Online marketplaces are internet-based portals where buyers have access to multiple suppliers for the purpose of purchasing goods and services. In many cases these online marketplaces have led to significant benefits including;
- the reduction of procurement costs
- the reduction of procurement cycle times
- an increase in the supply base, and
- a reduction of inventory costs (just to name a few)
Vinimaya is a B2B, business to business, marketplace that I’ve had some exposure to. It was implemented as part of a project, at a large government contractor, that I was part of. Vinimaya is a procurement marketplace that allows you to view needed products across multiple catalogs concurrently, including: supplier eCommerce sites, internal catalogs, and static catalogs (catalogs hosted on the Vinimaya marketplace through an upload of a spreadsheet from the supplier).
Vinimaya provides a variety of tools to help improve your procurement experience and leverage the data captured. Their toolset allows you to:
- Reduce the burden of catalog management
- Provide analytics to help better manage your spend
- Deliver audit capabilities to verify the price you’re paying is the price on the supplier contract
- Provide the ability to shop the Vinimaya marketplace using a mobile device, and
- Rank item search results based on the value to the user
Because of the user friendly “B2C” (Amazon-like) feel of the Vinimaya marketplace, adoption by your end user community is boosted. Your online supplier base is broadened by enabling your suppliers, who don’t have the technology to host their own eCommerce site, to upload their catalogs through the use of an Excel file to the Vinimaya marketplace.
Vinimaya reduces the burden on your purchasing department because it is able to host supplier catalogs or connect you directly to your supplier’s eCommerce web site, reducing the maintenance and management of in-house catalogs. Your IT department’s workload is reduced by eliminating the need to maintain connections to multiple supplier eCommerce sites. Your IT department makes the initial connection to Vinimaya and Vinimaya handles the connections to your various suppliers.
As I mentioned earlier, BTRG recently assisted one of our clients with the implementation of Vinimaya. Based on conversations I’ve had with the user community, post go-live, several benefits have been realized, including:
- The ability to see products from multiple vendors concurrently as a result of Vinimaya’s vSearch
- The ability to include small mom and pop vendors, who don’t have their own eCommerce web site, in the Vinimaya marketplace through the use of static catalogs
- The ability to see the specific vendor contract ID for the item and price being presented to the user in the search results
- The ability to search across multiple types of catalogs:
- Static catalogs (loaded to the Vinimaya marketplace using a spreadsheet)
- Web catalogs (supplier eCommerce web sites)
- Internal catalogs (the client’s inventory catalogs)
- Vinimaya has enabled our client to reduce the size of their internal catalogs which in turn has reduced the administrative effort of setting up items (because they can order directly from the supplier’s eCommerce web site or static catalogs loaded to the Vinimaya marketplace).
Please don’t hesitate to post comments or questions here. Or, to learn more about Vinimaya please join us for a joint webinar with Vinimaya on September 20th. To register for the webinar please contact Stephanie Lines at email@example.com