- On average 70% of a company’s revenues are spent with their-party suppliers
- Less than 75% of third-party spend is actively managed
- Effective management of spend can on average release savings of between 7-12%
- Gain full control of every part of the procurement cycle to support recovery and growth
London, Tuesday 23rdFebruary 2021. A new cloud-based procurement software system, ‘oboloo’, has launched this week. It is the first eProcurement software designed specifically to give Small and Medium Enterprises (SMEs) better control of their suppliers and contracts via a single secure platform. It provides full visibility and control over every part of the procurement cycle from sourcing and contract management through to on-going supplier management and savings. Additionally, oboloo enables businesses to promote their own values directly to suppliers.
Designed by a team of procurement, data and product professionals, oboloo is an intuitive procurement software that enables any business to be supplier smart.
oboloo’s self-service platform enables businesses to easily create and evaluate sourcing activities, record and access all contract information, manage supplier compliance and performance and monitor savings. Real-time dashboards and workflow notifications help to prioritise what needs doing and by when.
On average 70% of a company’s revenues are used to buy goods or services from suppliers[i], yet less than 75% of third-party spend is actively managed.[ii] Effective management of third party spend can on average release savings of between 7-12% and can have a direct impact on the bottom line[iii].
James Lancaster, Co-Founder of oboloo commented: “Suppliers are an essential part of every business. Yet all too often they are overlooked, and as a result there is little or no consistency, transparency, or control over how suppliers are selected or managed”.
“Covid-19 has exacerbated these challenges as SMEs struggle to maintain margins and supplier knowledge gaps emerge as a result of employees being out of the business.”
“Our goal with oboloo is to simplify the whole process, ensuring SMEs have accurate and up to date information at their fingertips so they can make the best business decisions to stimulate recovery and ensure growth.”
oboloo uses state-of-the-art data servers, including AWS™, with dual encryption, automatic 24-hour back-ups, two-factor authentication and additional security levels via Cloudflare™ to support optimum data protection.
Businesses can learn more and register for a free 30-day trial at www.oboloo.com