Product News: Software
Auditing Software prevents non-compliant B2B purchases.
Press Release Summary:
September 4, 2014 - Enhancing eProcurement supplier price and product contract compliance functionality, vMarketplace Compliance Auditing module proactively alerts users when item price in catalog is above negotiated contract price or not included in contract. Module can provide real-time alerts, block non-compliant items at checkout or based on defined tolerance levels, as well as maintain historical price data for every SKU and display price trending. Module can also manage contract data and run reports.
Original Press Release
Vinimaya Prevents Non-Compliant B2B Purchases Before They Occur
Press release date: August 27, 2014
Vinimaya vMarketplace Compliance Auditing module enhances eProcurement supplier price and product contract compliance functionality
CINCINNATI – Vinimaya, Inc., a leading provider of cloud-based eProcurement marketplace and catalog management solutions, now proactively alerts users when the price of an item in the catalog is above the negotiated contract price or the item is not included in the contract at all.
The latest upgrade to Vinimaya's vMarketPlace Compliance Auditing module now provides real-time alerts for Vinimaya customers when off-contract items appear in search results or pricing exceeds negotiated agreements. The notifications can be set to display when items are returned from a web search, alerting shoppers that the item or pricing is out of compliance. Compliance Auditing also provides the flexibility to block non-compliant items at checkout, or allow based on defined tolerance levels.
Key functionality of the module includes:
Real-time alerts - for corporate shoppers when off-contract items appear in search results or pricing exceeds negotiated agreements.
Block non-compliant items - at checkout or allow checkout to proceed based on defined tolerance levels.
Track price history - maintain historical price data for every SKU and display price trending in vMarketPlace users' search results.
Manage contract data – contract data is included in the audit and price check. On- and off- contract identification is readily visible to highlight instances where suppliers are presenting non-contract items.
Run comprehensive reports – enhanced reporting capabilities to monitor over contract pricing and off-contract items – not only for items purchased, but also for every item retrieved in live search results.
"As part of Vinimaya's core value of continual innovation, the enhanced Compliance Auditing module significantly expands the ability to monitor over-contract pricing and off-contract items – not only for items purchased, but for every item retrieved in live search results," said Vinimaya CEO John Hutchinson. "The ability to automate price and product audits in real-time is an important supplier management functionality for procurement leaders that gives our clients the power to easily ensure they are purchasing approved items at the approved pricing, saving them both time and money."
Compliance Auditing is part of the Vinimaya's vMarketPlace suite of products. vMarketPlace provides a consumer-like shopping experience with dynamic access to all sourced items under contract from multiple sources – online suppliers, local catalogs and inventory items. Vinimaya vMarketPlace supports virtually any ERP or eProcurement platform and eliminates the delays, technical challenges and cost of managing numerous locally hosted supplier catalogs or supplier punchouts.
Vinimaya, Inc. provides innovative eProcurement catalog and B2B shopping technologies for both buyers and suppliers based on its patented vMarketPlace cloud-based solution. vMarketPlace combines patented parallel search capabilities, dynamic web content access, catalog management tools, actionable intelligence and a familiar B2C-like shopping experience for corporate shoppers. vMarketPlace integrates with most ERP and P2P systems, including Oracle, PeopleSoft, JD Edwards, Microsoft Dynamics and SAP, among others. Vinimaya is a Vora Group company with headquarters in Cincinnati, Ohio. For more information, visit www.Vinimaya.com.
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