One of the many beauties of providing SaaS technology is that our clients don’t need to spend time mass updating their systems and reinstalling the latest release of our software. We are a multi-tenanted application, meaning that there’s always one version of Market Dojo available to everyone.
This doesn’t mean that new features and benefits aren’t being released. Any little nuances you find with our software are all logged via our support portal (check out this article on how to log issues and the processes we follow to deal with them).
Our development team have been working very hard for this release to bring you a list of new features which we hope you’ll love…
Hyperlink documents in Questionnaire export report
Within Market Dojo, there are a number of types of question you can ask your suppliers. One of which allows you to reference a document. After the event has ended, the host is then able to download a report of the event.
This update allows the event host (buyer) to click on the specific document that has been referenced and easily see the related one. This can save reviewers a lot of time, as it makes it much easier to check the documentation before giving a score.
Re-invite participants in SIM Dojo
This update allows you as a host to resend the instructions to a supplier on how to onboard to SIM Dojo so as to prompt a Participant who has not answered.
This feature exists in Market Dojo, and will now work in a similar way within our onboarding solution with an option to ‘re-send invite’ to participants. The option will not be visible after participants accept the invite.
For suppliers, this will improve their experience by creating a reminder for them to respond. For hosts, this makes it much easier to chase up late suppliers.
Enter in participant email addresses manually
Market Dojo has a number of ways to add participants to an event. Until now adding them by email address manually could be quite slow, as it needed to be done one by one. Now, you can enter (or copy and paste from Excel) several email addresses in one go. The system will even suggest addresses from your participant database. This is something several customers have requested, and will mean event setup can be completed faster.
Along with that, many other issues that you’ve kindly raised with us have been fixed. And as ever, we love showing you how proud we are of these features. Keep the demo requests coming in so we can hear your feedback and show you how to get the most out of our intuitive eSourcing tools.
Don’t forget to BOOK A DEMO NOW!
Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!CIPS up in a brewery
On Thursday 16 April Market Dojo attended CIPS Bristol event at Butcombe Brewery. I had not attended a CIPS Bristol event before, but was in the area and my colleague, Nick, had organised our attendance.
The journey from Market Dojo HQ to Butcombe Brewery took us along the M5, and then through some of the beautiful countryside around Bristol.
We arrived at 7pm for 30 minutes of networking before the tour. The room where we congregated had a long bar, and interesting information on the history of the brewery. Everyone in attendance was friendly and anticipating an interesting evening. After some procurement related chit chat the tour started!
The tour was lead by Martin Love and started with a 10 minute introduction in the bar. Martin was clearly passionate about the brewery, and had a wealth knowledge about all aspects of the business. As a keen beer drinker, I found the talk fascinating. The talk covered history, business aspects and then moved on into the process of making beer. We then toured the brewery, following the steps in the process from the arrival of the hops, the importance of the water and how the barrels rotate through the supply chain.
Butcombe brewery do supply some beer to Tesco, and Martins explanation of the negotiation process and all the factors involved was particularly interesting to the procurement audience. Butcombe maintain a ratio so that they do not become too reliant on one customer and can retain a balance of power.
After the tour, we returned to the bar for an opportunity to sample the beer. As my colleagues were both driving, I did my best to maximise the amount of sampling that I did, encouraged by the team from the Brewery. This gave us another chance to chat to the other attendees and the team from the brewery. I learnt some great facts about cider apples, and that Butcombe’s new Czech style Pilsner is preferred by the under 35’s, who have different taste buds to those of us who are not.
Far too soon, it was time for us to leave, and my chauffer for the evening to drive me home.
I would like to say a huge thanks to the team at the brewery for such a great tour, to Tom Casey and CIPS for organising it and to Nick and Alun for driving me to and from the brewery. I think that the idea of CIPS engaging with local business is a really great concept and would like to see it extended. I would also definitely recommend the brewery tour (and the beer)!
In the bar, tasting the Pilsner!A fantastic article about Market Dojo on Buyers Meeting Point
Buyers Meeting Point has written a great article about our new Samurai release. We were so pleased, here it is in full:
In October 2010, Buyers Meeting Point received an email from Nick Drewe, the co-founder of a then new-to-market eAuction solution provider based in the U.K. He asked to have Market Dojo listed in our vendor directory, introducing their offering as “very easy to use, has all the professionalism that you would expect, and is offered at a transparent price level.” We have since gotten to know Nick and Market Dojo’s other co-founder Alun Rafique quite well. Their belief in the value proposition of their solution has caused them to invest in development that makes that value apparent to us as well.In the two years since they launched, much has changed – both for Market Dojo and in the spend management solution landscape. Market Dojo has steadily increased their presence through successful application of their technology and industry recognition of their thought leadership. They have been recognized by the U.K. public sector, receiving two Technology Strategy Board (TSB) grants to develop additional functionality. They recently announced the release of Samurai, an upgrade of their solution nine months in coming. This new release brings a revamped user interface and new functionality that increases the breadth and depth of the solution.
While they made their initial entry to the market with a focus on auctions, including less commonly found event types like Japanese auctions, Samurai adds best-of-breed RFx capabilities to the solution. With an eye to the strategic need for collaboration with suppliers, Market Dojo has also added an innovation portal for soliciting and accepting well-defined ideas for improvement from the market and a ‘sandpit’ where buyers can validate the presentation and setup of events by test-driving them before release to suppliers.
