Market Demand for E-Sourcing; Reverse Auctions & Spend Analysis Fuels Growth for ProcurePort; ProcurePort Provides State of the Art Cloud Hosed Reverse Auction Software
Indianapolis, IN (PRWEB) August 28, 2013 -- ProcurePort, a leading provider of OnDemand e-Sourcing Software including Reverse Auction Software and services, is embracing 2013 as a banner year thanks to the growing acceptance of e-sourcing as a way to dramatically cut purchasing costs and streamline procurement. According to the Institute for Supply Management™ and Forrester Research, 85 percent of companies recently surveyed said they have made progress toward adopting the Internet for purchasing. Additionally, 46 percent said they use company-wide procurement tools. Utilizing e-sourcing, ProcurePort customers have saved from 8 percent to 32 percent on the goods, materials and services they purchase from global suppliers and increased process efficiency.
E-Sourcing is quickly gaining momentum among mid-market organizations as firms like ProcurePort target them with easy-to-use, on-demand sourcing services that provide substantial cost savings with minimal investment. According to Purchasing magazine’s recent Benchmark Survey on E-sourcing Strategy, the use of these services rose by 24 percent in the past year. In comparison, the use of non-hosted solutions that require integration into a company’s IT infrastructure rose by a mere two percent. The survey also indicated that this market is poised for continued growth as respondents stated that they plan to use e-sourcing for various spend categories.
An article in Industry Week further supports these trends. It notes that cloud hosted e-sourcing models that offer usage-based pricing are gaining popularity because they deliver deep functionality without expensive or time-consuming integration / implementation cycles. ProcurePort’s mid-market clients that benefit from this online procurement model operate in a wide range of industries such as manufacturing, energy, government, construction, agriculture, education, electronics, telecom, healthcare, retail and technology. ProcurePort’s unique combination of affordable, Web-based SAAS solutions for reverse auctions, spend analysis and e-RFI combined with expert customer support has positioned the company to emerge as a leader in helping organizations enhance their strategic sourcing initiatives.
“In today’s competitive marketplace, every company’s survival depends on tightly managing resources and operating efficiently. ProcurePort provides a viable answer to this challenge,” explains Jack Smith, ProcurePort Director. “Our procurement specialists can provide reverse auction services and spend analysis services facilitating online negotiations and analyzing results—or customers can choose to manage the entire process themselves through our self-service SAAS solution that provides reverse auction software and spend analysis software. Regardless of which service model customers choose, ProcurePort specialists can provide expert training to ensure that each implementation is a success.”
E-sourcing Trends
Because ProcurePort’s Web-based E-Sourcing solutions do not require expensive and time-consuming setup or integration, many of ProcurePort’s customers realize a return on their investment immediately after their first sourcing event. “This on-demand model is much more affordable than other alternatives and allows mid-sized businesses to benefit from the same online procurement technology that was previously only available to large corporations,” explains Smith. The rapid return on investment delivered through e-sourcing technology is one of the major reasons ProcurePort predicts that the strategic sourcing market will grow significantly over the next decade.
Founded in 2001, the company has expanded its service set from discrete online auction tools to complete on-demand sourcing solutions including providing sourcing and spend analysis services. In 2008, ProcurePort added a new facet to its service line by introducing its online marketplace solution that can be customized to launch e-marketplaces in vertical specific B to B and B to C markets. Since the company’s formation, its operations have expanded from a single staff member to 84 technology and procurement professionals.
As ProcurePort plans for 2014, conservative projections position the company to triple its 2013 revenue and customer base. The company’s primary focus in the next 24 months will be to continue providing the middle market with the most affordable, comprehensive and easy-to-use e-sourcing solutions available. Along with its global sourcing initiatives, the company will also focus on developing custom procurement applications to meet specific industry requirements. Early in 2014, ProcurePort will unveil a new version of its e-Sourcing suite that will include an upgraded user interface along with Contract Management and Source to Pay modules.
About ProcurePort
ProcurePort is a leader in providing on-demand e-sourcing solutions (Reverse auction software / Spend analysis software) and services (Reverse auction services / Spend analysis services) for the middle market as well as global 1000 organizations. Operating in a wide range of industries from manufacturing to government, ProcurePort’s clients benefit from both the technology and purchasing expertise that can help them significantly reduce costs and increase procurement efficiency. ProcurePort’s comprehensive software solutions use a hosted, Web-based interface to facilitate online negotiations without time-consuming or expensive technology integration. The company’s clients enjoy full access to sourcing, collaboration and analytical tools from any computer with an Internet connection. ProcurePort’s affordability enables mid-market companies to compete with larger organizations and reach new levels of success in spend management. For more information, visit http://www.ProcurePort.com or call 1.866.643.8153 (toll-free in North America).
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NOTE TO MEDIA: To schedule an interview with a ProcurePort representative to discuss trends in e-sourcing, online procurement, e-marketplaces, reverse auctions or forward auctions, contact Jack Smith: jack(dot)smith(at)procureport(dot)com.
Jack Smith, ProcurePort, http://www.procureport.com, +1 8666438153, [email protected]
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