Veridion

Supplier sourcing is a strategic game with big stakes. 💪 Companies are looking for partners who do more than fill an order; they want innovation, stability, and transparency. Here’s a rundown of the latest trends and stats shaping this landscape: 𝗦𝗼𝘂𝗿𝗰𝗶𝗻𝗴 𝗶𝘀 𝗳𝗿𝗼𝗻𝘁 𝗮𝗻𝗱 𝗰𝗲𝗻𝘁𝗲𝗿: For 35% of procurement teams, sourcing tops the priority list, emphasizing the impact of picking the right suppliers on everything from product quality to innovation. 𝗦𝗼𝘂𝗿𝗰𝗶𝗻𝗴 𝗰𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝘆 𝗱𝗿𝗮𝗴𝘀 𝗼𝗻 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘃𝗶𝘁𝘆: A surprising 17% of procurement teams struggle with complex sourcing processes, often bogged down by outdated methods. With AI tools like Veridion, they could streamline supplier discovery and focus on higher-value tasks. 𝗦𝘂𝗽𝗽𝗹𝗶𝗲𝗿𝘀 𝗰𝗿𝗮𝘃𝗲 𝘁𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆: While 58% of suppliers feel buyers focus too much on cost, 53% would happily provide more detailed insights if buyers fostered better partnerships. Collaboration could unlock major benefits on both sides. 𝗘𝘁𝗵𝗶𝗰𝗮𝗹 𝘀𝗼𝘂𝗿𝗰𝗶𝗻𝗴 𝗶𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗿𝗶𝘀𝗲: 77% of organizations have implemented ethical sourcing policies, reflecting a growing demand for suppliers who align with environmental and social values. Read all about it on our blog. 👇

🎉 According to the Romanian Startup Awards, we’re not just the Most Scalable Startup, we’re also officially the Best Startup in Romania! That’s right, folks. Veridion didn’t just show up, we walked away with two of the biggest honors of the night. Why? Because when you’re processing 2.6 billion web pages monthly, crunching 10 petabytes of data, and tripling your revenue in a year, people start to notice. 💼 If you’re someone who loves working on cutting-edge AI-driven solutions and wants to be part of the best (and most scalable) team in the country, join us: https://lnkd.in/d8gNf2z6 To everyone who’s been part of our journey so far, our incredible team, partners, and supporters, thank you for believing in Veridion. We couldn’t have done it without you. And to the rest of Romania’s startup ecosystem: we’ll see you at the top! 🚀 #BestStartup #MostScalable #Veridion #RomanianStartupAwards #VeridionData

🌪️ Is Your Supply Chain Prepared for the Next Hurricane? Our analysis of Hurricane Milton reveals the top 50 business activities and the 3 industries most impacted, exposing vulnerabilities in supply chains reliant on single-source suppliers. 💡 Ready to strengthen your supply chain? Explore our Supply Chain Disruptions in Times of Natural Disasters Case Study to uncover key insights and see how Veridion’s data empowers procurement teams to identify alternative suppliers, minimize risks, and build a resilient, diversified supplier network: https://lnkd.in/d7-tme5v Don’t wait for the next disruption, use Veridion’s data to plan ahead!

Disruptions stemming from supplier bankruptcies, cyber threats, geopolitical conflicts, and evolving regulatory demands pose significant challenges to companies striving to maintain smooth operations. This is where supplier risk assessment emerges as a critical practice, enabling organizations to anticipate, evaluate, and address vulnerabilities in their supply chain proactively. Beyond mitigating risks, a thorough supplier risk assessment process contributes to broader organizational goals, such as improving financial stability, ensuring consistent product quality, and aligning with sustainability and compliance standards. Yet, despite its importance, supplier risk assessment is not without challenges. From navigating the dynamic nature of risks to handling complex processes and addressing limited data access, businesses often struggle to carry out effective evaluations. Fortunately, innovative tools and strategies are transforming how companies approach supplier risk management. By leveraging advanced technologies like AI-powered platforms and Supplier Relationship Management (SRM) software, organizations can streamline their efforts, gain actionable insights, and foster robust, disruption-ready supply chains. Read all about this on our blog ⬇️

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Let’s face it, AI is all the rage in procurement, but is it actually worth the hype? Spoiler alert: absolutely, if you’re doing it right. Here’s a quick dive into how AI is turbocharging procurement, turning data chaos into clarity, and letting teams leave the mind-numbing tasks to the machines. Here’s what you need to know: -> AI’s Speed is Mind-Blowing: Imagine finding suppliers 90% faster, AI does in hours what would usually take weeks. It’s like having a turbo button for procurement, and it works like a charm. -> Precision Over Hype: While 80% of procurement pros want to hop on the AI bandwagon, a fair few don’t quite know why (spoiler: “everyone else is doing it” isn’t the best strategy). With Veridion’s data, you get a tech upgrade and the clarity to know it’s worth it. -> Real-Life Superpowers: From spotting trends to predicting future demand, AI in procurement gives you a view of your data that’s sharper than a hawk’s. No more guesswork; just accurate, data-driven decisions. -> Automate the Boring Stuff: AI automates the repetitive time-sucks - like creating RFx docs, matching invoices, and managing contracts - freeing your team to focus on high-impact work. And yes, it’s saving big players like Walmart serious money in negotiations. Read more on this in one of our very valuable articles 👇

