What Entrio does
Entrio aids financial institutions in streamlining and managing their vendor stacks, through an artificial intelligence platform. The platform provides institutions with the ability to identify software duplications, searching and comparing offerings through a vendor browser, optimising technology stacks and internal efficiencies.
AutomationEntrio’s ability to automate the vendor discovery process removes the need for third-party consultants using a machine learning engine that is able to analyse and monitor 50,000 solutions.
Real-time insightsEntrio’s solution can provide enterprises with visibility into their vendor stack, providing real-time actionable insights, and optimising business risks and costs.
Centralised platformFinancial institutions can easily monitor vendors within a centralised platform, streamlining workflows, and creating efficient vendor and information management.
Cost-effectiveIn a period where there are multiple software solutions that serve the same purpose, large enterprises require a cost-effective solution to remove redundant costs. Entrio empowers customers to take control of their software allocation and optimise.
Why we invested
The largest financial institutions (FIs) utilise more than 50,000 vendors to help optimise their processes, according to McKinsey. FIs are seeing sign-off power increased at lower levels of management. The result of this is faster paced decisions on vendors but increased complexity and reduced visibility.
These disjointed and inconsistent technology foundations are creating difficult-to-manage processes, ultimately resulting in large inefficiencies across businesses.
Currently, the vendor management process is manual and fragmented with businesses requiring multiple internal business lines as well as external consultants to discover, qualify, onboard, manage, optimise and monitor vendors. Utilising technology for vendor management is becoming a necessity as more technology vendors become available. Teams require a platform centralising an otherwise overwhelming amount of data to correctly implement strategies in line with financial dependencies.
Entrio has developed an AI platform enabling financial institutions to streamline and manage their vendor stack. The platform provides enterprises with visibility into vendor stacks providing real time actionable insights, optimising business risks and costs.