Changing procurement for a brave new world

Alun Rafique CEO & Co-founder and Nicholas Martin CTO & Co-founder, Market Dojo

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There have been plenty of challenges in the past few years, but the Covid-19 crisis is different. It has reached every consumer without discrimination, sending a shockwave up the supply chain to affect every company worldwide. Now is the time for them to act to protect themselves for the future.

 

“With access to the right data, companies can react quickly to manage their risk and their costs,” says Alun Rafique, CEO, Market Dojo. “Procurement are the new heroes, saving their organisations cash when sales are dropping.”

 

There are three important areas where procurement software provider Market Dojo has seen businesses focus during Covid-19:

 

• Optimising cash flow

 

• Collaborating both internally and externally

 

• Improving supply chain resilience

 

Market Dojo believes there is a better way to help procurement teams mitigate risk, manage information and minimise costs outside of using emails and spreadsheets: allowing them to master supply chain decisions.

 

Market Dojo’s software can empower procurement professionals in their operational and strategic activities, from supplier onboarding to running tenders and managing their contracts. Some of Market Dojo’s best-known customers include Paddy Power, Aggreko and Logitech.

 

By assisting with storing important information online, such as contract renewals, and enabling users to negotiate online, the software helps clients to not only save money but also reduce their costs. 

 

Market Dojo recognises that virtual teams are the new norm – and that they need modern online tools to overcome new challenges, and help simplify internal collaboration with stakeholders and external innovation with suppliers.  

 

For many companies, the focus during Covid-19 has been supply chain resilience. With accurate data and tools such as Market Dojo, risks can be quickly identified and evaluated. Potential supply chain options and opportunities can be uncovered, along with alternative strategies such as nearshoring, that can be developed and rapidly implemented with tracking and auditability.

 

“One place where a lot of our clients start is with a reverse auction,” says Nicholas Martin, CTO of Market Dojo. “It is not unusual for a client to spend £500 and save 10 to 20 per cent on their goods or services.”

 

Market Dojo is optimistic for the future and excited about how procurement is evolving to meet the demands of this brave new world. As former Intel CEO Andy Grove pointed out, “Bad companies are destroyed by crises; good companies survive them; great companies are improved by them.” 

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Can Market Dojo help with your procurement processes? Book a demo today.