In a world where responsible business practices drive trust and resilience, Veridion is bringing ESG data front and center in underwriting. We’re giving insurers the insights to go beyond the basics and make smarter, more future-focused decisions, because the data shows that sustainability isn’t just good ethics, it’s good risk management. Here’s how Veridion’s ESG data changes the game: 𝟭. 𝗥𝗶𝘀𝗸, 𝗕𝘂𝘁 𝗦𝗵𝗮𝗿𝗽𝗲𝗿 With Veridion, insurers can assess a company’s sustainability, social practices, and governance strength. It’s like x-ray vision for risk management, showing where the real vulnerabilities lie (think climate risks, social dynamics, and ethical practices). Poor ESG practices can lead to costly liabilities, and Veridion helps insurers spot these risks upfront, lowering claim surprises. 𝟮. 𝗣𝗿𝗲𝗺𝗶𝘂𝗺𝘀 𝘁𝗵𝗮𝘁 𝗠𝗮𝗸𝗲 𝗦𝗲𝗻𝘀𝗲 With Veridion’s ESG insights, pricing can finally reflect the true risk. Companies with strong ESG practices benefit from lower premiums, while those with vulnerabilities see higher rates. Plus, with ESG data, insurers can introduce innovative products like green insurance for renewable projects or policies backing social causes. 𝟯. 𝗟𝗼𝗻𝗴-𝗧𝗲𝗿𝗺 𝗚𝗿𝗼𝘄𝘁𝗵 𝗮𝗻𝗱 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 Our data helps align underwriting and investment strategies with sustainable business practices, supporting insurers’ growth and regulatory needs. ESG data isn’t just about risk, but also about staying compliant, transparent, and strategically aligned with future regulations. 𝟰. 𝗪𝗶𝗻𝗻𝗶𝗻𝗴 𝗧𝗿𝘂𝘀𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 ESG data also boosts your brand. By using Veridion’s insights to prioritize responsible clients, insurers can build a reputation that appeals to today’s conscious consumer and future-proofs relationships with clients, investors, and regulators. At Veridion, we’re not just providing data, we’re powering a smarter, more ethical approach to underwriting. Ready to see how ESG insights can drive both profit and purpose? Connect with us to explore the possibilities! #ESGData #FutureofUnderwriting #Veridion

⚙️📉 Tired of chasing down outdated info and spending hours manually validating policies? Veridion’s guide has the answer (or, more precisely, 123 million answers from companies worldwide) to make commercial insurance a whole lot smarter, and maybe even enjoyable. Imagine cutting manual tasks by 40%, hitting 88-90% accuracy in business classification, and boosting your quote-to-bind rate by 50%. It’s like having a supercharged GPS for underwriting, minus the re-routing. You get real-time data, pinpoint risk insights, and a treasure trove of hidden opportunities to make your work not just easier, but way more precise. Curious? Take a peek, and let Veridion show you how data can do the heavy lifting! 🚀

📊 Leveraging Veridion Data, we mapped out the number of gyms per 100k inhabitants in each U.S. state and compared it with obesity rates to explore potential correlations. This infographic visualizes how these 2 datasets intersect. 👉 Highest Number of Gyms per Capita: Massachusetts, with 10.6 gyms per 100,000 inhabitants and an obesity rate of 31%. 👉 Lowest Number of Gyms per Capita: West Virginia, with 3.1 gyms per 100,000 inhabitants and the highest obesity rate of 41%. 👉 Overall U.S. Average Obesity Rate: 33%.

Veridion is joining forces with Digital Stack as a proud partner of DevFest Bucharest 2024! 🌍 ✨ On November 13th, the largest conference created by developers, for developers, is back in Bucharest, bringing the best minds together from over 140 countries. We’re thrilled to support this incredible event and contribute to the innovation driving our community forward. 📢 Don’t miss Veridion’s Ionescu Alexandru on stage at 13:15! He’ll dive into the impressive journey of moving 2PB of data in just 3 days, from tackling networking infrastructure to scaling a Kubernetes cluster that’s ready to handle hundreds (or even thousands) of nodes. It’s a must-see for anyone passionate about digital transformation! Thank you, Digital Stack, for this amazing opportunity, and we can’t wait to see you all there! 🙌 💡 #DevFest2024 #DigitalTransformation #TechInnovation #TeamVeridion