Market Dojo enhances its on-demand eSourcing solution due to increased need

SOURCING, ESOURCING, RFX, ON-DEMAND, IMPROVEMENTS, Press release, enhancement
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Improved user self-service capability with instant access

UK, Bristol  – 2 November 2021 

Market Dojo, a UK based SaaS procurement software provider, has announced their on-demand eSourcing solution has been enhanced, making it even easier for new users to gain instant access through self-serve with the ability to set up new events instantly. 

Market Dojo has enhanced their eSourcing solution making it more intuitive and further removing barriers to running sourcing events, where it is common for average savings of 16% to be made for general eSourcing and 21% for auctions [1]. The enhancements have been made due to increased demand for Market Dojo’s eSourcing solution since the Covid-19 pandemic began, where the need to digitise processes and create cost savings was brought further to the forefront. 

During the first 6 months of the pandemic from January 2020, demand for auctions increased by 65% as organisations focused on driving cost savings. As organisations moved towards a more proactive stance to understand the risks within their supply chains, RFQs peaked during March 2021 with a 339% increase when compared to the beginning of the pandemic in January 2020.  

Market Dojo’s eSourcing solution allows procurement teams to run RFQs, questionnaires (which cover RFIs, PPQs and RFPs) and negotiate via on-demand auctions. This enables users to identify the most suitable suppliers in the market, with the ability to analyse data to consider varying criteria such as cost savings, quality, time to deliver, and risk.

Alun Rafique, CEO and Co-Founder, Market Dojo said: “During the past 18 months, procurement professionals have needed more than ever to respond to rapid changes in supply chains to manage risks and costs. Whilst emails and spreadsheets work for many procurement processes, they can present difficulties with the need to react quickly and make informed decisions.”

Rafique continued: “We witnessed organisations take reactive and proactive measures with their eSourcing events due to the pandemic. Continuing with the eSourcing flexibility we already offer and the increased need for digitalisation, coupled with the world continuing to move forward in an instant, self-serve environment, we decided that we would further improve the ability for our users to access and get started with our eSourcing solution. We are proud to have been able to help organisations in these troubled times.”

Taking onboard the additional demand and customer feedback, the eSourcing solution enhancements include:

  • ‘Sandpit’ test environment – Market Dojo’s unique sandpit environment allows users to set-up and test their auctions before they go live. This now includes one button click functionality to clone to live and a ‘Start auction now’ option, creating further convenience and time savings for users.
  • Support guidance – when signing up, users interested in eAuctions are placed straight into an ongoing auction within Market Dojo’s sandpit, where bids are automatically placed. Users can also choose to enter an example auction from the ‘New event’ button to provide additional clarity on the process.
  • Improved payment process – the UI for the payment process has improved, allowing on-demand users to self-serve and gain instant access in only a few clicks. 
  • Updated on-demand single-event licencing for a one-off £500 – perfect for those organisations with the occasional need to run an auction or for those who want to validate savings that can be made ahead of committing to an annual licence. 
  • Quick and easy event creation – users now have the ability to proceed to auction from a RFQ with ease. 
  • Intuitive display of host and participant information – UI improvements ensure relevant information is only displayed at the time it is required. Participants can access detailed information ahead of the start time to help them prepare for the online auction and how the process will work, avoiding confusion and saving hosts time. 

To learn more about Market Dojo’s eSourcing solution, or how any of their additional supplier engagement solutions can help your business, get in touch with a member of the team today at info@MarketDojo.com.  

– End – 

[1] Source: Average savings for general eSourcing and auctions – depending on whether the auctions are ranked, open or Japanese. Market Dojo, 2001-2021.

November 2, 2021

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