CINCINNATI, Aug. 27, 2014 /PRNewswire/ -- Vinimaya, Inc., a provider of cloud-based e-procurement marketplace and catalog management solutions, now proactively alerts users when the price of an item in the catalog is above the negotiated contract price or the item is not included in the contract at all.
The latest upgrade to Vinimaya's vMarketPlace Compliance Auditing module now provides real-time alerts for Vinimaya customers when off-contract items appear in search results or pricing exceeds negotiated agreements. The notifications can be set to display when items are returned from a web search, alerting shoppers that the item or pricing is out of compliance. Compliance Auditing also provides the flexibility to block non-compliant items at checkout, or allow based on defined tolerance levels.
Key functionality of the module includes:
- Real-time alerts - for corporate shoppers when off-contract items appear in search results or pricing exceeds negotiated agreements.
- Blocking of non-compliant items - at checkout or allow checkout to proceed based on defined tolerance levels.
- Tracking of price history - maintain historical price data for every SKU and display price trending in vMarketPlace users' search results.
- Management of contract data – contract data is included in the audit and price check. On- and off- contract identification is readily visible to highlight instances where suppliers are presenting non-contract items.
- Running of comprehensive reports – enhanced reporting capabilities to monitor over contract pricing and off-contract items – not only for items purchased, but also for every item retrieved in live search results.
"As part of Vinimaya's core value of continual innovation, the enhanced Compliance Auditing module significantly expands the ability to monitor over-contract pricing and off-contract items – not only for items purchased, but for every item retrieved in live search results," said Vinimaya CEO John Hutchinson. "The ability to automate price and product audits in real-time is an important supplier management functionality for procurement leaders that gives our clients the power to easily ensure they are purchasing approved items at the approved pricing, saving them both time and money."
Compliance Auditing is part of the Vinimaya's vMarketPlace suite of products. vMarketPlace provides a consumer-like shopping experience with dynamic access to all sourced items under contract from multiple sources – online suppliers, local catalogs and inventory items. Vinimaya vMarketPlace supports virtually any ERP or e-procurement platform and eliminates the delays, technical challenges and cost of managing numerous locally hosted supplier catalogs or supplier punchouts