Tag: sourcing

How Automation is Shaping the Future of Enterprise Procurement

Enterprise procurement transforms automation, driving speed, efficiency, and cost savings. This is a handy tool for companies sourcing and buying; it saves time and money. Automation revolution presents the axiom trade platform and how it supports consumers during the transition.

Why Automation Matters in Procurement

Conventional procurement includes manual activities such as finding suppliers, negotiating contracts, and placing orders. These processes are time-consuming and error-prone, creating delays and increasing costs. 

Automation makes those tasks more efficient by replacing manual effort with software that can do things automatically at high speeds. That is good news for businesses as it translates to reduced operational expenses and swifter response from supply chains. 

According to a recent survey, 70% of procurement leaders are frustrated with a lack of visibility and manual processes and would like a more automated solution. Automation technologies, such as the Axiom Exchanges platform, can help resolve these problems in a user-friendly manner, ensuring procurement requirements are under control.

Axiom Exchange Platform

The Axiom Exchange is an AI-enabled marketplace for enterprise procurement. It automates tail spend, the small, frequent purchases that can be difficult to track. It combines sourcing, catalog management, and supplier collaboration in a single solution, simplifying the use of multiple tools. 

Businesses can create a controlled atmosphere for the buying of goods and services, making sure they are compliant, and purchases are efficient. This centralized method saves time and costs by up to 50% in some situations, which is a valuable resource for any business, large or small.

How to Use Axiom Exchange

Using Axiom Exchange is easy, even if you’ve never done programmed procurement. Here it works: Companies join the platform and set up various procurement settings, including ideal suppliers and budget restrictions. 

The system subsequently permits the user to search through catalogs, request quotes, and place orders with minimal clicks. It’s guided buying software makes it easy to evaluate whatever you’re buying, with guidance on suppliers by cost or reliability. 

Axiom Exchange trading features offer real-time analytics and automated approvals so users can monitor spending and ensure orders align with company policies. Users also have a dashboard guide that helps them onboard step by step.

Axiom Exchange Review

User reviews praise the platform for its ease of use and speed. According to Axiom Exchange review information, businesses are delighted with the ease of automating their manual work and improving supplier management. 

Organizations speak of massive time savings; some even say that 90% of their indirect spend is automated. The platform integrates with other systems, such as ERP software, which allows for flexibility in industries like healthcare and retail. 

But some users report that advanced functionality has a learning curve, and that training is recommended for best use.

Is Axiom Exchange Secure?

Purchasing security is crucial, so the query “Is Axiom Exchange safe?” is common. The system is built on enterprise-level encryption and verified supplier security for data and transactions. 

Its non-custodial nature means merchants control their funds, minimizing risk. Additionally, adherence to industry standards and routine audits maintains its safety profile and has built trust among companies.

Final words

The future of enterprise procurement is automation, driven by tools like the Axiom Exchange. Their mission is to make businesses more competitive by automating repetitive tasks that help employees make better decisions while keeping information and assets safe. 

The consumers get faster services and reduced prices, and in return, the producers end up with an automated procurement business- a win-win for both.

Kwayga.com, the fastest supermarket supplier sourcing engine, closes €1 million funding round

Kwayga.com, the fastest supplier sourcing engine for supermarket buyers, has successfully closed a funding round, with a €1 million investment in the company, led by The Redesdale Food & Beverage Fund.

Cork-headquartered Kwayga.com enables supermarket buyers to cut their sourcing times by 40% using its game-changing supplier sourcing technology, achieving in minutes what previously took months.

Mike McGrath, Co-Founder and CEO of Kwayga.com, a forward-thinking leader in the realm of eSourcing, who has made it a mission to revolutionise the way supermarkets across Europe approach buying said:

“Redesdale’s investment is a huge vote of confidence in our groundbreaking technology. This partnership will significantly accelerate our growth across Europe as we continue to build high value relationships with significant UK and European buyers, reducing their sourcing time and costs by rapidly connecting them with the best European suppliers. This funding will be used to scale our team and continue to grow our product.”

Michael Cantwell, a Partner in The Redesdale Food & Beverage Fund said; “Redesdale is delighted to invest in Kwayga.com. We are excited about the expertise of the team and their exceptional technology which solves a key buyer pain point. It will be a game changer in how suppliers are sourced in the supermarket sector.”

Kwayga.com was founded in 2021 by Mike McGrath and Martin Fitzgerald to provide a sourcing engine for Supermarket Buyers to engage them with perfectly matched private label and trending product suppliers in European markets where they would not previously have had visibility.  It does this faster than ever seen in the sector, finding high quality product and supplier solutions quickly.

Buyers use Kwayga.com to cut 40% off their sourcing lead times, get new product requirements on shelves in record time; replace existing products when necessary; and for targeted cost saving programs. It already counts the main Irish supermarkets and several UK supermarkets as its customers, and has in excess of 80,000 suppliers on its database.

The Redesdale Food & Beverage Fund is a venture capital fund established by some of Ireland’s best known and most accomplished financiers, business leaders and commercial scientists. Investors in the fund include Enterprise Ireland, Lord Abbett, Musgrave, Coca-Cola, Monaghan Mushrooms, and Tate & Lyle. The fund targets food, beverage, and nutrition companies, led by ambitious entrepreneurs.

To find out more visit www.kwayga.com.