The startup offers a digital vendor management platform that automates the vendor management lifecycle, enhancing governance processes and supplier performance tracking. This solution enables procurement organizations to efficiently manage supplier obligations and risks, ensuring optimal value across the supply chain.
Funding
$4.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many organizations struggle with inefficient vendor management processes, leading to increased risks, missed obligations, and suboptimal supplier performance. Siloed systems and manual processes hinder visibility across the vendor lifecycle, making it difficult to ensure compliance and maximize value from supplier relationships.
Solution
Brooklyn Solutions offers a digital vendor management platform that streamlines and automates the entire customer-supplier lifecycle, enhancing governance and optimizing supplier performance. The platform provides a centralized repository for contracts, supplier data, and performance metrics, offering a 360-degree view of all commercial relationships. By leveraging AI and automation, the solution enables organizations to digitize contracts, extract key obligations, and proactively manage risks, ensuring compliance with internal policies and external regulations. Brooklyn Solutions facilitates collaboration between stakeholders, automates key governance processes, and provides actionable insights to drive better business decisions and maximize value across the supply chain.
Target Audience
The primary target audience includes procurement organizations, risk management teams, legal departments, and other stakeholders responsible for managing supplier relationships and ensuring compliance across the supply chain.
Features
- Centralized repository for contracts and supplier data, providing a single source of truth
- AI-powered contract analysis for automated key term extraction and risk identification
- Automated compliance checks and scoring to ensure adherence to internal policies and external regulations
- Customizable workflows and templates for streamlined onboarding and contract management
- Real-time performance tracking and reporting with customizable scorecards and KPIs
- Integrated risk management tools for proactive identification, assessment, and mitigation of third-party risks
- Collaboration tools for enhanced communication and knowledge sharing among stakeholders
- Integration with external data sources, such as Creditsafe and Dun & Bradstreet, for comprehensive risk assessment
- Support for various industry-standard frameworks, including GRI, ISO 26000, and SASB
- Integration with Microsoft Dynamics, SAP Ariba, Service Now, and other business applications via API