INDIANAPOLIS (May 10, 2022) — ConverSight, an artificial intelligence and adaptive analytics platform company, is proud to announce today, a partnership with Extract Companies (Extract). Together, a leading oilfield technologies company will revolutionize operations across sales, supply chain, and finance departments through the power of conversational AI.
Extract focuses on providing top of the line service to customers with the best reliability and responsiveness in their industry. This company needed a solution provider that could deliver market activity to specific customers. With the addition of ConverSight, decision makers gain visibility into a centralized data repository to accurately plan inventory and forecast for the future with AI-driven precision.
Extract has already seen benefits since implementing ConverSight across business operations including:
Optimized parts and product performance drill down – With ConverSight, Extract has a refined view of customer activity in the marketplace. They have narrowed down to the parts, products, and revenue associated with each customer for accurate inventory planning.
Re-aligned sales strategy – Detailed visibility into sales activity has empowered sales teams with access to real-time data. This includes customer performance reports, profit margin impacts, and profitable product reports including the launch of a new stock shelf program.
Improved cash flow and cost savings – Reduction of slow-moving inventory from warehouses in addition to improved margin visibility with AI-driven recommendations.
“Partnering with ConverSight has jumpstarted a long-awaited digital transformation initiative at Extract,” said Steve Carpenter, Supply Chain, Logistics and QMS of Extract. “It has been an eye-opening process that is changing the way our entire organization views supply chain, planning, and selling. Providing our sales team with further data driven insight to pre-emptively target customer demands based on what Athena recommends as most profitable and most commonly bought together for each individual customer. It’s been a total game changer!”
ConverSight connects with existing data systems and is immediately available to understand true consumer demand. This AI software is able to maintain the right level of inventory, at the right place and time. To learn more about how ConverSight helps manufacturers and distributors build resilience to navigate changes in supply and demand, visit https://conversight.ai.
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Founded in 2017, ConverSight, humanizes the interaction between computer systems and users. The artificial intelligence and analytics-based platform uncovers actionable business insights for enterprises through natural language conversations. Digital analytics, AI and business insights are becoming a key differentiator in the supply chain space. In return, supply disruptions are rewriting the rules of the game. ConverSight’s comprehensive platform empowers users to engage with systems using simple dialogue. As a result, organizations are able to make informed and accurate decisions through Natural Language Conversational Interaction. To learn more, visit https://conversight.ai
Extract is a leading independent provider of electric submersible pump (ESP) and surface pumping technology to the upstream US oil and gas industry. Our combination of reliable equipment, responsive service, and differentiated technology helps operators generate operating cash flow from production assets while reducing emissions.