Freqens is a Negotiation Intelligence Platform that centralizes supplier data and provides real-time market insights to enhance purchasing strategies. By leveraging live market data and peer benchmarking, it enables companies to identify cost-saving opportunities and optimize their negotiation terms effectively.
Funding
$3.2M 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 companies lack real-time visibility into market pricing and struggle to benchmark their supplier terms effectively. This makes it difficult to identify cost-saving opportunities and optimize purchasing strategies during negotiations. Existing benchmarking processes are often time-consuming, rely on outdated data, and lack the granularity needed for accurate comparisons.
Solution
Freqens is a Negotiation Intelligence Platform that centralizes supplier data and provides real-time market insights to enhance purchasing strategies. The platform allows companies to benchmark their purchasing performance against live market data and peer benchmarks, uncovering previously unreachable insights. By connecting order forms, contracts, and invoices, Freqens enables users to monitor suppliers, manage contracts, and identify savings opportunities. The platform empowers internal buyers with price insights before negotiations, fostering cross-team collaboration and enhanced teamwork.
Target Audience
Freqens targets procurement teams, CFOs, and other professionals responsible for optimizing spending within organizations across various industries.
Features
- Centralized dashboard for managing suppliers' products, contracts, and purchasing terms
- Real-time market data and peer benchmarking for accurate price comparisons
- Identification of cost-saving opportunities and contract deadline control
- Personalized insights and cost outlier detection
- Secure data encryption, segregation, and EU cloud hosting
- Role-based access control for enhanced teamwork