The product will be called SmartBuyer and will aim to tackle the issues caused by ineffective job descriptions and uninformed buying behavior, the release stated. The tech comes from a year-long research and development project into how sourcing and contracting behaviors among hiring managers at global enterprises affect business outcomes.
The companies used Brightfield’s Talent Data Exchange (TDX) platform to analyze over 1 million transactions between thousands of labor contract buyers and suppliers, according to the release. They then looked at 2,000 unique buying behaviors that could have an effect on business outcomes.
The solution will use Beeline’s future-focused vendor management system, giving customers a foundation for good labor buying, the release stated.
That foundation includes customer buying behavior insight via AI-generated profiles of enterprise labor buyers as well as real-time labor buying decision support to offer tailored guidance on job design, price point, geographic location and requisition fill risk — all contextualized based on behavior, according to the release.
In addition, the new system will have an even richer data set of anonymized behavioral, market rate and supplier insights, the release stated.
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“AI holds vast potential, but it is useless without data scale, history and science to incorporate the coded behavior of individuals and institutions,” said Beeline CEO Doug Leeby in the release. “Companies need models that predict and prescribe how to make decisions in the future with the benefit of past successes and failures.”
Management Controls Senior Vice President of Insights and Analytics Mark Rivers spoke with PYMNTS last year about the ways data can be used to help payments improve. He said it would behoove construction companies, for instance, to use more automation to make their payments flow better.
