- Platform
- Services
- Industries
- Company
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The client is a top financial services firm offering an array of solutions for wholesale market participants. The client has strong global footprints in over 20 countries and gained fame for offering high-quality services including broking and information.
The client was using a traditional trading method for illiquid commodities including energy, natural gas, and fertilizers. Now, the client wanted to automate its existing trading process and introduce auctions to increase the supplier’s participation and improve transaction-related process.
The current manual process for matching buyers and suppliers in illiquid commodities market was inefficient. It led to below par matching time-consuming events and missed opportunities.
The firm managed numerous transactions every day, making manual processes difficult and prone to errors.
The existing manual system was proven inefficient in matching buyers and suppliers for grabbing new opportunities.
The lack of automation in matching process resulted in reduced ability to attract and manage a broad supplier base.
Handling several sourcing events simultaneously is cumbersome for the client and there was a risk of errors.
Procure Suite’s E-Sourcing platform offered the client necessary configurability and advanced capabilities to run more than 4 sourcing event every week, with 100+ participants per event. Procure Suite gives the necessary training to the client to run the event by themselves. The client witnessed an increase in trading volume and overall efficiency after implementing this solution.
– Users can initiate and complete events quickly using intuitive interfaces and responsive auction engine
– It is easy to set criteria for qualified suppliers with a dynamic and automated process
– Cutting-edge matching algorithms based on configurable rules engine can handle complex auctions
– It can conduct multiple sourcing events weekly
– It supports large-scale participation in every event
– It facilitates auctions across diverse industries like energy and fertilizers
– It needs minimal training to enable companies to run auctions independently
The client could handle sourcing processes that lead to improved operational efficiency. Higher trading volumes in self-run events contributed directly to the company’s growth. The client could transform all procurement operations, achieve more efficiency, and market competitiveness after integrating E-Sourcing platform of Procure Suite.
Procure Suite is a comprehensive solution that includes cloud-powered E-Procurement solutions and strategic sourcing services. The Procure Suite Procurement Solution offers a user-friendly, robust, and advanced E-Sourcing toolkit to companies of any size.
Our Consulting services and flexible deployment options enable companies, irrespective of industry sectors, to improve spend management, automate procurement processes, and achieve excellence.
Our cloud-based, on-demand E-Procurement solutions provide companies with the highest level of data security and confidentiality as they are hosted in a robust and compliant data center.