How Omnyfy can help you build a Procurement Marketplace

Procurement Marketplace

Procurement refers to the finding, quoting and purchase of products in a B2B environment. A procurement marketplace enables business customers to browse and find prospective vendors from whom to order products or services on an ongoing basis. 

Procurement marketplaces address several major issues for large organizations including streamlining the process of finding and engaging vendors, simplifying invoicing as the buyer only needs to pay one invoice for purchases from multiple vendors, ability to pay on account and receive terms, maintain a record of all purchases in a single place, negotiate prices which can then be purchased on an ongoing basis and have saved orders that can be re-purchased on regular intervals.  

Procurement marketplaces must support the following functionalities 

  • Support business accounts with the ability to pay on account or checkout using a simple confirmation method such as PIN number reserved for that account 
  • Ability to view products and categories based on the registered business account 
  • Ability to browse and compare products from multiple vendors 
  • Ability to request quotations for products 
  • Ability for vendors to create quotes for customers 
  • Ability for customers to accept quotations and convert them to orders 
  • Ability to receive invoices from the marketplace which are payable to individual vendors (integrated invoicing) – i.e. pay a single invoice which is then paid out to multiple vendors 

PIN based checkout

Secure PIN based checkout to enable customers to place orders on account – ideal for B2B marketplaces

Request for Quote Module

Enable customers to request quotes for products directly from Vendors

Enquiries Management

Enables Marketplace Owners to facilitate lead generation enquiries for Vendors

Product catalogue

Add, remove and edit products and information

Marketing and Communications

Email marketing and social tools to get the word out about your marketplace

Vendor On-boarding and Subscriptions

Create subscriptions for vendors to access the marketplace, manage entitlements and onboard with full KYC and integrated payouts.

Marketing and Communications

Email marketing and social tools to get the word out about your marketplace

Vendor Management

Add, remove and edit Vendors and their information

Marketplace administration

Everything you need to administer and keep your marketplace running smoothly

Design and themes

A variety of themes that can be customised to match your brand identity

Learn more about Omnyfy’s extensive features

Procurement Marketplace Implementations

Explore Procurement Marketplaces built on Omnyfy