’t stop there. Once the partnership is established the collaboration solution can help retailers test scenarios within the parameters of the agreement to discover new opportunities to improve profitability.”
A 100% digitized approach to agreement lifecycle management greatly improves visibility and uncovers opportunities across the value chain. Other benefits generated by the collaboration solution include:
- Minimizing unforeseen risks between business partners through increased transparency
- Uncovering competitive advantages by strengthening agreements
- Reducing the time and money spent detecting and solving problems in manually transmitted agreements
- Limiting access to sensitive data, guaranteeing private information is kept confidential
- Ensuring up-to-date performance insights and KPIs for every partnership through an interactive dashboard
Reach out to gicom to schedule a meeting today.
About gicom AG
For nearly 25 years gicom has successfully been developing software solutions for trade and the consumer goods industry. With more than 80 employees, gicom supports customers in over 16 countries and in all innovations mainly focuses on the optimization of processes in the relationships between trade, wholesale distribution, cooperatives, co-operations and consumer goods industry. The repeatedly awarded solutions use the newest SAP technologies, such as SAP S/4HANA, SAP Customer Activity Repository, SAPUI5 and SAP S/4HANA Cloud, private edition.
Media Contact
Jenna Jordan
Ketner Group Communications (for gicom)
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