GRAPHITE CONNECT
Those insights can then be used to kick off projects like a risk assessment when a SOC report changes, or a renegotiation when a contract is coming up for renewal.
Finally, Graphite’ s natural-language model AI improves search capabilities and insights across the entire supplier database:“ When you put AI over the top of this dataset of all of your suppliers, your search works better and you can extract insights lightning fast.”
Proving the network effect: Industry micro-networks Graphite has found particular success by focusing on vertical markets with overlapping supplier bases. Conrad cites Paramount as an example of a company that benefited from consolidating vendor data across multiple ERPs following the merger of Viacom CBS and Paramount.
This success creates a virtuous cycle where satisfied customers advocate for wider network adoption:“ Every new person, every new company that comes into that micro network or that vertical network brings value.”
Through tracking the network, there are now more than a million updates per month to supplier data in the network. Every time a procurement team wants to connect with an active Graphite supplier, it’ s exceptionally fast – 1-3 days on average – because that supplier’ s data is already accessible and easily shared.
“ Through all of that, this vendor onboarding and vendor process
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