ZURICH, July 30, 2018 /PRNewswire/Korea IT Times -- Specialized in digitized, strategic procurement management, Chain IQ is revolutionizing its own industry. As the first of a series of new developments from its in-house "Innovation & Digitalization Lab," the company now brings the Smart Joint Sourcing App to market.

Operating across four continents, Chain IQ defined the "Digitalization Roadmap 2020" as part of its future-oriented strategy. This roadmap features a wide ranging variety of innovative initiatives to be realized. The established Innovation & Digitalization Lab is developing and implementing intelligent, digital, analytical and Artificial Intelligence products, as well as services and solutions.

The Innovation & Digitalization Lab has just produced a world novelty - the machine-learning based Chain IQ Smart Joint Sourcing WebApp. With an integrated algorithm, this solution also significantly optimizes the client's effort around purchase planning through use of powerful predictive analytics methodologies, amongst many other benefits, e.g. sourcing calendars and volumes are bundled and tenders are fully managed; by that the Chain IQ Smart Joint Sourcing App ensures best terms and conditions possible, generating maximum savings. Chain IQ apply Smart Joint Sourcing specifically for its major customers with an annual indirect spend starting at CHF 200M.

Further solutions out of the "Innovation & Digitalization Lab" around big data, new digital platforms or interaction with customers and suppliers via intelligent marketplaces are already in development.

Since its inception in May 2014, Chain IQ has been following a progressive course accompanied by steady growth. Based on the managed spend volume the enterprise is meanwhile ranked as one of the top procurement companies globally, serving more than 30 international, well-known clients across a multiple of industries in more than 20 countries.

This media release is also available at chainiq.com/media-releases.

Chain IQ is an independent, global service company providing strategic, tactical and operational procurement for its clients. Chain IQ operates from its main centers - Zurich (headquarters), New York, London, Singapore, Mumbai and Bucharest - and is currently servicing more than 20 countries (including Mainland China, Hong Kong, Japan and Australia).

Information/Contact:

Elisabeth Ehrsam
Head of Public Relations and Public Affairs to the Chairman
Chain IQ Group
elisabeth.ehrsam@chainiq.com