The startup develops payments and order management software that integrates email, spreadsheets, and paper checks into a single platform, enabling businesses to manage their supply chains efficiently. By providing features like order tracking and network monitoring, the software helps engineering and production teams operate securely and cost-effectively without incurring additional expenses.
Funding
$13M 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 manufacturing companies still rely on manual processes like email, spreadsheets, and paper checks to manage their supply chains, leading to inefficiencies and a lack of real-time visibility. This can result in production delays, increased costs, and difficulty in scaling operations.
Solution
Factor provides a supply chain execution platform designed to streamline sourcing, procurement, and logistics for hardware teams. The platform integrates data intelligence, procurement tools, and logistics infrastructure to connect engineering, procurement, and logistics teams in one place. Factor automates supplier communication, tracks purchase orders, highlights inventory gaps, and provides clear-to-build reports, enabling manufacturers to optimize production and maintain lean operations.
Target Audience
The primary target audience includes hardware manufacturers, electrical engineering teams, and procurement departments seeking to streamline their supply chain operations and improve production efficiency.
Features
- AI-powered parsing of emails and attachments for automated purchase order tracking and daily exception reports.
- Real-time visibility into inventory demand and supply, highlighting potential shortages based on BOMs and build goals.
- Integration with existing ERP and PLM systems for automated clear-to-build reporting.
- API and AI-assisted PO management for buying from any supplier with a click.
- Rule-based ordering to structure procurement based on preferred vendors, compliance, and authorization requirements.
- End-to-end material tracking from PO to delivery with Cofactr DocAI.
- Software-powered storage and kitting solutions with inspection, counting, MSL reset bakes, and private storage options.
- Digital management for C-of-Cs, date & lot code management, and detailed audit trails.