DeepStream is a cloud-based procurement platform that streamlines the source-to-contract process by enabling efficient communication and collaboration between buyers and suppliers. The platform reduces reliance on manual tools, allowing procurement teams to increase the number of RFx sent per month and achieve significant savings through automated negotiation features.
Funding
$8.6M 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.
CVSXFounders
Product
Problem
Procurement teams often struggle with inefficient, manual processes for managing the source-to-contract lifecycle, relying heavily on email and spreadsheets. This can lead to communication silos, increased cycle times, and difficulty in tracking and analyzing sourcing events. The lack of a centralized platform hinders collaboration and limits the ability to achieve optimal savings and compliance.
Solution
DeepStream is a cloud-based e-sourcing platform designed to streamline and automate the entire RFx process, from initial request to contract management. The platform provides a centralized hub for buyers and suppliers to collaborate, communicate, and manage all sourcing activities. By automating workflows, DeepStream reduces reliance on manual tools, enabling procurement teams to increase the number of RFx sent per month, reduce cycle times, and achieve significant cost savings through features like e-auctions and automated negotiation. The platform also offers robust reporting and analytics capabilities, providing actionable insights into procurement processes and spend decisions.
Target Audience
DeepStream is designed for procurement teams in mid-sized to enterprise organizations looking to streamline their sourcing processes, improve collaboration with suppliers, and achieve greater cost savings.
Features
- Customizable supplier onboarding questionnaires for pre-qualification
- Centralized RFx management with standardized request templates and integrated communication tools
- Real-time e-auction capabilities for competitive bidding and price negotiation
- Contract management module for creating and storing contracts directly from awarded requests
- Supplier discovery tool to identify and engage with new suppliers
- Management reporting and analytics dashboard for tracking RFx performance and spend analysis
- Integrates with existing business workflows and tech stacks through a plug-and-play platform