July 3, 2020
Requis Wins CIO Review’s “Most Promising Supply Chain Solution Providers 2020″ Award
Requis, an end-to-end holistic supply chain and commerce platform, has been recognized as one of CIO Review’s Most Promising Supply Chain Solution Providers for 2020.
“This is an exciting achievement,” said Richard Martin, Requis CEO. “Our entire team has worked very hard to create a platform that helps supply chain managers make their digitization goals a reality.”
Requis was created to fill the lack of holistic supply chain management solutions and enable supply chain teams to buy, manage, and sell their assets on one single platform. While supply chain professionals had previously had discrete tech for each of the three use cases, the ability to do this from one single platform had not existed until Requis.
Worley (formerly Worley Parsons) became Requis’ initial investor/partner when they realized that the platform was ideal for their clients to manage their entire supply chains. Users loved the simple, intuitive workflows as compared to anything else they have used before.
Currently experiencing heavy adoption in the energy, resources, and IT verticals, Requis is designed to facilitate both internal asset management and connections to other companies for procurement and disposition.
“The beauty of Requis,” said VP Platform Richard Donaldson, “is that it allows enterprises to digitize at their own pace. Some organizations start with selling surplus assets on Requis, while others have found that our procurement module has created incredible efficiencies for their teams. No matter which way they start, users find that Requis makes life easier.”
Martin comments, “We believe that Requis can help enterprises reduce total supply chain costs by up to 50%. This is based on a Center for Global Enterprise (CGE) study that found that by fully digitizing, procurement costs can be reduced by 20% and overall supply chain costs by 50%.”
Disposition is another untapped opportunity according to Martin. “In our experience, most energy companies carry way too much surplus inventory, and sell it for much less than they should be getting.”
Adds Donaldson, “Enterprises should be getting at least 5% of the value of their assets when they sell, but most are settling for much less by selling only to scrappers. Requis allows enterprises to sell to each other and to refurbishers to earn more. This not only generates free cash for the seller, it helps stimulate the circular economy.”
As Requis continues to grow, Martin feels there is more excitement in store for the Requis team and platform users alike. “We are constantly growing both our team and the capabilities of our platform. We are very connected to the needs of supply chain professionals, and we intend to be the platform that answers those needs.”
“The number of organizations making Requis their supply chain management platform of choice continues to grow almost daily,” says Martin. “We feel that as the Decade of Supply Chain continues to unfold, we’ll be able to look back and see Requis as a major contributor to supply chain’s digital revolution.”
View the Award Article on CIO Review’s Website >