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Buyer supplier marketplace

Procurify is building a buyer supplier marketplace to create an electronic data interchange (edi) function to further enhance the e-procurement market. Procurify is seeking a partnership to build a feature (the aforementioned edi) in line with a current client, asco industries.

The buyer supplier marketplace is a Electronic Data Interchange (EDI) function that will provide an extension to e-Procurement. The BSM will greatly improve Procurify's functionality by allowing organizations to connect with their vendors/suppliers in the Procurify system. ASCO Aerospace will benefit by being able to more efficiently fulfill their procure-to-pay cycle by connecting directly to their suppliers using the buyer supplier marketplace. The feature will allow buyers and suppliers to communicate in real time, using EDI, and send necessary documents – purchase orders and invoices, to name but two examples – electronically. Real time communication as well as the automation of the procurement process will minimize errors and improve compliance through the marketplace EDI. This process will also alleviate cumbersome paperwork, improve back-and-forth communication and greatly decrease the time required to procure essential goods and services. Additionally, this will make suppliers and vendors easier to find, thereby creating new business connections. The buyer supplier marketplace will also improve the quality of goods and services for all buyers. Essentially, Procurify is looking to develop a robust marketplace intended for suppliers and buyers that will allow the entire procurement process to be conducted directly in the cloud-based EDI marketplace. Through the marketplace, organizations looking to purchase a good or service will be able to find suppliers and connect with them. Processes within procurement, from requesting a quote, to sending requisitions, to receiving a product, will experience better communication and compliance through the use of Procurify and the EDI marketplace. A buyer supplier portal will help foster a sense of community between organizations who will be able to rate buyers and suppliers on their quality of work. Greater access to information on potential suppliers will allow purchasers to make more informed decisions while rewarding suppliers and vendors who do good work. The proposed marketplace will allow Procurify to provide even more value to its users. ASCO Aerospace will benefit from the marketplace because it will foster better communication with their vendors, gain more visibility into their spending and establish even better purchasing practices. That partnership will provide Procurify with critical insights into what the European market wants, as well as provide the company with a perfect test case for the new platform. The knowledge gleaned from the project will be critical for Procurify to grow internationally. ASCO Industries wishes to become a partner on the project in order to receive an innovative feature that will help streamline their entire procure-to-pay cycle. Furthermore, both ASCO Industries and Procurify believe the European market will benefit from the creation of an EDI function for the European sector - the EDI will promote faster communication, information transfer between companies and the logistical organization when international buyers purchase from European companies.
Acronym: 
BSM
Project ID: 
9 580
Start date: 
30-06-2014
Project Duration: 
6months
Project costs: 
60 000.00€
Technological Area: 
Computer Software technology
Market Area: 
Computer Software

Raising the productivity and competitiveness of European businesses through technology. Boosting national economies on the international market, and strengthening the basis for sustainable prosperity and employment.