SANTA CLARA, Calif., March 06, 2018 (GLOBE NEWSWIRE) -- Seeloz Inc. today announced it has signed an original equipment manufacturer (OEM) partnership with SAP (NYSE:SAP). Through this partnership, Seeloz will leverage the power of SAP HANA and scalability offered by the SAP Cloud Platform in accelerating the growth of its Operational Optimization System (OOS). Leveraging SAP HANA and offered in the form of tailored Software-as-a-Service (SaaS) point solutions running on the SAP Cloud Platform, the Seeloz OOS will complement the power of Artificial Intelligence (AI) and Deep Learning with the scale of SAP HANA and SAP Cloud Platform to tangibly assist hospitals, retailers, food distributors, and distributors of pharmaceutical and medical supply in minimizing supply chain waste.
“Around 30% of worldwide production from food, medicine and medical supply goes to waste every year. Pharmaceutical waste approaches 100 billion dollars annually in the US alone. Seeloz leverages AI and Automation to minimize this waste. Today’s announcement marks an important milestone for Seeloz towards achieving its mission.“ said Dr. Mohamed Aly, Founder & CEO, Seeloz Inc. “Hospitals can now fully depend on the scalable OOS, leveraging SAP HANA, to autonomously drive all supply procurement workflows based on accurately forecasted patient needs. We’re confident that collaborating with a giant in the enterprise software world such as SAP will boost our ability to mature the OOS and allow us to seamlessly embed it in the daily procurement workflows across the different targeted customers.”
In both the healthcare and food industries, billions are lost annually due to waste caused by supply chain inefficiencies. Waste comes down to four primary challenge areas: supply expirations, overstock, stock-outs, and cross-warehouse movements. These challenges can be traced to a primary root cause; procurement workflows typically run through Enterprise Resource Planning (ERP) systems not being driven by end customer needs, e.g., forecasted patient needs in a hospital that are typically derived from Electronic Medical Record systems (EMRs). Equipped with the power of Artificial Intelligence, the Seeloz OOS bridges the disconnect between ERPs and EMRs through a layer of smartness autonomously running procurement workflows with the goals of optimizing supply availability and minimizing waste.
Seeloz offers tailored versions of OOS to optimize operations for each of the players along the food and healthcare value chains, including providers (i.e., hospitals and retailers), distributors, and manufacturers. Since its launch in Q1 2017, the OOS tangibly demonstrated an ability to minimize supply waste, and particularly expirations, by 50%-80% for hospitals, food distributors and pharmaceutical distributors. Through this efficiency boost, early adopters of the OOS were capable of reducing overall supply costs by 5%-20%.
The initial focus of the partnership will be to offer the OOS, leveraging SAP HANA and running on the SAP Cloud Platform, to hospitals and Integrated Delivery Networks (IDNs) in the US and in selected International markets. Given that the OOS is agnostic from the underlying software systems already run by customers (e.g., ERPs and EMRs), the collaborative go-to-market approach is intended to enable a wide range of IDNs and hospitals to tap into the power of the OOS to achieve tangible and immediate supply cost reductions.
Based at the heart of the Silicon Valley, Seeloz is an emerging leader in the Vertical-Specific AI-Driven (aka, Vertical AI) software space, aiming at becoming one of the main catalysts of AI-driven Automation across the industry. Driven by its mission to save the world through AI, Seeloz focuses on minimizing waste across the healthcare and food value chains.
SAP, SAP HANA, SAP Cloud Platform and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) in Germany and other countries. See http://www.sap.com/corporate-en/legal/copyright/index.epx for additional trademark information and notices.
All other product and service names mentioned are the trademarks of their respective companies.
SAP Forward-looking Statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
For more information, press only:
Media Relations Contact