Technology

Platform helps firms track supply chains in real time

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In procurement, a small delay can spiral into a costly crisis if left unchecked.

To mitigate such procurement and supply chain bottlenecks, local tech startup Xetova has created artificial intelligence-backed solutions to allow buyers, suppliers and financiers work together seamlessly.

The cloud-based infrastructure allows corporates, parastatals, government agencies and multinationals to monitor performance of their supply chains in real time.

The platform also allows buyers to collaborate with their suppliers and help financiers validate contracts to approve financing.

Technically, the platform assists suppliers document their performance and use the track record that is secure and authenticated by the buyers to access financing for their deals.

“We are providing a holistic platform for all the key players in procurement,” said Bramuel Mwalo, the CEO and founder of Xetova.

Users of the AI-solutions, which the startup unveiled early last year, include a number of state agencies such as the Kenya Revenue Authority, Kenya Medical Supplies Authority (Kemsa) and banks such as the National Bank of Kenya (NBK).

At the KRA, Xetova’s technology is helping the state agency simplify its supply chain management process to boost efficiency.

For NBK, which is one of the banks using the platform, the startup has deployed technology that is enhancing the lender’s large scale supplier financing projects.

Basically, the bank is using the technology to identify which supplier to finance.

At Kemsa, the technology is currently being deployed to support in disease tracking which will enable in forecast for preparedness and delivery of essential health products in good time.

The deployment comes amid plans by the government to roll out Universal Health Coverage (UHC) in the country and enhance transparency in the procurement of essential health products

UHC is targeted at boosting access to preventive, promotive, curative, rehabilitative and palliative health services.

“Our technology calculates backwards in terms of what Kemsa needs to buy to ensure essential healthcare products are delivered on time for the benefit of the people,” said Mr Mwalo.

So impactful is the AI technology by Xetova, that the startup has earned recognition by Massachusetts Institute of Technology (MIT), a private research University in Cambridge.

Xetova is the only African AI-innovation finalist under the theme Health Security and Pandemics at MIT’s Solve 2020 Global Challenges.

“We are among the 15 finalists selected from 2,600 applicants. This recognition validates our thinking,” he said.

Other categories under challenge included Learning for Girls and Women, Maternal anf Newborn Health, Sustainable Food Systems and Good Jobs and Inclusive Entrepreneurship.

Winners for each category will be announced on 29th September virtually.

Aside from sharing a Sh2.5 billion prize funding, the winners will be exposed expertise like oxford in terms of machine learning.

The startup which has 20 employees plans to have footprints in 30 African countries in the next four years.

Mr Mwalo noted that the goal is to make Xetova’s innovation the standard technology of choice for procurement management across the continent.

“Our desire is to offer a technology that makes procurement simple and efficient and inclusive, for the growth of our local industry,” he said.