Converge Technology Solutions Announces GenAI Focused Partnership with Forum Systems
TORONTO and GATINEAU, QC, April 18, 2024 /PRNewswire/ - Converge Technology Solutions Corp. ("Converge" or "the Company") (TSX: CTS) is pleased to announce it has entered into a strategic partnership with Forum Systems, a leader in LLM and API technologies, to leverage QuantumSim™, a Secure Multi-LLM Gateway.
As Arun Chandrasekaran stated in recent Gartner® research, "Generative AI (GenAI) has the potential to transform businesses across industries. Most business and technology leaders believe that the benefits of GenAI far outweigh its risks, despite the significant risks it poses and potential regulations likely to emerge in the near future."
Converge and Forum's partnership combines cutting-edge GenAI capabilities together with IT expertise to augment Converge's advisory offerings. It will allow clients deep insights into their organizational efficiency as well as enable them to deploy responsible GenAI at scale. Complex business challenges will be addressed through the three modules of QuantumSim™ — QS SecureGPT, QS Contracts and QS Benefits.
QS Contracts allows legal and procurement teams to quickly analyze contracts with LLMs, providing Converge's clients unparalleled insight into their contracts and IT ecosystem, ingesting thousands of contracts across an enterprise and assisting in rationalizing IT spend by identifying overlapping capabilities, inefficiencies, and redundancies. Additionally, this solution will allow business, legal, and procurement teams to interact with their contracts through public and private LLMs. QS ContractsGPT allows enterprises to:
- Establish a Source of Truth: By ingesting contract information from many sources including MSAs, EULAs, SOWs, Invoices, POs, and more
- Build Corporate Memory: Establish contract lineage, standardize terms and conditions across contracts, and preserve SME analysis and risk templates
- Reduce Risk & Redundant Costs: Evaluate inbound contract risks by comparing against supplier contract history and reducing overlapping product costs
Through QS Benefits, the partnership will positively impact Converge's clients across the healthcare ecosystem by standardizing benefits language and accelerating document discovery and analysis, ultimately leading to streamlined operations and improved member satisfaction.
"Converge is thrilled to be partnering with Forum Systems on this groundbreaking AI solution for our clients," stated Greg Berard, Converge Chief Executive Officer. "Artificial Intelligence is at the forefront of today's technology landscape and it's imperative to Converge to remain on the cusp of offering the latest innovations in AI and analytics. We're excited to bring this new offering to market and see it implemented with our valued healthcare clients."
Mamoon Yunus, CEO of Forum Systems, shares Berard's enthusiasm, adding, "Contract management and healthcare benefits are a perfect opportunity to showcase the power of LLMs. Combining the deep domain knowledge of Converge with our LLM expertise will prove beneficial to both organizations."
Source: Gartner, 10 Best Practices for Scaling Generative AI Across the Enterprise, Arun Chandrasekaran, Leinar Ramos, Alberto Pietrobon, 10 January 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Forum Systems is leading the Enterprise GenAI revolution. Forum's patent-pending QuantumSim™, together with Forum Sentry, mitigate the unpredictable nature of LLMs through integration with corporate APIs, ensuring LLM output is truthful and accurate. QuantumSim™ is secure by design and ships with industry-leading guardrails, moderation, data obfuscation, and observability for LLM-enabled offerings. Used by some of the largest global companies for building intelligent business workflows, Forum's suite of products provides unique solutions that allow enterprises to reinvent themselves with GenAI.
Converge Technology Solutions Corp. is a services-led, software-enabled, IT & Cloud Solutions provider focused on delivering industry-leading solutions. Converge's global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.
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