CINCINNATI, Jan. 12, 2017 /PRNewswire/ -- Vinimaya, Inc., a leader in B2B e-commerce and supplier relationship management solutions, experienced 2016 sales results that were an increase of more than 300% from the company's previous best year. The growth was led by strong market adoption of its new Aquiire eProcurement suite, offering patented universal shopping capabilities which deliver a real-time, consumer-like shopping experience that keeps internal buyers from opting out for more expensive and less compliant external purchasing options.
"Whether it is real-time guidance around road traffic jams or a live view of in-store product availability, we all increasingly expect to be engaged in an exchange of accurate 'in the now' information to makes our lives easier," said Tulsi Zeidman, Vinimaya Head of Strategic Solutions. "Unfortunately, current B2B buying processes in the workplace aren't able to live up to this 'speed of now' expectation, so many users ultimately opt out of internal purchasing systems and organizations miss out on savings and control."
Aquiire has made particularly strong inroads within Fortune 1000 companies and the higher-education market due to inflexibility of incumbent solutions and an increasingly complex regulatory environment that requires high internal purchasing process control and audit capabilities. Beyond regulatory compliance concerns, rogue purchasing done outside an approved purchasing process is a real cost issue for large organizations. Recent research from Ardent Partners has determined that for every dollar that's spent off-contract, there's an average loss of between 12% and 18% to the enterprise.
"Companies are realizing that they can solve their 'last mile' user shopping issues through a quick hit, high ROI Aquiire project that overlays existing ERP and procurement infrastructure while still providing a path to a complete, modern P2P solution in the future," said Vinimaya CEO Mike Palackdharry. "With a new leadership team now in place and the Aquiire software solution gaining traction in the market, 2017 is shaping up to be a breakout year."
The Aquiire P2P software suite was built from the ground up as a real-time solution to meet increasing "speed of now" user demands. The main weaknesses with current eProcurement platforms that drive users outside the system include complex or manual ordering processes, inaccurate product and supplier data and archaic B2B marketplace functionality that isn't keeping up with consumer purchasing expectations. Since the Aquiire real-time, universal shopping capability can be implemented as either a targeted, point solution or the first phase of a complete Aquiire P2P eProcurement solution, user adoption benefits can be realized quickly.
About the Aquiire Real-Time P2P Suite
Aquiire from Vinimaya is the only true real-time P2P suite in the industry. Aquiire's intelligent eProcurement platform features patented, real-time universal (cross-catalog) shopping, data aggregation, analytics, guided buying and supplier relationship management (SRM) solutions. Aquiire provides an uninterrupted consumer-like shopping experience while applying specific guided-buying and compliance rules to present appropriate items based on specific procurement strategies. More information is available at www.Aquiire.com. Twitter: @Aquiire.
About Vinimaya
Vinimaya is a MBE-certified technology company and a thought leader and innovator of real-time B2B eCommerce solutions for some of the largest organizations in the world. The company is dedicated to a solutions-focused, collaborative approach in working with their global customers. Since 2000, Vinimaya has been developing personalized, cloud-based technology solutions designed to solve their customers' unique business challenges.
Vinimaya is one of several portfolio companies of Vora Ventures, which was recently named the Technology Company of the Year in Cincinnati.
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SOURCE Vinimaya, Inc.
