A New Era of Supplier Discovery
Matchory, a German start-up, has developed an innovative tool that enables businesses to swiftly identify and compare suppliers. The tool, powered by artificial intelligence (AI), offers an extensive database of over 14 million companies, including manufacturers and raw material suppliers. This solution addresses the challenge of finding suppliers that meet specific selection criteria, particularly in countries like China and India.
Co-founder and CEO Aiko Wiegand notes that the supplier market is often opaque. Matchory’s tool, developed using AI and scraping technology, extracts information from various sources, making the supplier selection process less laborious and more transparent.
Enhancing Supplier Evaluation and Comparison
One of the tool’s key features is its ability to refine search results using user-defined keywords. It employs machine learning to continually enhance these results. Businesses can list their existing suppliers and request the tool to suggest potentially cheaper or superior alternatives. The tool can function independently or be integrated with an ERP system via APIs.
Prominent companies like Bosch and Jungheinrich are among Matchory’s users. Timo Rickermann, Chief Procurement Officer at DMG Mori, a major metalworking machine manufacturer, praises the tool for making their supplier market transparent. He appreciates the tool’s ability to quickly identify, compare, and evaluate suppliers.
Matchory, recognized as a Cool Vendor by analyst firm Gartner, has received an investment of €3 million. The start-up, with 19 employees, operates from Munich and Frankfurt. Wiegand emphasizes the importance of focusing on their core solution and listening to customer feedback as they continue to revolutionize the global supply chain landscape.
