Mintmesh develops RUDY, a unified digital platform that utilizes explainable artificial intelligence and engineering language processing to automate and enhance bid evaluation processes for EPC engineers. By achieving up to 97% accuracy in data extraction and reducing bid evaluation time by up to 41%, RUDY addresses inefficiencies in managing technical and commercial bids.
Funding
$1M 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
Engineering, procurement, and construction (EPC) companies face challenges in efficiently evaluating technical and commercial bids due to the unstructured nature of documents and the manual effort required for data extraction and comparison. This process is often time-consuming, prone to errors, and lacks a centralized system for knowledge management. The reliance on legacy knowledge and disparate systems further exacerbates these inefficiencies.
Solution
Mintmesh offers RUDY, a unified digital platform designed to automate and enhance bid evaluation processes for EPC engineers. RUDY leverages explainable artificial intelligence (XAI) and engineering language processing (ELP) to extract data from various document formats with high accuracy. The platform creates a single system of record (SSOR) for bid evaluations, standardizing processes and improving cycle times. RUDY facilitates collaboration among engineers, suppliers, and other stakeholders, ensuring faster decision-making and problem resolution.
Target Audience
The primary target audience includes EPC companies, specifically engineering, supply chain management, and project management teams, as well as suppliers involved in the bid evaluation process.
Features
- AI-powered data extraction from technical and commercial documents, agnostic to template or format
- Augmented decision-making technology for technical and commercial bid evaluations
- Requisition authoring module with AI-assisted guidance for creating datasheets and project specifications
- Service requisition evaluation module for assessing subcontracting services
- Supplier marketplace portal (coming soon) for connecting buyers and suppliers
- Unified owner-operator visibility module (coming soon) for project control and insight
- Commercial bid evaluation module (coming soon) integrating advanced analytics
- Knowledge management module for storing and retrieving relevant technical and commercial information
- Discrepancy management to identify and highlight differences in supplier responses and engineering drawings
- User-based dashboards and analytics by item, supplier, and project
- Inter-company collaboration suite for creating technical queries and capturing discussion timelines
- Secure data storage with SOC 2 Type 2 compliance