Inventory management platform expands AI offerings with Cin7 ForesightAI, unveils innovation roadmap at annual Partner Summit
Cin7, the industry-leading inventory and order management software provider, unveiled the company’s vision for artificial intelligence (AI) in tandem with the launch of Cin7 ForesightAI, the new AI-enabled product capabilities made possible by the company’s acquisition of Inventoro earlier this year.
AI has become one of the biggest buzzwords in the business world, with companies rushing to showcase AI into their products and services. Significant progress and innovation has happened in the field of AI and machine learning, and Cin7 believes it offers tremendous opportunity and potential to fundamentally change how business applications are built. That’s why the company is taking the thoughtful approach of “AI with Purpose” by not just selling hype, but rather building real solutions that solve real world problems, and working directly with customers to ensure added value.
Read More: SalesTechStar Interview with Paul Kleen, Founder and CEO at Pitchit
“Cin7 is at a major inflection point with AI,” said Ajoy Krishnamoorthy, CEO of Cin7. “This presents an opportunity to fundamentally rethink and re-tool how we work and build products, and provide our customers with intelligent, time-saving solutions that seamlessly fit into their workflows, ultimately transforming the way businesses operate and succeed in the modern marketplace. With these new AI capabilities, we’re shifting towards a data rich, insights driven experience for our customers.”
With Cin7 ForesightAI, product sellers can enhance existing inventory and order management capabilities with intelligent predictions and optimization. Powered by a proprietary AI engine, sellers can now forecast demand with unmatched accuracy months in advance, maintaining optimal stock levels and eliminating overages.
In fact, by partnering with Cin7, HairCo went from manual stocktakes to real-time inventory visibility, smooth warehouse operations, and data-driven forecasts. The company saw a 10% sales boost with the implementation of smart forecasting capabilities, and now saves up to 50% of the time previously spent receiving goods, which they can reallocate to activities that move the needle for their business.
Read More: Thriving in Today’s High-Speed Sales Environment: The AI Advantage
Cin7’s innovation roadmap also includes the following product updates and enhancements that will be detailed further at the 2024 Cin7 Partner Summit in Denver:
- Intelligent Document Recognition (IDR) captures, interprets and extracts key data from a purchase order document (pdf), automatically creating a sales order in Cin7, saving hours of manual data entry and reducing human error.
- Cin7 Pay enables quick, easy and low-cost payment processing as well as expanded payment options and payment vendor management services, without ever leaving Cin7.
- Cin7 Capital connects business owners to vetted sources of funding to help them power and grow their operations right within the software that they already use.
Additionally, the company is proud to report growth since last year’s Partner Summit, with over 1,250 customers added including Táche, Realsy, Revival Tea, Jooy, Underground Printing, Cotton Twist and The Coconut Cult.
