askLio - AI-Copilot for procurement teams

Unleashing the Power of askLio: Revolutionizing Procurement with AI

In a world driven by innovation, startups continue to emerge with groundbreaking solutions to age-old problems. One such startup that has caught the attention of enterprises far and wide is askLio. Founded in 2023, this San Francisco-based company is on a mission to transform procurement teams into superhumans. But what exactly is askLio, and how does it plan to achieve this ambitious goal? In this article, we'll delve deep into the world of askLio, exploring its founders, its innovative AI-copilot technology, and the profound impact it's having on procurement teams at large enterprises.

Who Are the Visionaries Behind askLio?

Before we dive into the intricacies of askLio, let's meet the driving forces behind this startup. The trio of founders brings a wealth of experience and expertise to the table, making askLio a formidable player in the procurement tech landscape.

Vladi Keil - The CEO with a Vision

Vladi Keil, the co-founder and CEO of askLio, is a seasoned entrepreneur with a track record of success. He achieved profitability with a startup at the young age of 22, setting the stage for his future endeavors. In Munich, Vladi and his roommate co-founded an EdTech firm, a venture that gained significant traction. However, his entrepreneurial journey didn't stop there. In 2021, he co-founded "Gabriel," an AI startup that eventually partnered with the German FBI.

Vladi's extensive experience includes consulting enterprises on procurement, and he's now committed to making procurement managers superhuman. His vision for askLio is to revolutionize the procurement landscape by harnessing the power of AI.

Lukas Heinzmann - The Technical Mastermind

Lukas Heinzmann, an AI Engineer with a Master's degree in AI/ML from TUM (Technical University of Munich), is another key figure at askLio. He began his journey as one of the first employees of a startup that Audi later acquired. Lukas played a pivotal role in introducing AI/ML into mobile apps, tripling the user base and improving the star rating of the myAudi app. His entrepreneurial spirit led him to co-found Gabriel AI, a venture focused on preventing telephone fraud using advanced AI algorithms.

Now, as askLio's CTO, Lukas brings technical prowess and innovation to the forefront, driving the development of AI solutions that will reshape procurement processes.

Till Wagner - The Operational Excellence Guru

Completing the trio of founders is Till Wagner, co-founder, and COO of askLio. Till's journey to askLio involved gaining experiences in web and app design, as well as product-building at various AI startups, including one based in San Francisco. He also brings valuable insights from his time at Deloitte, where he worked on projects for their biggest German client.

Till's academic excellence, backed by scholarships and a string of top-class degrees, is a testament to his dedication. Notably, his experiences while working at SAP, where he faced challenges in procurement, inspired him to create solutions that are comprehensible to people. This drive for simplification and operational excellence is a core pillar of askLio's mission.

The Birth of askLio: Empowering Procurement Teams

Now that we've met the brilliant minds behind askLio, let's explore the startup's mission and the groundbreaking technology it brings to the world of procurement.

What Is askLio's Mission?

askLio's mission is nothing short of transformative. It's all about addressing the pain points and challenges faced by procurement teams in large enterprises. Having experienced these challenges firsthand, the founders are committed to three key objectives:

Operational Excellence: They aim to streamline and optimize the entire procurement process, making it more efficient and cost-effective.

Talent Shortage: In an era where skilled procurement professionals are in high demand, askLio wants to bridge the gap by providing AI-powered support.

Effective Demand Management: By automating and simplifying procurement, askLio seeks to improve demand management, reducing costs and risks for enterprises.

With these goals in mind, askLio set out to develop a solution that would redefine the way procurement teams operate.

The Procurement Predicament: What Problem Does askLio Solve?

Large enterprises often grapple with a cumbersome procurement process. Employees, whether they're seeking products or services, frequently struggle to navigate the complex web of procurement rules and regulations. This results in a flood of text-based requests to the procurement team, each one presenting a unique challenge. The existing methods for handling these free-text requests are far from ideal and often involve labor-intensive manual processing.

The Pain Points of Manual Procurement

Procurement teams find themselves bogged down with the following tasks:

  • Understanding Employee Requirements: Deciphering the often vague and convoluted requests from employees.
  • Directing Spend Appropriately: Ensuring that spending aligns with existing contracts, vendors, and catalogs.
  • Correcting Errors: Identifying and rectifying incorrect or missing information in requests.
  • Spend Analysis: Attempting to conduct spend analysis, a nearly impossible task when dealing with unstructured text requests.

These challenges turn procurement into a costly and time-consuming process, hindering the efficiency of large enterprises.

How Does askLio Solve It?

askLio brings the power of Generative AI into the procurement landscape, ushering in a new era of automation and efficiency. Here's how their innovative solution works:

Natural Language Processing: Employees can express their procurement needs in natural language, specifying their demands without the need for complex forms or jargon.

Immediate Catalog and Vendor Insights: askLio's AI-Copilot immediately provides employees with information on where to find the desired solution within catalogs or with vendors who have existing contracts.

Refining Specifications: The AI assists in refining specifications, ensuring that purchase requirements are structured and enriched with relevant information, such as purchase category.

Spend Analysis Made Easy: By understanding and processing text requests, askLio empowers procurement teams to conduct spend analysis and category management in a matter of seconds.

In essence, askLio serves as a virtual assistant for procurement managers, automating the most labor-intensive aspects of their work and drastically reducing manual effort.

The Remarkable Impact of askLio

Now that we've seen how askLio tackles procurement challenges, let's explore the profound impact it's making in the world of large enterprises.

Can askLio Really Save $2.6 Million Annually?

Yes, it can. On average, askLio saves enterprises a staggering $2.6 million per year. This isn't just a bold claim; it's backed by results. In a world where time is money, askLio turns the procurement process from a weeks-long ordeal into a matter of hours. The efficiency gains are undeniable, and the cost savings speak volumes.

Who Are askLio's Customers?

Some of the world's most renowned companies have already embraced askLio's AI-Copilot. The technology isn't just a game-changer; it's a necessity for enterprises looking to stay competitive and efficient in a fast-paced business environment.

The Future of Procurement: Powered by askLio

askLio is not just a startup; it's a beacon of innovation in the procurement landscape. With visionary founders, cutting-edge AI technology, and a mission to transform procurement teams into superhumans, askLio is poised to shape the future of procurement for large enterprises.

As businesses continue to evolve and adapt to the digital age, solutions like askLio are becoming essential tools for success. The days of manual, time-consuming procurement processes are numbered, and askLio is at the forefront of this transformation.

In conclusion, askLio is more than just a startup; it's a revolution waiting to happen. With its AI-powered copilot, it's set to redefine how large enterprises approach procurement, making it faster, more efficient, and cost-effective. As the world continues to witness the incredible impact of askLio, it's safe to say that the future of procurement has arrived, and it's looking brighter than ever.