IVNs: A Catalyst for Business Growth

Enterprises undergoing digital transformation prefer Google Cloud. Over time, we’ve helped leading retailers reinvent shopping, major manufacturers reinvent production, and customers across industries redefine hybrid work environments. Partners building, innovating, and delivering Google Cloud services made this possible.

Google Cloud’s industrial solutions include purpose-built data and AI platforms and an open cloud for partners with industry domain experience and services. To integrate our goods, services, and technology with our partners’, we developed Industry Value Networks (IVN).

Industry Value Networks integrate SI, ISV, and content partner knowledge to build comprehensive, distinctive, repeatable, and high-value solutions that speed time-to-value and decrease client risk. IVN solutions reduce the need for clients to design custom solutions for common problems because they are pre-integrated.

Formalized IVNs improve our transformation and open cloud concepts, enabling customers quickly solve industry obstacles.

There are various industrial issues to resolve. In retail, suboptimal experiences and inability to discover products lead to site abandonment and lost sales. This cost more than $2 trillion globally, including $234 billion in lost US sales, said Carrie Tharp, Google Cloud VP for Strategic Industries. Meanwhile, the American Medical Association (AMA) revealed that nearly nine out of 10 physicians claimed that prior authorization delays negatively affected patient clinical results, with some patients discontinuing therapy. These are some of the complicated business issues clients face daily. 

Rayn Veerubhotla, Google Cloud’s Managing Director for Partner Engineering, says AI-based products help clients and partners speed digital transformation. Discovery AI offers Google-like digital property search, browse, and recommendations. Healthcare Data Engine provides longitudinal patient records in near real time across siloed data silos. Med-PaLM 2 uses Google Cloud LLMs to generate high-quality medical answers. These capabilities and IVN partner products enable end-to-end solutions for essential industry business problems.”

We also introduced the Data & AI Cloud for Supply Chain today. IVN solutions can meet crucial industry use cases by simplifying access to the most relevant business data.

What IVN solutions are we launching?

Supply Chain: Clients seek resilient supply chains that can handle demand fluctuations, disruptions, and sustainability issues. Accenture, Google, project44, and NGIS are addressing several use cases, including commodities supplier first-mile sustainable sourcing certification and real-time transportation analytics for supply chain resilience. To cut emissions and save money, Google and Accenture are optimizing fleet management for mid- and last-mile deliveries.

Sustainability: Climate change, regulations, brand image, and consumer/investor demands require businesses to be sustainable. Deloitte and Geotab are releasing an IVN solution to assist fleets electrify end-to-end. Customers can use an interactive dashboard to trace their electrification journey. This IVN will receive incremental value from partner solutions that track clients’ carbon neutrality progress. 

Financial Services: The heavily regulated financial services business faces increased prices, competitiveness, cybersecurity concerns, and client expectations. AI-enabled insurance underwriting platform Quantiphi is launched on Google Cloud using Unqork and Dociphi, its IDP Platform. This helps commercial insurers automate difficult underwriting. This IVN solution will be included for dynamic entity resolution and fraud analysis from other Google Cloud partners in future iterations.

“Quantiphi solves the most complex financial services and insurance business problems. This will speed up application processing, boost quote-to-bind ratios, and improve broker-customer experiences.” Quantiphi Global Head of Financial Services and Insurance Bhaskar Kalita

What next?

More IVNs with strategic partners and clients will launch in Q4 2023 and early 2024. IVN solutions in progress include:

• Financial Services: Modernize core banking architecture with Thought Machine for better client experiences, product innovation, real-time reconciliation, and regulatory reporting resiliency. We’re also establishing an IVN with Quantexa and important SI partners for risk and fraud management, KYC, and ER.
• Retail and CPG: Generative AI interfaces will let consumers research items and services. Commercetools, Lytics, and Oriient are establishing a retail media network to monetize digital sites using C360 customer data.
• Healthcare/Life Sciences: Google Cloud generative and healthcare AI-enabled prior authorization with Myndshft & Pegasystems accelerates revenue cycle management for payors.

Innovative IVN solutions from Google Cloud and its partners will unleash our clients’ potential. Bron Hastings, Google Cloud’s Vice President of ISV Ecosystems and Channels, said IVN solutions will help clients deliver exceptional end-user experiences, improved operational efficiency, and sustainable practices in retail, consumer goods, financial services, healthcare, manufacturing, and other industries.

Google Cloud uses the trusted tester program and early adopter access for product launches to solicit client and partner input. IVN clients can now provide use cases and solutions, and partners can deliver industry advances.

Google Cloud Corporate Vice President, Global Ecosystem and Channels Kevin Ichhpurani said, “We are thrilled about the next phase of our transformation cloud with the launch of Google Cloud’s Industry Value Network solutions that are aimed at solving some of the toughest challenges our customers are seeing today.”

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