CINCINNATI, July 19, 2017 /PRNewswire/ -- Aquiire, Inc., the leader in real-time eProcurement and supplier relationship management solutions and recent winner of the 2017 Institute of Finance and Management (IOFM) Game Changer Award, has released a new white paper entitled The Top Ten Ways Real-Time eProcurement Matters. The paper explains why real-time data in procurement is essential for meeting procurement software users' needs in the "now economy" and for driving adoption, compliance and untapped savings.
"We live in a fast-paced, consumer-driven world that increasingly demands immediate information and results, and we are dedicated to helping procurement leaders rethink and improve their traditional indirect eProcurement business models," said Kevin Smith, Aquiire VP of Marketing and Alliances. "Advanced real-time functionality and competitive comparison shopping in B2B e-commerce are essential to drive user satisfaction and compliance, as well as fully deliver the hidden savings opportunities on indirect spend."
Smith said some of the top ways real-time data advances traditional eProcurement systems include:
- Single B2B marketplace where all preferred suppliers are searchable and shoppable
- True comparison and compliant shopping with lower-priced approved alternative suppliers
- Instant validation of negotiated contract pricing and spend visibility
- Vastly improves supplier relationship management and purchasing automation
According to Smith, the Aquiire analysis team continues to collect valuable customer data revealing impressive savings opportunities when they employ a competitive product and pricing strategy in the Aquiire real-time marketplace environment. Smith said that their customers are seeing an additional 8% to 9% savings on indirect spend using Aquiire's exclusive alternative supplier pricing functionality—which is impactful as their customers typically spend hundreds of millions of dollars per year.
About the Aquiire eProcurement Suite
Aquiire's intelligent real-time Procure-to-Pay suite brings the convenience and simplicity of the consumer shopping experience to the business user with unparalleled compliance and savings. Aquiire features patented universal search and shopping, machine learning, actionable intelligence and collaborative supplier enablement solutions. Aquiire's best-in-class, intuitive user interface and real-time low-price comparisons from alternative suppliers deliver untapped savings on indirect spend. The real-time processing of structured and unstructured data also powers advanced capabilities, like instant alerts, risk analysis, analytics and price/product compliance enforcement.
About Aquiire, Inc.
We are more than procurement thought leaders and disrupters. We are technology entrepreneurs and innovators. Aquiire's eProcurement platform was developed through real-world partnerships with procurement leaders from some of the largest global enterprises and public institutions. We believe procurement should move as fast as your business and real time matters. Aquiire is an Oracle Integration Gold Partner and the winner of the 2017 IOFM Game Changer Award, recognizing companies that meet the highest standards of design, ease of use and conformance to appropriate accounting standards. Aquiire is MBE Certified and one of several portfolio companies of Vora Ventures. More information is available at www.Aquiire.com. Twitter: @Aquiire.
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