Extract Companies Selects ConverSight to Accelerate Sales and Optimize Inventory

INDIANAPOLIS (May 10, 2022) — ConverSight, an artificial intelligence and adaptive analytics platform company, is proud to announce today, a partnership with Extract Companies (Extract), a leading oilfield technologies company, to revolutionize operations across sales, supply chain and finance departments through the power of conversational AI.

With a focus on providing top of the line service to customers with the best reliability and responsiveness in their industry, Extract was searching for a solution provider that could deliver market activity around 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, 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 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 while maintaining the right level of inventory, at the right place and time. To learn more about how ConverSight is helping manufacturers and distributors build resilience to navigate changes in supply and demand, visit https://conversight.ai.

 

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About ConverSight

Founded in 2017, ConverSight, humanizes the interaction between computer systems and the 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 and supply disruptions are rewriting the rules of the game. ConverSight comprehensive platform empowers users to engage with systems using simple dialogue, enabling organizations to make informed and accurate decisions through Natural Language Conversational Interaction. To learn more, visit www.

About Extract

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.

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