Why VPs and Directors across America are moving to eProcurement.

During these tough economic times, college and university VP’s of Finance across America have discovered that one of the easiest and most effective ways to cut costs is to change the way they work with their strategic suppliers. For universities and colleges, these typically have included low dollar, high transaction volume products such as office, lab, and electronic supplies, as well as, computers, travel, and furniture.

They are creating their own marketplaces, allowing them to gain better control and increased visibility of their college community spending. These marketplaces, when implemented correctly, ensure that your community is buying the right products at the right negotiated prices without mandates; reduce human error and labor costs; and are currently saving our customers a good deal of money. These systems have given these VPs and Directors the opportunity to realize big savings that they are able to document, categorize, quantify, and demonstrate. Today, these money saving marketplaces have become so common place, if you don’t have one you risk looking behind the times.

The wrong eProcurement vendor can cost you your job
Get the facts

The reality is that currently more and more VPs and Directors are realizing that going with the wrong choice in technology partner has literally cost some VP’s and Directors at major Universities their job. Today, they are “doing their homework,” enabling them to see though all the venture backed “hype.” They are calling references; value experience and seek simplicity in technological design. They are getting the hard facts.

VP’s are discovering that most vendors, including ST’s largest competitor, promote systems that have turned out to be far too complex for community users. While these vendors assure them that they are “easy” to use, the reality is that colleges and Universities have found that these marketplaces require extensive user training; have complicated aggregated catalogs; and are difficult and resource intensive to maintain. The very complexity of these systems has invited all kinds of technical problems and all these issues combined have led their community to work “around” the marketplace instead of using it. Universities have been disappointed by new “promising” vendors year after year, who enter the Higher Education market rapidly only to exit even faster in frustration. The fact is that new vendors have consistently lacked the experience and patience to be able to work with the complexities and long decision-making processes of Higher Education institutions. The result has been that as they increasingly turn their attention to other sectors of our economy, they are leaving a trail of unsupported Higher Education systems in their wake.

VP’s across the country are beginning to turn to ST to “fix” these problems and provide a solution that is simple, effective, one that their community actually likes and will use.

Consortium Marketplaces
ST is leading the way again in Higher Education eProcurement

The team at Sollod Technologies has been pioneering eProcurement technology since 1993 at MIT. Most recently, Sollod Technologies has taken the university marketplace concept, that it helped pioneer, and is now leading the way again. ST is taking a giant step forward with its patent pending technology designed specifically to create a “Consortium Marketplace.” While our competition likes to see what we do and often tries their best to follow suit, the fact is the consortium concept began right here at ST. No other vendor has our technology designed specifically for Consortia. Don’t be fooled by risk inherent “imitations.”

A Consortium Marketplace is similar to the “Your Marketplace” concept described below, but in this case you work together with other colleges, universities, and organizations in your area to negotiate the best regional or national contracts you can. The Consortium marketplace is based on the same platform, but tailored to meet each school’s unique requirements.

Sometimes you might leverage existing contracts, or ones negotiated by a group purchasing organization, or work together to get a new deal. Once you have it, ST can deploy a shared marketplace that allows for all participants to access the deals, while allowing those willing to invest more to achieve a more customized experience.

In addition, our technology makes it dramatically easier to add both schools and vendors - whereas previous technology for marketplaces required more complex setup on both sides. Our proprietary systems dramatically reduce this effort. This benefits the initial members and simplifies expanding the effort.

ST’s patent pending technology enables Universities and colleges to pool their buying power “regardless of size” seamlessly into one large Consortium Marketplace. The size and scope of your Consortium Marketplace is up to you and your Board and since we can incorporate any size school the sky is the limit. VP’s and Executive Directors of their consortia who take part will realize unprecedented savings and tremendous buying power.

Your Marketplace
A standard application that looks and feels custom

Our team has been delivering software as a service eProcurement solutions since 1997. We deploy and manage an e-commerce cloud where your end-users can interact with your strategic suppliers, without your having to install and maintain software and hardware.

Building your own marketplace is a great way to capture eProcurement benefits now while you pull together a consortium of your own to further push savings.

Your marketplace is built on Sollod Technologies proprietary platform, and configured to meet your custom requirements. From the home page of the application you can see all the key strategic vendors you are authorized to purchase from. It enables users to flow easily in and out of supplier e-commerce sites. Your vendors electronic commerce systems’ are capable of authenticating and authorizing your users to access a system where they view your products and prices.

The solution is a standard application so it is the simple and very adaptable design that VP’s seek, yet it looks and feels as though it were built custom for your environment. It has your rules; your chart fields; your vendors; with an easy to use interface that requires almost no training.

Your vendors provide seamless access to their ecommerce systems via a process known as punchout to you at no additional charge. The marketplace avoids using large, cumbersome, costly and ineffective aggregated catalogs, which vendors and communities alike dislike. Smaller vendors without this technology can still have agreements with your Consortium, and the marketplace is flexible enough to support them through other channels.

Deploying a marketplace using the ST platform is the most proven, quickest, lowest risk means of capturing the savings that eProcurement has to offer you.

Supplier Punchout and e-Commerce Solutions

Vendorca is the sell-side of Sollod Technologies. If your organization needs a punchout catalog, we can help. Vendorca has expertise in punchouts and e-commerce dating to 1994. Our methodology allows you to customize the look of your catalog, while maintaining control over the user experience. Our solution is optimized to help you reach your customers in new ways. We can even help you set up a b2b or b2c electronic catalog.

Vendorca is the electronic bridge between you and your customers. Our catalogs are configurable and easy to use. We seamlessly exchange electronic orders and invoices, while managing the entire punchout process. Our expertise can also help you displace or work with traditional EDI systems.