December 14, 2023
With the end of the year upon us, we wanted to take a minute to highlight the hard work and resilience of our team as we collaborated with tier-1 financial institutions to advance our platform. It’s been a year of remarkable progress, strategic partnerships, and commitment to supporting financial institutions as they responsibly adopt technology, optimize its use, and eliminate unnecessary expenses.
We started the year off with a bang with the announcement of our GPT-3 integration (now GPT-4), becoming the first vendor in our space to do so. We’re ending it, not quite with a whisper, but with new branding. After all, there’s no better time to start fresh than the new year. Let’s get into the details of these two updates, plus everything that happened in between.
The integration with GPT-4 Turbo adds further explainability capabilities in the platform with domain definitions, potential use cases for each taxonomy node and solution, and summarizations. Quickly query for summaries of solution comparisons and alerts to easily evaluate the relevance, benefits, or risks to your organization.
Our platform already leverages the most robust and industry validated taxonomy in the market (1,700+ nodes) and delivers an always-on, self-updating catalog. Now users can generate new solution profiles automatically with the click of a button. Continuous discovery and automatic profile generation features of the live solutions catalog make product differentiation easier and more accurate than ever before. We’ve also added vendor hierarchy and clickable product categorization details, allowing users to access more granular information and differentiate between parent company, products, and acquisitions. This is a key capability that helps keep track of vendor or solution lifecycle.
In addition to the existing banking taxonomy, an insurance taxonomy has been added to the live solutions catalog, reflecting our expansion into broader financial institutions beyond banking. Insurers can now drill down to specific categories that are unique to their industry, making their search for suitable solutions even more manageable.
The new peer benchmarking feature allows organizations to understand macro-level trends and identify solutions adopted by similar organizations. View solutions only engaged with your organization, solutions only engaged with peer organizations, and solutions that are engaged with both you and your peers to understand current trends and potential gaps in your stack. All peer data is aggregated and anonymized.
We’ve also added fully customizable sentiment scoring criteria to give you better flexibility and deeper insight into how your colleagues feel about certain solutions, and the ability to manage and share solution lists and notes with colleagues.
The new analytics dashboard provides a visual representation of categorization stacks, how much you spend per domain, and taxonomy paths to three levels. This new feature allows businesses to drill down on the areas that need improvement and optimize their resources effectively.
‘My Activity’ and ‘My Organization’s Activity’ dashboards provide insight into recent searches, notes, scorecards, and trending solutions and categories. Businesses can use this information to better understand employees' needs, preferences and improve their business operations.
We launched Entrio APIs and single sign-on for more convenient credentialing. Use our platform and our data to enrich existing solutions in your ecosystem. Leverage our robust taxonomy and apply it to your sourcing or software asset management solutions for better classification or additional data points that you don’t have today.
Lastly, we're excited to show off our new logo in the platform and across our new website and materials. Out with the old, in with the new! We will be going more in depth into our rebrand in the coming weeks, so stay tuned for more information.
With the updated catalog, new collaboration features, better analytics, and improved interoperability, our product enhancements over the past year are sure to drive even more value for your organization. Looking ahead, we will be carrying many of these themes forward in our 2024 product roadmap. 2024 will bring updated generative AI capabilities, further expansion of our live solutions catalog, deeper insights from the peer network and crowd feedback, and the ability to more quickly translate insights into actions. Here’s to the hard work ahead and the promising opportunities to come along with it.
