Annapolis, MD, February 08, 2011 --(PR.com
)-- Unimarket - the innovators in SaaS collaborative eProcurement, today announced that the company achieved several key milestones in 2010 including a 94% growth in revenue over 2009.
With 21 new customers in 2010, Unimarket also achieved a 57% increase in the number of HigherEd institutional customers over 2009. Customers range from large multi-institution systems to smaller colleges and universities including The University System of New Hampshire, The University of Canterbury, High Point University, Harford Community College, The University of Waikato, Carroll Community College, Goucher College, Massey University, Belmont Abbey College and Gettysburg College.
The company also expanded with new customers in Health and Local Government showing that SaaS collaborative eProcurement is a priority across sectors.
"With Unimarket's unique capabilities we expect to quickly capture real savings centrally to pay for the eProcurement system – something that no other eProcurement system was capable of doing for us," said Ken Cody, Vice Chancellor for Financial Affairs & Treasurer/CFO University System of New Hampshire and President of EACUBO.
Recent studies have demonstrated that eProcurement can effectively reduce maverick (off-contract) spend from 50-70%, reduce requisition-to-order cycle times by over 60% and increase total spend under management by over 20%. Every dollar of spend under management generates hard dollar savings. This can be achieved with a seamless online eProcurement solution that integrates with supplier maintained product information, automates manual processes and reduces downstream errors from getting information right on the front end.
"This was another challenging year for K12, Colleges and Universities,” said Scott Blackwood, CEO & Founder of Unimarket. "We are very pleased to be deploying valuable, relevant solutions to help customers manage challenges of today, and partner with them for future success"
Some of the many milestones achieved in 2010 by Unimarket’s customers include:
- The University System of New Hampshire became the first SunGard Higher Education customer to integrate Unimarket RFX collaborative sourcing with Banner to consolidate sourcing across multiple institutions.
- Hamilton City now electronically match and process electronic invoices for 25% of their invoice volume with Unimarket eInvoicing functionality.
- High Point University became the first Datatel customer to implement Unimarket’s full suite of eProcurement, eInvoicing and eExpenses including full integration to Datatel in a record 6 weeks. They will also be Unimarket’s first customer to utilize the new eInventory module.
- Manhattan College adopted Unimarket’s collaborative RFQ functionality to pool demand across New York area schools to achieve economies of scale on point purchases.
- The University of Canterbury became the first customer to utilize full Unimarket integration with Oracle Applications 11i including master data and all transactions.
- After three years using Unimarket eRequisitions, the University of Waikato turned off Oracle Approval Workflow and now utilize full Unimarket eProcurement functionality.
- Goucher College became the first HigherEd customer to integrate Unimarket with Microsoft Dynamics GP.
About Unimarket: Located in Annapolis MD and Auckland NZ, Unimarket provides online software for collaborative eProcurement to reduce costs and improve efficiencies for customers. Unimarket delivers world-class functionality to manage spend and process transactions from purchase requisitions to electronic payments. Customers locate and buy the most cost-effective goods and services – all in sync with controls within respective finance/ERP systems. Thousands of customers’ suppliers from small to large and local to international can also maintain online catalogs and integrate their eCommerce/supply chains with Unimarket for complete automation. A distinctive feature of the Unimarket solution is the ability for customers to collaborate on their common purchases, thereby increasing economies of scale and driving down unit costs. Visit http://www.unimarket.com/ for more information.