E-procurement marketplace

Better, faster, safer and now decentralized: how can procurement continue being the over-achiever?

Procurement departments are under pressure to enable high paced and decentralized purchasing flows whilst having to keep their historical responsibilities of price, conditions, quality, velocity and CSR.

The objective is to reduce time-to-buy while placing stakeholders squarely at the center of the procurement process, sometimes to the point of rendering them semi-autonomous or fully-autonomous in these processes.

To achieve these goals efficiently, companies are turning to e-procurement marketplaces as they natively offer delegated purchasing powers and third party vendor management. However we still need to ensure that this process is successfully adopted by buyers and vendors.

Second addresses the requirements of e-procurement marketplaces well beyond the perspective of “adding something to the cart”. Although some categories of goods and services are “simple” purchases, most business transactions require quotes, negotiations and communications before a conclusion can be reached. This means offering CPQ (configure, price, quote) functionalities, RFPs (request for proposal), negotiating tools, and platform messaging & file exchanging.

Discover the e-Procurement Marketplace features

supply on a service marketplace

Onboard, validate and manage your vendors

  • View and review vendors through the Second VMS (Vendor Management System)

  • Reduce workloads through vendor self-onboarding

  • Automate vendor identity verification

  • Be the gatekeeper with ultimate procurement validation and vetting workflows

Vendor onboarding

Build on vendor data

  • Build a clear picture of your vendor base

  • Align expectations of quality output compared to price

  • Identify vendors capable of last minute jobs

  • Understand the geographic scope of your vendor’s services

  • Share vendor KPIs with concerned stakeholders

user account validation

Enable autonomous purchasing teams

  • Activate self-service e-procurement without relinquishing oversight

  • Setup purchasing teams and appropriate permissions

  • Let business units handle purchases within your guidelines

  • Centralize purchasing KPIs in a single e-procurement marketplace dashboard

marketplace commissions

e-Procurement marketplaces enable collaborative purchasing

  • Assign roles to individual users during the purchase flow

  • Allow responsibility handover at different steps of each process

  • Let vendors create their own teams and permissions

  • Implement decentralized processes with centralized communications

GDPR marketplace

Encourage positive competition

  • Ensure that vendor density drives prices down without sacrificing quality

  • Reward positive vendor behavior well beyond price competitivity

  • Clearly display positive (and negative) reviews

  • Rank vendors by performance including 14 criteria of which response times

  • Instantly distinguish vendors engaged on your e-procurement marketplace from the opportunists

commission based business models

Activate purchase-to-pay for your services

  • Automate vendor payouts on completion or at milestones

  • Elegantly manage term changes on the fly

  • Align terms & conditions on all transactions

  • Delegate validation processes to different stakeholders through an e-procurement marketplace

  • Centralize vendor self-onboarding and vetting

alerts marketplace

Improve vendor with buyer communications

  • Offer in-platform communications, of which file management

  • Maintain auditable logs of all conversations

  • Centralize team-to-team discussions

  • Enable enquiries directly from the vendor directory

trust and satisfaction on a marketplace

Plug & play

  • Keep the same authentication mechanism for all of your employees

  • Access everything through our REST API

  • Operate your e-procurement marketplace as a standalone platform or fully integrated within your IT

  • A fully customizable front end to match your corporate identity

B2C marketplace solution