German-based startup Trufa recently raised USD4.5 million in its Series A funding round. The funding round was led by Accel Partners, which resulted to partner Bruce Golden's election as a Trufa board member along with Paul Wahl and Alex Ott, former SAP executives.
Golden said about its significant contribution into Trufa, "Trufa is addressing a major industry problem with a solution that can have a tremendous impact on a company's financial performance. We look forward to working with this world-class team on transforming operational decision-making and building a global software leader."
According to Trufa, it is focused on using its real-time software program to tap into SAP-based enterprise resource planning (ERP) systems to improve the overall efficiency of enterprises. The results of the data analytics could be reviewed in easy-to-decipher tablet applications. In order to achieve this, Trufa uses a HANA in-memory database technology. HANA or High Performance Analytic Appliance is described as a relational database management system that is in-memory and column-oriented designed, developed and marketed by SAP AG. SAP is a multinational software corporation based in Germany which is focused on entreprise software.
According to TechCrunch, Trufa's technology takes on a consumerization approach to enterprise software, which means that Trufa uses predictive algorithms to help businesses simplify a costly and common enterprise problem of optimizing operational expenses spending. Trufa cited a latest PricewaterhouseCoopers study which indicated that public companies around the world have around USD5 trillion in total cash that could be freed from working capital via improvements in operations. The said study also suggested that this could be done should operational decisions are done better.
Moreover, Trufa, with its software inspired from expertise of seasoned industry veterans including SAP, Lawson and VMS AG on ERP and data analytics expertise, would help companies prioritize initiatives in operations according to their financial impact, and could track the decision's progress.
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