With the massive growth of the data science industry, the process of vendor and partner onboarding has become increasingly time-consuming and opaque. Certa, a no-code automation platform for procurement and compliance, helps enterprises reduce onboarding time, increase transparency and ensure companies meet the security requisites. In an interview with Analytics India Magazine, Certa’s Founder and CEO, Jagmeet Lamba, spoke about the company’s tech stack, offerings and plans.
AIM: What problem does Certa solve?
Companies are increasingly dependent on their third parties. In fact, 70% of a company’s revenue typically goes to its third parties. To onboard each third party, companies need to exchange data (such as taxing and banking information), mitigate risks (e.g. reputation, security, privacy), sign contracts, and monitor performance. Moreover, now organisations want to work with third parties whose values align with their own. Unfortunately, these processes lead to a ton of back and forth across various functions within a company, which makes it a slow, opaque, and burdensome ordeal.
Certa’s software enables companies to onboard and manage risk, compliance, and ongoing collaboration across the entire lifecycle of their third parties.
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Companies use Certa’s no-code workflow and integration platform to automate their business rules and workflows via drag-and-drop. In addition, Certa’s plug and play modules and 100+ integrations with data sources get third parties up and running quickly and painlessly.
AIM: Tell us about the cross-company solutions provided by Certa in India.
All global companies now have suppliers and partners in India. Moreover, Certa is used by one of India’s largest ride-sharing firms and one of India’s largest eCommerce firms. Using Certa, Indian firms can get validated GST information and automate the entire KYC/AML work.
AIM: What is the tech stack behind Certa’s no-code platform?
AIM: How do Certa’s automation solutions differ between countries and sectors?
Certa can automate tax and banking validation in almost every country globally. Plus, Certa is completely multilingual and currently live in 17+ languages.
Moreover, Certa has an agile business rules engine that allows processes to be localised by country, region, and sector.
AIM: What is the importance of leveraging data to support supplier onboarding?
Data sources enable us to do highly specialised validations (fraud, tax/banking, sanctions checks, bankruptcy risk, resilience, etc.) by utilising data. Additionally, the information provided by suppliers can also be reconciled by the information provided from data sources/integrations so that the data is cross-checked. Leveraging data allows us to evaluate the risk of onboarding suppliers and continuously monitor them after they’ve been onboarded so that companies are aware of any risks that could potentially arise.
AIM: How do you see the company collaboration leading the data science industry?
We enable data science firms to be easily and quickly onboarded at leading firms globally. Moreover, Certa is developing proprietary AI to enable companies to optimise their processes.
AIM: You have just received Series A; what is Certa’s expansion roadmap now?
Proceeds will be used to enhance our sales and marketing teams as well as to conduct opportunistic acquisitions of niche targets.