What Is COVALYZE?
COVALYZE is an intelligent cloud platform to optimally manage your category groups. With our AI-based analytics, you see which suppliers overprice their materials or services and what is a fair price for every single article. COVALYZE empowers your teams around the world to implement significant cost reductions much faster.
Who Uses COVALYZE?
Every company or institution in the world that needs to buy many different articles from many suppliers in material and services
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Reviews of COVALYZE
Great Commodity Insights
Comments: Covalyze enabled a robust and objective insight into several cost outliers, further supporting the related supplier negotiation and resulting savings. Throughout our data-heavy commodity area, Covalyze help us to clearly identify areas of focus, through slick data regression methods.
This really enabled me and the team to efficiently interpret significant amounts of cost data, saving time and energy on analysis, and allowing us to better focus on those targeted savings opportunities.
I would have preferred more ability to manipulate data further, but access and ability to export is limited.
Great Price vs Performance Tool for any Procurement Department
Comments: It was a wonderful collaborative experience working with Covalyze to onboard commodities and pioneer the Price vs Performance Regression analysis methodology at Dyson. It has helped Commodity Managers develop another benchmarking tool to support negotiation preparation, enabling them to realise over $2M savings across 10+ commodities.
Covalyze uses a sophisticated and well-developed regression methodology to develop a "price calculator" for commodity costing. The user-friendly interface helps Commodity Managers identify price outliers very easily to address with suppliers and makes progressive steps into developing a commodity cost calculator in alignment with actual commodity cost structures. The software helps to identify potential savings from consolidating spends across similar parts and different suppliers, which highlights and outlines Procurement's priorities for annual negotiations
The onboarding process requires a deep commodity understanding of the performance and cost drivers in order to develop an accurate price formula before valuable and accurate insights can be extracted. Fortunately, the Covalyze team is experienced in asking the right questions and have technical expertise/background to develop this with the client.
Good cost regression software.
Covalyze has managed to break down a simple component and put a value to the technical characteristic that the component should cost. Although different manufacturer do have different manufacturing processes that ends up with different prices, it is still a good baseline to understand if we are paying at the market price.
Covalyze should improve on the download feature so that we can easily download the information that we require for the models that we required/
Comments: very profession, friendly and helpful having several rounds of discussions with our engineering teams to fully customise to our specific requirements
easy to interact with and visual for extracting key information quickly
the low frequency at which the market data is refreshed
2 years ago
Thanks a lot for your feedback and your suggestion for a higher frequency on updating additional market data - we will work on that!
Useful Platform for Assessing Cost
Comments: Useful platform which for the most part clearly picks out valuable insights from lots of data.
The ability to identify cost drivers across an range of parts is helpful, allowing this data to be used to influence engineering teams to mitigate cost where possible. Also helpful is the identification of saving potential, allowing you to prioritise cost down activities where you know there is a lot of opportunity.
Due to the high amount of data, it's not always clear in the feature overview section what the units are referring to (Units, Volts, mm, Suppliers, for example)