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