Intercompany data automation company BackboneAI has introduced a new product suite called “Accelerate,” which will bring greater efficiency and transparency to supply chains. Accelerate transforms supplier-customer relationships through real-time data synchronization, fast API connectivity, and regulatory integration, leading to increased operational efficiency in enterprise systems.
Rob Bailey, the CEO and founder of BackboneAI, explained that lack of visibility across supply chains is a serious issue – caused by the absence of real-time integration between various data sources and applications within and between companies. This delay in updating data creates friction within supply chains as downstream companies are forced to work with partial or outdated data.
“BackboneAI is the first artificial intelligence (AI) platform to collect data within and between organizations, building frictionless data networks through intercompany automation, a completely new category,” said Bailey. “The company makes supplier and customer data smarter by using AI to integrate product data from a wide range of sources, both within and beyond a company.”
BackboneAI ingests data from multiple sources, such as product availability, product shipment, compliance, and regulatory standards. It then transforms these individual data streams into a unified, real-time data layer that synchronizes different data systems. With increased data coverage, vendors can make more informed decisions and better manage the product flow to their end-users with more significant data visibility and speed to supply chain companies.
COVID-19 has been another speed bump to supply chains. Bailey explained that the pandemic had forced companies to compress a decade of supply chain transformation into six months, leading them to opt for platforms that provide a greater return on investment than costly enterprise resource planning (ERP) upgrades.
Consequently, BackboneAI witnessed tremendous demand as stakeholders managing supply chains for physical products queued up to use its platform. “We enable companies to move faster, using their existing technology stack, and serve their customers better by automating their intercompany data flows,” said Bailey.
The new product suite Accelerate taps opportunities created via intelligently connecting siloed data streams. In the last few months, BackboneAI has concentrated on expanding its team, while also pushing for rapid market adoption across Fortune 500 and mid-sized companies in categories such as industrial products, automotive, food and beverage, and ecommerce. Adoptions are swift, because the platform can be configured and deployed within a few weeks.
BackboneAI has an ambitious roadmap for the next 18 months, with its biggest focus in figuring out how to use neural networks to accelerate intelligent data transformation for connection chain data silos. “Data unification is just the beginning. The long-term goal for us is to build self-directed software agent layers on top of the unified data layer we are building,” said Bailey.