Enterprise Europe Network

A UK SME is offering a predictive analytics audit and risk platform software

Country of origin:
Country: 
UNITED KINGDOM
Opportunity:
External Id: 
TOUK20200501001
Published
01/05/2020
Last update
19/05/2020
Expiration date
09/05/2021

Keywords

Partner keyword: 
Artificial Intelligence (AI)
Computer Software
Knowledge Management, Process Management
Quality Management System
Analysis Risk Management
Other computer services
Business and office software
Artificial intelligence related software
Expert systems
Consulting services
Other software publishing
Risk and damage evaluation
EXPRESS YOUR INTEREST

Summary

Summary: 
A UK SME is offering a predictive analytics audit and risk platform software. The SME is now seeking collaborative partners with whom they can form technical cooperation agreements for further development of this software particularly around blockchain and artificial intelligence technology. They are also looking for industry partners who can act as value added resellers (VARs) via license agreements but are also open to joint venture partnerships where it is mutually beneficial.

Description

Description: 

The UK SME has developed a predictive analytics audit and risk platform software, which at its core allows multiple dimensions and behavioural impacts to be understand, measured, scored and reported against multiple drivers of performance.

Desired and undesired results emerge from organisational culture in the same way music etc. emerges from a countries culture. Its many people behaving in many ways with many different impacts on many different people collectively impacting on greater or less degree (risk) to many different and sometimes conflicting desired and undesired business outcomes.

The developed technology unravels this ‘spaghetti bowl’ of complexity and interactions to make sense of it and its impact.

The SME will share the intellectual property (IP) of this technology and its underpinning know-how and show-how with the partner and develop the competences to exploit this under their brand.

This opportunity is not about reselling their product but an offer to take advantage to exploit the IP in a way that aligns with their business strategy.

The SME can provide case studies, examples and support as needed to allow the partner to really understand the application of the IP.

Opportunities they can offer where they already have live leads include:

- Supporting business valuations by putting a number to cultural risk,

- Helping a business exit consultancy to improve the suitability of businesses to exit,

- Intellectual Property Risk Management – both in industry and to enhance returns to investors including due diligence,

- The effectiveness of business processes (support internal audit) such as business planning, project management, people management, sales, contract delivery, production, change and improvement, business monitoring, asset management etc. Often these report against standards and business objectives,

- Supporting a financial services consultancy to deliver external and internal audit services to the financial services industry in responsible to the need for businesses to understand their organisational culture now required by regulators to meet conduct and compliance requirements,

- and Health and safety.

They are reluctant to fully pursue these without the correct partner/s on board.

The do not have, and will never have the width, resources or expertise to exploit the IP fully.

Hence they are offering a transfer of IP that allows the partner to take advantage of these and generate more opportunities.

The technology is very disruptive to existing methods.

They use an online platform that they have created, there being nothing on the market that aligns with the deployment of the IP in a practical sense. This is linked to Google Data Studio.

This platform has been designed so that user does not need to understand the science or IP just follow some design criteria to ensure the IP works effectively. It is straight forward to create assessments with or without external support and create unique algorithms automatically as the design takes place.

They can agree:
- The use of this platform to learn more and share the IP,
- Provide a copy of this so that it can be placed behind their firewall and hosted by them,
- Help the partner create their own content management and deployment platform, maybe using AI.

As by-product they can also offer how results are interpreted, their experience of reporting and the meaning behind the scores being set a level within the context of effective (ERM) Enterprise Risk Management.

They are now looking to further develop the software by embedding blockchain and AI technology via technical co-operation agreements but also looking for industry partners who are Value Added Resellers (VARs) via license agreements. They are also open to joint venture partnerships where it is mutually beneficial.

Advantages & innovations

Cooperation plus value: 
- Quantifies qualitative behavioural data. - Focuses on what people achieve, not what they say they do or write down. - Moves beyond current mechanistic tick boxing, audit, assessment, survey and risk management approaches. Merges the old with the new to provide a more holistic view. - Uses no questions or answers, visible scoring systems, right or wrong answers or what feel or think as these drive-in value judgements. Just focuses on people’s experience, the reality of their business as normal. - Reduces audit, risk, compliance and conduct management costs. - Improves management information linked directly to what they are responsible for achieving, unlike current methods, the windscreen. - Automatic real time data analysis via dashboards. Results against benchmarks to pinpoint where risk is emerging. With current methods there is limited intelligent analysis and it takes time and cost to delivery this. - Involve far more people and collects far more objective evidence than current techniques getting a more holistic picture of what is really happening.

Stage of development

Cooperation stage dev stage: 
Already on the market

Partner sought

Cooperation area: 
They are looking for industry partners via technical cooperation, licensing, and/or joint venture agreements as appropriate. This could be a single partner who: - wishes to be the go-to’ place for the IP and its use, - wishes to exploit the IP in their own industry domain, - host and maintain the online platform, - sub-license to other partners to other industry domains. And/or technical partners solely focused on a single industry or jurisdiction who wish to: - use the IP to develop and deploy services using their own brand within their own industry domain and geographical jurisdiction, - host and maintain the online platform, presumably a FinTech or IT business and maybe also create and deploy content within their industry domain as a differentiated product stream linked to their business strategy. They are also looking for an academic/business school partner who wishes to: - Learn the new IP and the academic rigour it uses, - Carry out research on the data created considering experience and current academic thinking, - Produce and publish expert papers for industry and students to use on the rationale and use of the IP and highlight the need for a different approach in the next industrial revolution.

Type and size

Cooperation task: 
SME 11-50,University,>500 MNE,251-500,SME 51-250,>500