This week marks a significant milestone for Levelpath on our mission to reimagine procurement through the power of AI. We are unveiling Hyperbridge architecture, our proprietary reasoning engine that sits at the core of the Levelpath platform, at our annual Connect customer conference.
From the outset, we recognized that truly transforming procurement required more than just automating tasks - it demanded a unified AI solution that enhances both user experiences and business outcomes. Traditional procurement technologies create fragmented processes, disconnected data silos, and inefficient workflows that drain productivity and resources. This fundamental disconnect inspired us to build the Levelpath AI platform from the ground up.
At the heart of our new platform is the Hyperbridge architecture, which extracts insights from enterprise data sources and enriches procurement information with contextual intelligence spanning legal, finance, security, IT, and other core business functions. By mapping relationships across all this data, the Hyperbridge architecture streamlines workflows, fosters more informed decision making, mitigates risks, and improves cross-functional collaboration.
The impact is profound. Our customers can now drive substantial productivity gains, realize significant cost savings from optimized supplier management, and unlock enhanced business agility as procurement evolves into a strategic catalyst.
The numbers speak volumes about the urgency to revolutionize procurement. Fortune 500 companies spend an average of 75% of their total costs on external suppliers, accounting for 65% of revenue. Yet a mere 10% reduction in supplier costs could surge EBITDA by 32% for these industry leaders according to research from Proxima and Bain & Co.*
As Dr. Elouise Epstein, author and partner at Kearney, states: "A digital approach requires us to embrace new technology systems, data management, and sophisticated analysis. By leveraging AI and advanced analytics, we can transform procurement into a function that improves EBITDA margins, drives supply chain innovation, and enhances overall business agility."
With the Hyperbridge reasoning engine, we’re doing exactly that. The Levelpath AI platform ensures enterprise-wide engagement and adoption through its simplicity and modern user experiences. At the same time, our sophisticated reasoning engine maximizes visibility into procurement operations and spend across the business.
This is just the beginning. As we continue developing the capabilities of our Hyperbridge architecture, fueled by our team's deep expertise in procurement and supplier engagement, we will further revolutionize how organizations drive efficiencies, mitigate risks, and uncover new sources of value from their supplier relationships.
I couldn't be more excited to unveil our Hyperbridge architecture at Connect in San Francisco this week and give our customers a firsthand look at the future of delightful procurement powered by AI. Join us on this journey as we relentlessly enhance the Levelpath platform to truly transform procurement into a driver of innovation and competitive advantage.
-- Alex
*According to The State of Spend Report and Supplier Cost Reductions, Proxima a part of Bain & Co
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