With Israeli mathematicians and Dutch bankers on board, Boston Massachusetts-based Eventus Logistics North America Inc claims it is only a matter of time before its demand forecasting software hits the big time, and it says many hits on its web site are from worried competitors. Eventus is backed by Vanenburg Ventures BV, a Dutch venture […]
With Israeli mathematicians and Dutch bankers on board, Boston Massachusetts-based Eventus Logistics North America Inc claims it is only a matter of time before its demand forecasting software hits the big time, and it says many hits on its web site are from worried competitors. Eventus is backed by Vanenburg Ventures BV, a Dutch venture capitalist company set up by Baan’s founders, John and Paul Baan.
Demand Planner uses a library of about 20 mathematical modeling techniques to make predictions on data stored in an Oracle database about the product, scheduled events and other influences. A manufacturer of packaged consumer goods, one of Eventus’ two business sectors alongside complex engineering and construction products, might plug in the previous sales history, the dates of a forthcoming promotion and other information like national holidays, weather conditions or market statistics and from that derive a prediction on future sales.
The software uses the technique of Bayesian Inference, which EMEA VP for sales Geoff Lane explains as the software selecting a range of the most appropriate models. More than half of Eventus’ total staff are in its R&D facility in Ramat-Gan, Israel, and though wary of discussing the company’s revenue other than a $10m to $50m range, Lane asserts that more than 60% of current revenue is spent on development.
Eventus has spent the last year bolstering its staffing in anticipation of a sales drive. Lane heads up the sales in the EMEA region office, which was established last year and now has 20 employees, though that figure is expected to more than double this year. The company opened a branch in Antwerp, Belgium in February to manage sales in the Benelux area, and a Paris office is scheduled next month. Germany and the Nordic region are also in the top tier of geographic markets. After that, Spain, Portugal, the Middle East, Africa and the Asian markets are in the frame.
Eventus sells directly in Israel and in the UK, but Lane has also been charged with extending the firm’s partnerships with software and systems integrators to expand sales. Eventus already has deals with ERP vendors QAD, Baan and JD Edwards, but would like to sign up small systems integrators with experience in specific market sectors, like Dutch supply chain software integrator Crovadis.
Eventus competes with supply chain firms like i2 and Manugistics, but Lane says the firm will only focus on consumer packaged goods, whose sales are impacted by promotions and marketing campaigns and complex engineering and construction, where multiple supply cycles and economic conditions complicate the manufacturing process.