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AI-Powered Cost Efficiency for Construction
Dealtwidth is a London-based startup. Its goal is to revolutionize the construction industry by harnessing artificial Intelligence (AI) and machine learning technology. With their AI-driven platform, they are set to provide relief from overcharging issues that industries often face.
Dealtwidth has an intriguing value proposition — their tech enables customers to upload images of invoices or quotes onto their platform. The state-of-the-art system then utilizes OCR technology for data extraction from these images. But here’s where it truly shines — Devices can cross-reference this information with multiple suppliers in its expansive database, securing the most effective pricing available in real-time.
Cost savings aren’t all they’re after! The system’s built-in Intelligence also offers recommendations on alternative products that match customers’ needs while being kinder to their wallets. Dealtwidth targets entire invoices instead of individual items — an approach not commonly seen among competitors such as Google Search and Honey, who dominate through referrals based on single-item searches.
And just like any thorough technological solution today, big data analytics also finds a place generously within Dealtwidth’s processes. Coupled with cloud platform integration, these technologies ensure easy access and quick responses whether you’re searching for the nearest or least expensive suppliers.
Being CEO in such a forward-looking business environment demands strategic decision-making, team management skills, and financial backgrounds necessary for growth-driving initiatives — something John asserts he is pretty comfortable handling due mainly to his experience leading similar ventures before founding Dealthdwidth.
The vision of creating transparency with product pricing came about after he was overcharged at a garage once, inspiring him to develop this venture that eradicates hidden costs during procurement, thus disrupting conventional market practices and ultimately providing growth impetus for the construction industry.
Comprehensive price comparison platforms pose potential competition for established suppliers. Additionally, indirect rivals may pivot to offer similar services. The evolving landscape will be fascinating, but the startup fills a gap in the current market service propositions.
The company has plans to generate revenue through commissions from suppliers and small fees charged to clients, augmenting costs where needed. So watch out, the UK construction industry, savings and intelligent procurement are getting a new definition with Dealthdwidth!