Of the changes included in Samurai, the one most likely to make an impact in procurement organizations is the addition of scoring capabilities that can be applied when weighting the information and prices collected in RFx’s and eAuctions. While scoring itself is hardly a new idea in eSourcing, Market Dojo’s approach is closely tied to their philosophy on procurement decision-making and the relationship between procurement and the rest of the organization. Much has been made of procurement’s (sometimes precarious) relationship with Finance. Beyond questioning savings calculations and realization, many Finance groups have trouble accepting the ‘transformational math’ used in scoring scenarios that allow too much subjectivity into what should be an objective evaluation process.
Market Dojo supports two approaches for scoring, both linear in nature:
In the first case, non-leading prices are scored purely against how they rank in the market, as represented by the participants. In a pro rata (or proportionate) scoring scenario, both the market and the buying organization’s expectations are reflected in the pricing score.
While the RFX or eAuction is under way buyers can clearly see the breakdown of the price and non-price scores in real time, adding transparency into the negotiation and decision-making process. This breakdown can be clearly communicated to the participants as well, mitigating the risk of participants challenging the award decision. Furthering the need for transparency, price and non-price scores are independent of one another, which is fair and consistent for the participants. If a participant earns a score of zero in the qualitative (questionnaire) portion of an event, they can stay in the process (if allowed to by the host) by offering a competitive price.
The additional capabilities added to Market Dojo with the release of Samurai allow them to compete for business with a broader base of prospective clients. They have expanded their reach in the sourcing process while their established place in the negotiation phase.And yet, with all the growth and change, Nick’s introductory statement holds true. Market Dojo is still easy to use, professional, and transparent. Two years after launch, Market Dojo saw £120 million auctioned through their solution in a single month. Buyers Meeting Point looks forward to seeing and hearing more from the Market Dojo team as more companies harness their solution to manage spend and innovate with their suppliers.
We were having a meeting the other day with a vastly experienced ex-CPO of many FTSE 250 organisations, whose counsel to us was that we should look at developing a fully integrated eProcurement toolset if we were to have a chance of working with FTSE companies. Given our current direction, it did get us thinking about the whole best of breed versus enterprise solution debate.
The main advantage of best of breed is that is allows customers to select the ‘best’ product for each requirement, rather than going for one tool that can satisfy every requirement in perhaps a sub-standard way. Time and again we have seen certain modules of these enterprise solutions gathering dust within an organisation simply because they are not a best fit yet organisations are paying the software companies for supporting these unused features. In worse cases, best of breed applications are still brought in to do the very same task, only better, leading to the company paying for the same requirement twice over.
It is frequently cited that enterprise solutions have less integration costs. However in many cases it can be far more costly to implement an ERP solution onto the current IT infrastructure and then to bespoke it to fit the specific requirements. Perhaps if there were any true SaaS ERP applications out there at the moment then maybe the implementation costs would be much less. However adopting a best of breed route opens up the choice in the market considerably, which in turn increases your negotiation potential, in the same way that a buyer might devise ‘Lots’ for a tender process. This becomes particularly prevalent when it may come to switching your provider, as the fully integrated solutions will be extremely challenging to dislodge, whereas you can phase out individual best of breed applications gradually.
Furthermore integration costs can be cut drastically, in terms of price, time and complexity, through the use of clever cloud-based integration tools that remotely link SaaS applications. Boomi, Pervasive and Cast Iron are some example solutions for this. Suddenly the potential to integrate best of breed solutions becomes even simpler, and all possible via the web, thereby greatly increasing the flexibility of this approach.
From our side, the first major hurdle we would have to overcome to become an enterprise solution is that we would need to develop the other modules, such as spend analytics, contract management, P2P, SRM, SIM, project management and so on. This would create huge development costs on our side, costs which would of course be transferred over to our clients. It would also mean our maintenance and upgrade schedules would be vastly more complex as our team has to keep an eye on tens of thousands more lines of software code, much of which cannot be refined in isolation but must be looked at as part of the bigger picture. Naturally, as soon as this happens, cracks appear in previously excellent products, functionality starts to suffer and the user experience is greatly diminished due to the increasing number of options that the user is presented with. It is no surprise that best of breed applications are more streamlined than the larger ERP solutions, as they only have to handle 99% of the capability. As soon as attempts are made to plug the final 1%, which can move them further into the ERP domain, the application becomes unwieldy.
Instead we could partner with best of breed vendors in each of the key areas, using cloud integration tools to integrate our respective solutions, and then our team can focus on our key strengths and plans, and our partners can focus on theirs. We could even have multiple partners within the same product type, for example contract management, so that we could present our clients with several possible solutions from the all-singing, all-dancing right down to the very basic.
The partnership between applications can create huge value. Just a casual glance through the Google Apps Marketplace and you can find thousands of best of breed applications, designed specifically for simple integration with Google Apps. Google could have kept all their software behind closed doors and prevented third parties from branching out. However Google recognises the innovation and perfection of solutions that is created by promoting such an open network of best of breed applications. We certainly use a number of these applications, such as Zoho and Oggchat, and thanks to the way that these applications can feed off the functionality of Google, the costs are extremely low and integration was a doddle.
So, the next time you are looking for a suite of solutions to cater for your procurement needs, please do bear in mind the best of breed approach and use it to create your own solution to perfectly fit your needs whilst keeping your options open for the future.