“Data is a precious thing and will last longer than the systems themselves.”
There is much ado about data these days. Whether it’s Boston starting a Big Data Cluster or Big Data startups raking in crazy amounts of money, data crunching and analysis is where it’s at. Now what does this have to do with RecoVend and collaborative purchasing, you might ask?
Great question. It’s one of our big differences with other e-procurement software out there, and it’s where we really deliver the most value to schools and vendors. Since RecoVend takes a holistic approach to the purchasing process, we’re able to gather a wealth of data around the activity stream behind every purchase – searching for vendors, researching them, connecting to peers, need identification, etc. We can crunch these numbers, turn around and offer real time insights and analytics around purchases.
Being able to source and purchase with real time information is critical – doing the same with asymmetric, outdated info is akin to running with scissors… while blindfolded.
By comparing a single data set (one university’s purchasing process and habits) and comparing it to what we’re seeing across our global data sets, we’re able to accurately identify when schools are paying too much for products and services compared to their peers. We help rescue your budget – and give you peace of mind knowing that RecoVend has your back every step of the way.
What could be more awesome than that?