This award spotlights top software and technology startups in the supply chain and logistics space.
MCKINNEY, TEXAS—Dec. 21, 2023 — Aavenir has been selected as one of this year’s Top Tech Startups by Food Logistics, the only publication exclusively covering the movement of products through the global cold food supply chain, and Supply & Demand Chain Executive. This recognition spotlights top software and technology startups in the supply chain and logistics space.
Aavenir has pioneered AI-first Contract Lifecycle Management and Source-To-Pay solutions on the ServiceNow platform that utilize state-of-the-art Aavenir's proprietary large language model (LLM) specifically trained for procurement and legal use cases. This, in conjunction with insights generated from connected data across Aavenir's Source-to-Pay and ServiceNow applications, further amplifies the contract analytics that Aavenir produces. Aavenir’s customers realize elevated ROI with 100% contract digitization and visibility, 90% accuracy in smart data and obligation extraction from contracts, and effective risk management through contract insights.
AI-powered automation retains its top spot from most of the winners (46% vs. last year’s 35%), with AI, smart data capture, and real-time transportation management trailing behind (41%, 33%, and 29%, respectively). Winners range in revenue from $1 million to $20 million or more, with startups beginning operation as early as 2000.
“Many of today's startups are poised to disrupt the supply chain space. Whether it's raising money to improve sustainability, visibility, and food safety or empowering companies to enhance the last mile, these startups are putting innovation at the forefront. They are introducing real-time tracking and carbon footprint solutions and developing robotics and wearables to better move product from Point A to Point B in the safest, most efficient manner,” says Marina Mayer, editor-in-chief of Food Logistics and Supply & Demand Chain Executive. The future of the supply chain industry is now. And now is the time to spotlight these startups' initiatives.”
We want to thank the Food Logistics and Supply and Demand Chain Executive publications for this recognition. I am super excited to receive this award on behalf of the brightest minds in our enterprising team,” said Jesal Mehta, the CEO at Aavenir.
“Enterprises spend millions of dollars fixing revenue and risk repercussions of poorly managed supply contracts, performance, and disjointed sourcing, procurement, and dependent systems. Aavenir’s AI-powered contract extraction, risk detection, and connected Source-To-Pay solutions on a single platform provide the much needed cost savings to enterprises in today's times, and are re-shaping the way that sourcing and procurement automations are handled,” added Jesal.
Recipients of this year’s award will also be profiled on FoodLogistics.com and SDCExec.com. Go to https://foodl.me/5z0zecqd to view the full list of Top Tech Startup winners.
To learn more about Aavenir, visit our website.
About Food Logistics and Supply & Demand Chain Executive
Food Logistics reaches more than 26,000 supply chain executives in the global food and beverage industries, including executives in the food sector (growers, producers, manufacturers, wholesalers, and grocers) and the logistics section (transportation, warehousing, distribution, software, and technology) who share a mutual interest in the operations and business aspects of the global cold food supply chain. Supply & Demand Chain Executive is the only supply chain publication covering the entire global supply chain, focusing on trucking, warehousing, packaging, procurement, risk management, professional development, and more. Food Logistics and Supply & Demand Chain Executive also operate SCN Summit and Women in Supply Chain Forum. Go to www.FoodLogistics.com and www.SDCExec.com to learn more.
About Aavenir
Aavenir helps enterprises maximize efficiency and boost ROI with AI/ML-powered Source-to-Pay applications on ServiceNow that include Sourcing Management, Vendor Onboarding, Contract Lifecycle Management, Contract Obligation Management, Accounts Payable Automation, and Collaboration workflows using portals. To know more, visit aavenir.com.
