Vinimaya is ready for its latest procure-to-pay tool to go live. The company said Wednesday (March 9) that the solution, aquiire, will debut with live demonstrations at two upcoming industry events this month.
The aquiire tool is reportedly the first to offer real-time search capabilities across multiple catalogs for procurement officials, as well as ensure adherence to corporate procurement policy. Vinimaya’s focus is largely the usability of the solution, with an interface that allows procurers to find the products they want in fewer clicks.
It’s a digital procurement platform developed with various partners, Vinimaya said, and combines Vinimaya’s existing supplier management and analytics services.
Aquiire also links businesses with spend analytics, payments, digital invoicing and purchase order dispatch and integration into existing accounting and ERP solutions deployed by a company.
In a statement, Vinimaya CEO and President Mike Palackdharry said the tool makes it the first and only of its kind to deliver “real-time supplier management, search, guided buying and intelligence shopping compliance needed for organizations to achieve true control of their procurement purchasing processes.”
The solution will see its debut first at the Procurement Leaders National Congress this week and again at the Global Procurement Tech Summit next week, the company added.
The eProcurement solution follows Vinimaya’s release of a whitepaper uncovering the key points of friction that buy-side organizations face in the market today. In an interview with PYMNTS last October, Vinimaya Head of Account Management Donald Carrington pointed to the lack of visibility that procurement officials have when going through the source-to-pay process.
“It’s helpful to take a holistic look when designing and implementing a successful eProcurement program and to understand the impact it will have on the organization,” he explained. “Simply implementing a full P2P solution without understanding the key goals and metrics for true success can be disastrous in terms of lost revenues, time, resources and internal credibility.”