Most procurement systems can deliver some degree of spend analysis, contract management and supplier performance management.
The better ones may even offer benchmarking (supplier’s prices and service levels compared with a benchmark).
Very few offer a full e-bidding process, where vendors can bid on buyers’ projects (for the purchase of goods and services).
Think of aXpire as an e-bay for procurement, but specifically focused on B2B (business to business).
Following its successful ICO early in January, raising just over $20m in under 4 days, aXpire will be adding e-bidding functionality to its blockchain based Resolvr software platform. The intention is for the AXP tokens to play a key part in the bidding process.
We will provide more information on this as our plans firm up.