May 19, 2020

ElectrifAi and CherryRoad Technologies Partner to Benefit all NASPO ValuePoint® Members

Enabling Access for State, Local and Education Procurement Officers to ProcurementAi - an Industry-Leading AI and ML Solution for Spend and Contract Management

JERSEY CITY, N.J., May 19, 2020 /PRNewswire/ -- ElectrifAi, a global leader in practical artificial intelligence (AI) and machine learning (ML) products, today announced its partnership with CherryRoad Technologies Inc., a leading integrator of public sector software and digital technology solutions.

Together, the two organizations will provide state procurement officers access to innovative AI technology solutions through the ProcurementAi suite under NASPO ValuePoint's Cloud Solutions Master Agreement, which CherryRoad was awarded in 2016. Under the agreement, CherryRoad may market cloud solutions and managed services to state and local governments through a nationally-led cooperative alliance.

Through this strategic partnership, NASPO members may now enjoy the benefits that ProcurementAi provides including enabling procurement organizations to accurately classify all spending, regardless of the complexity of the underlying data, and then finding and acting on savings and reallocation opportunities – all in a matter of weeks. The suite not only allows procurement professionals to easily obtain the information they require from spend data, but it connects spend to contract data to find more opportunities to decrease costs and risks and improve compliance more than ever before. ProcurementAi also supports organizational transformation by providing faster, more efficient insights into unnecessary spending at the end of the year and opportunities for leverage which contracting leaders can use when issuing and negotiating requests for proposals (RFPs).

With access to ElectrifAi's leading solutions, government purchasing professionals will receive the actionable insights needed to become strategic leaders. Additionally, agency secretaries, universities and department commissioners can achieve their transparency and compliance objectives through deeper insights and enhanced reporting capabilities. With substantial impacts to state revenues in the coming quarters, the strategic importance of procurement organizations is now more critical than ever.

"Our state governments have immense potential to reap the benefits that AI is currently providing to the private sector," explains ElectrifAi CEO, Edward Scott. "We're thrilled that through our partnership with CherryRoad, we will be able to help to level the playing field in the public sector and provide our ProcurementAi suite to NASPO members."

"CherryRoad is proud to offer an innovative, secure, and dependable cloud procurement solution that meets the needs of state and local government," said Jeremy Gulban, CEO of CherryRoad. "With the current economic challenges impacting many public sector entities, it's critical our customers have data at their fingertips in one, centralized cloud solution in order to make timely decisions."

About ElectrifAi
ElectrifAi is a global leader in building innovative artificial intelligence-based products and is on a mission to help organizations change the way they work through machine learning: driving profit, performance improvement and risk reduction. Founded in 2004, the company draws on 16 years of industry leadership, a global team of domain experts, and a proven record of transforming structured and unstructured data at scale. The company's AI-based products reach across business functions, data systems, and teams to drive superior results in record time. ElectrifAi has over 100+ data scientists, 50+ software engineers and a proven record of dealing with over 2,000 customer implementations. At the heart of ElectrifAi's mission is a commitment to making Ai more understandable, practical and profitable for businesses and industries across globe. ElectrifAi is headquartered in Jersey City, with offices located in San Diego, Shanghai and New Delhi. To learn more about ElectrifAi, visit ElectrifAi.net.

About CherryRoad Technologies
At CherryRoad, our clients entrust us with the success of their IT solutions, whether we're delivering on-premise ERP, cloud-based application management, business intelligence, process optimization, strategic staffing, or change management consulting. Throughout our 30-year history we've successfully partnered with hundreds of public sector and commercial clients to modernize, optimize and manage their back-office functions. Headquartered in Morris Plains, N.J. with offices across the U.S., we've earned a solid reputation for combining technology, organizational, functional, and vertical market expertise into practical solutions that deliver results – on-time and on-budget. For more information, visit www.cherryroad.com

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