Action360
en
en
en
en
en
en
Date of Foundation
2020

Action360

Optimized Performance-Based Contract Management

Contact

The Idea origin story

Our startup, Action360, employs cutting-edge AI and ML technologies to aid vendors of outsourced food and environmental services for hospitals. We streamline pre-contracting processes, contract writing, execution, and ongoing management. Action360 propels contract profitability, reduces financial risks, enhances KPI fulfillment, boosts customer collaboration and satisfaction, thereby leading to more successful contract acquisitions, renewals, and service expansions.

The Mission

At Action360, we leverage AI to optimize contract management in outsourced services for hospitals, enhancing profitability and satisfaction.

Clients

Our customers are vendors offering outsourced food and environmental services to hospitals.

Problems we solve

Client’s problem

Action360 enables the vendor executive team to maximize profitability and reduce risk when writing and managing contracts, the regional managers to exceed contracted KPIs more consistently, and the location managers to proactively identify and correct gaps in service to ensure that contracted KPIs are delivered.

Confirmation of problem

The actuality of the problem is confirmed by recurring financial losses and unfulfilled KPIs in outsourced service contracts.

Solution

Through our startup, we offer a comprehensive solution including an intuitive AI-powered platform that assists in the efficient management of performance-based contracts. Our system is designed to enable high profitability and minimal risk during contract formation and supervision. Aiding managers at regional and location

Our technologies

This solution is based on technologies

Artificial Intelligence, Machine Learning, Predictive Analysis, and Blockchain for transparent contract management.

How it works

Action360 is an advanced analytics platform that utilizes AI to set optimized KPIs pre-contracting, streamline contracting and offer real-time implementation alerts and strategies.

Value for the client

Action360 increases profitability and reduces risk through optimized contract management, ensuring consistent KPI fulfillment and improved service delivery.

Market and strategy

Market size

mln/year

We estimate the market size for which our solution is designed in monetary terms as follows

Market share goal

5

% of the market

Is our goal in the next 3 years

Team

My name’s

Richard Potter

My key role in the product

My key role is thought leader, functional architect, and product manager in the startup. I'm responsible for strategic visioning, blueprinting the technical structure of our product/service, and overseeing its development to guarantee it meets customer needs.

Team size and key members

Our team currently comprises Rich Potter, with 12 years in business process solution design, and Bruce Quinn who brings 30 years of service-business leadership expertise.

Competitors

Competitors

Our startup competes with giants like SAP Ariba, JAGGAER, Icertis as well as newcomers such as Concord and Outlaw in the contract management space.

Our Advantages

Action360 stands out as a performance-based contract management solution, designed specifically for outsourced service vendors. We offer an all-inclusive platform where stakeholders at every level contribute proactively to ensure successful contractual outcomes.

Business model

We make money by charging the outsource service vendors per service and per hospital, based on number of beds. As an alternative, we can charge based on contract size.

Traction

Leveraging recent AI and ML breakthroughs, we've evolved our initial MVP into a refined version. The second iteration focuses on enhanced user experience and superior contract outcomes, reflecting lessons learned from our introductory endeavour.

Using the funds, we're crafting a robust SaaS application complete with enterprise-grade features and security. Our focus lies in carving out a niche product-market fit with a fundamental feature set while securing 2-3 high-value enterprise patrons.

Metrics

We aim to meticulously monitor key product metrics, namely client acquisition rates for growth tracking, the density of active users revealing engagement levels, churn rate exposing customer retention performance, lifetime value showing profitability per user and Net Promoter Score (NPS), as a measure of our overall customer satisfaction.

We aim to secure a paid pilot project. This crucial step will help us gain insights into our key financial matrices, thus enhancing our understanding of fiscal dynamics integral to our startup's success.

Incorporation

Our company incorporated in

Florida

Key risks

The primary risks for my startup include potential market resistance to technological transition, competition from existing contract management platforms, regulatory complexities in deploying AI/ML-powered solutions, and challenges in ensuring complete data privacy.

Investments

$

1000000

We raised investments

Our Investors

Bruce Quinn owns 50%. Richard Potter owns 50%.

Rising Investments

$

500000

Currently, we are raising investments

$

0

Estimated pre-investment valuation of the company

Request additional information

We’re looking for a co-founders

Open positions

Article

Read

Additional information

Action360
Idea
Date of Foundation
2020