How Beroe will Empower Autonomous Negotiations with nnamu
Beroe, renowned for its decision intelligence for procurement, has acquired nnamu GmbH, a pioneering negotiation technology business that has created the world's first game theory-based AI agent.
nnamu uses advanced game theory principles to recommend and deliver optimal negotiation strategies, generating substantial cost savings and total cost of ownership improvements.
Revolutionising procurement with advanced intelligence
Vel Dhinagaravel, founder and CEO of Beroe, says: "Beroe was founded on the basis that procurement teams were at a disadvantage in terms of market knowledge, when compared to the commercial teams of their suppliers and we've worked hard to close that gap for our customers for nearly 20 years.
"With this acquisition, Beroe is paving the way for procurement professionals to access advanced AI and game theory concepts, revolutionising how procurement professionals negotiate with their suppliers."
Speaking on LinkedIn after the news, Vel adds: "In our Beroe Live roadmap, we have long wanted to add a “negotiation co-pilot”. When we learnt that nnamu was available for sale, it was clear that we had to act.
Having deployed AI in multiple use cases on the Beroe Live.ai platform, the company saw synergies with nnamu's exceptional capabilities in autonomous negotiations.
As part of the integration roadmap, Beroe will infuse its proprietary market intelligence into nnamu's negotiation agent, ensuring even better outcomes for customers.
Leveraging game theory for negotiation success
Christian Paul, Co-CEO and founder of nnamu, says: "Negotiators across industries use nnamu's proprietary AI agents to easily set up, navigate and autonomously run negotiations leveraging game theory.
"Our users have lots of fun nearly effortlessly running these complex events, improving total value of ownership and supply chains."
Effective negotiations are core to procurement's ability to deliver savings and bottom-line impact. nnamu's AI agent is built on a unique 20-year data set of more than 2,000 negotiations, undertaken by more than 100 specialists in game theory and economics, with a cumulative value exceeding €400bn (US$436.7bn).
Martin Walter, Co-CEO and CTO of nnamu, adds: "As part of the acquisition Beroe has established a new entity in Germany and is taking on the full nnamu team.
"We are particularly excited nnamu has found a new home with Beroe – their proprietary market intelligence data will further amplify the impact of our solution for our clients."
nnamu’s team of 20 professionals will join Beroe and we will collaborate closely to leverage the respective strengths to deliver game changing value for customers, in both multilateral and bilateral negotiations. With Berlin set to serve as an important new hub for Beroe.
Expanding AI capabilities
Beroe has been on procurement’s leading edge since the company’s founding in 2006, bringing a world of insights forward.
The unique combination of Beroe’s expertise, AI tools and vast amounts of reliable data enable organisations to make smarter, faster, better procurement decisions. Not tomorrow, not today but now. Selected by ProcureTech as one of the “most pioneering analytics, data and intelligence solutions in 2024”,
Beroe helps thousands of organisations sift through the data noise, mitigate risk, face fewer surprises and ultimately gain a competitive edge.
Beroe is harnessing AI to empower procurement, such as adding its AI-powered procurement assistant, Abi, available as an agent within the Microsoft Copilot Store.
This groundbreaking integration has made Beroe the first procurement intelligence provider to deliver its market-leading insights directly within Microsoft 365 applications.
With this, it adds to Abi's existing integration with Microsoft Teams, where more than 50,000 enterprise users already rely on it daily for procurement intelligence.
But now, with Abi being readily available as an Agent within Microsoft Copilot, procurement teams have another powerful way to access insights – whether in chats, emails or documents – without disrupting their workflow.
Explore the latest edition of Procurement Magazine and be part of the conversation at our global conference series, Procurement & Supply Chain LIVE.
Discover all our upcoming events and secure your tickets today.
Procurement Magazine is a BizClik brand
