Cincinnati, Ohio—Feb. 20, 2014—Vinimaya, Inc. and the state of Tennessee announced an agreement to deploy the Vinimaya vMarketPlace solution to serve the state’s agencies, municipalities and counties. Vinimaya delivers a private marketplace for the state to aggregate supplier data from negotiated contracts, simplify catalog management and provide an intuitive shopping experience.
This innovative agreement provides easy access for local municipalities and counties to state-negotiated agreements. With an annual budget in the billions, the state is often able to negotiate better contract pricing and terms than its smaller constituents. The private marketplace makes it possible for the state to leverage those agreements to benefit its constituents and reduce costs throughout the state in a holistic way.
Vinimaya provides seamless integration with the state’s suppliers via a single punchout from its PeopleSoft eProcurement system. The marketplace uses a simple keyword search executed in a federated fashion across multiple sources—online suppliers, local catalogs and inventory items—and delivers aggregated results instantaneously to the shopper, including those with mobile devices. Through this innovative system, cities, counties and other affiliated entities also have access to the state’s negotiated pricing.
After a thorough review of the market and potential vendors, the state chose Vinimaya vMarketPlace due to its flexibility, and ability to connect seamlessly with the state’s suppliers and Oracle’s PeopleSoft eProcurement system.
John Hutchinson, CEO of Vinimaya, said, “As a result of this project, the state of Tennessee and its constituents will realize significant savings through its ability to share negotiated contracts and pricing, optimize purchase decisions and drive more spend under management. We look forward to making this available to other states, municipalities and government entities.”
The Tennessee Central Procurement Office’s implementation of Tennessee SmartShop (TNSmartShop), an intuitive online repository designed to improve visibility and access to statewide contracts for local governments, took just three months to deploy. The new system is fully integrated with the state’s PeopleSoft eProcurement system and already provided 47 different entities with full access to the state’s contracts.