Innovation for manufacturing companies: presenting the results of the NUPP project
The project “pandemic risk and impacts on manufacture companies' financials - New Productive Process", co-financed by the Italian Programma Operativo Regionale (POR) FESR 2014-2020 “Investimenti a favore della crescita e dell’occupazione” -. Attività 1.2.a. – Linea d’intervento 1.2.a.1. – Bando 2020 - Incentivi alle imprese per attività di innovazione di processo e dell’organizzazione, and with an assigned contribution of €85,046.40 and lasting 12 months, saw modefinance analysts engaged in research and analyses of the pandemic risk and its impacts on financial statements, focusing on manufacturing companies, getting to a definition of new systems and especially of a new production process (NUPP, NUovo Processo Produttivo).
Drafting the project, the objective was clear early on: to provide the Italian manufacturing companies with effective tools to respond to the crisis.
Starting from September 2020, our resources dedicated to NUPP had in their sights the development of a new production process, to put on the market a tool for analyzing the supply chain risk. And that's how it ended up, in August 2021.
Thanks to the advanced AI technologies, and the expertise a Fintech Rating Agency, able to automate the creditworthiness assessment, we immediately focused on a data integration platform, to evaluate the probability that negative economic situations affecting components, upstream and downstream, may have significant or even incontrovertible impacts on the operations of the company itself.
The opportunity to adopt and adapt tools we already developed was very clear, such as a platform capable of digitizing risk analysis processes -Tigran- together with a model that includes data science and Machine Learning for the prediction of risky situations -ForST.
On one hand, Tigran Risk Platform is a cloud solution already part of modefinance offering, and represents an excellent reference base for the banking and the business world in the digitization of internal procedures related to financial management. Recently, it has been patented thanks to its modularity and extreme flexibility, in addition to a concrete cut in resources and computational savings.
The ForST model, on the other hand, represents an unicum in the Fintech panorama, already validated by the market in unsuspected times as a decision support tool for organizational stress-testing and economic-financial strategies.
The entire project coincided with a clear and real objective by the companies themselves, as well as sector associations: changing their production processes and the distribution/commercial approach, at all levels.
Analyzing, testing, subsequently refining and giving back an answer returned to us a very specific direction to go to: the transposition of the shock model towards the industrial world had to be developed in a new service line dedicated to companies in the manufacturing sector (and, in detail, the metal-engineering sector) with the focus on a new reports' production process to be provided to the reference market, capable of identifying trends and critical situations in the supply chain.