Wednesday, 24 May 2017

Suppliers Perspective on Market Dojo

One of the crucial elements of any Reverse eAuction platform is its usability for suppliers. Often overlooked in favour of hosts (typically the paying client for eSourcing solutions), the ease-of-use of a reverse auction platform has a direct correlation to the level of competition.

We got in touch with a freight supplier who had been using Market Dojo as a participant for his perspective on our software. Joel Ziemek from Direct Connect Transport has been using Market Dojo for the last six months and participating in numerous reverse eAuctions held by Aggreko plc.



Here's what Joel had to say:

Tell me about yourself?

I am an account manager for Direct Connect Transport, we specialise in freight haulage across North America. 

How did it start?

We were eager to work with one of Market Dojo’s clients; Aggreko plc. After getting in touch with Aggreko and completing their vetting process they initially invited us to participate in a single reverse auction. The eAuction was for their long-distance road freight needs across Minnesota hosted by Market Dojo software. Since taking part in the initial eAuction, we have been actively participating and tendering bids for over 20 reverse auctions a month. Having the ability to participate in these auctions has made a real impact on our business.

Have you ever participated in a Reverse Auction before?

To be honest with you, I had never heard of a reverse auction before Aggreko invited us to participate. Obviously, without knowing what I was getting myself into, I did some research prior to participating in my first auction. However, the majority of what I have learned has come from using the system and taking part in auctions.

What do you like about Market Dojo?

Well for one it is really easy and simple to use. The layout is very straightforward and as a freight supplier, I can see the full event details on the overview screen. Typically they include the origin, destination, cargo etc. We find this particularly useful because it comprises of all the details that we need to participate in an auction or quote for a specific job. 

One of my favourite aspects as a freight supplier is that I get instant feedback when participating in an eAuction. It saves me a lot of time and hassle in comparison with chasing a quote. But with the ranked auctions events that are set up by Aggreko. We know at the auction close where we placed and whether we were successful in the event.

What have you found really surprising about Market Dojo and eAuctions?

How fun it is! I love my job and I find quoting on jobs really rewarding, but directly competing with other businesses adds another level of enjoyment and excitement. It’s a great feeling in winning an auction and being ranked 1st knowing that you have won the business.

What do you think that Market Dojo can do to improve?

I really like the system, but the layout of the event pages could be improved. Just so that I can better navigate between multiple live events. 

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Monday, 22 May 2017

New Release - May 2017

This month we have done a number of smaller releases. Here are the latest features and enhancements added to the software as requested by customers. 

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Participant activity tracking

Managing your tender through Market Dojo has many advantages over using email. The centralisation of information is one of those benefits. Although it is very easy to see which participants have responded, it can be difficult to know whether someone is still intending to respond, and which have not received the invitation.  

A number of customers have requested more help in this area. Inspired by features available in outbound sales products, we have added a capability to see when emails have been received and opened. We think this is really useful, actionable information which will help save time when chasing up your participants.

Participants tab, with participants in different statuses. Notice that Company A and B have received and opened the invitation email, but Company C has not.
Sharing more information on questionnaire structures

You may want stakeholders to review and approve questionnaires before you send them out. Previously, only users with edit permission could view questionnaires that had no responses. Now, the information is available to everyone. This makes getting sign off from stakeholders much simpler.

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A stakeholder with view permission can review the questionnaire before it is published.
Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Wednesday, 3 May 2017

The Future of Spend Analysis

Eddie McGeachie offered to write a guest blog for Market Dojo. Eddie is the co-founder of Seaforth Analytical Services. They are data analytics specialists providing spend analysis on big data. Eddie’s background comes from years working at Lenovo, xChanging and IBM.
Our advanced text mining capabilities can already help to build a classification of spending, which in turn can be used to build a model that illustrates the process and needs of an organisation. Further developments could help to understand patterns of organisational spending, discover opportunities for savings and prioritise those opportunities based on the achievable savings value that they represent.

We could see the future of spend analysis in tools that have access to all of your spend data and categorise your spending in real-time while offering solutions based on data from transactions with other users. This could be beneficial for both consumers and businesses. 


For example, a future spend analysis tool could identify and classify your spend with ‘Tesco’ as basic groceries. Suggest purchasing from an alternative local supplier like ‘Sainsbury's’ when the tool identifies a savings value that is greater than a value suggested. Or even further become a ‘spend data analysis solutions tool’ that makes purchases online on your behalf, combining data over numerous transactions to purchase products for your existing or current need at the market value.

The same tool could be used to combine businesses direct spend data over numerous years and prioritise needs based on estimated future demand, current stock and recommended suppliers. If automated, the programme could then make purchases based real-time stock levels and sales made.
For more information on how you can benefit from Spend Data Analysis, go to www.myseaforth.com 

Alternatively, you can read more article from Eddie McGeachie on "10 Things You Can Do With Big Data Spend Analysis" and "The Development of Spend Data Analysis"

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Wednesday, 26 April 2017

10 Things You Can Do With Big Data Spend Analysis

Eddie McGeachie offered to write a guest blog for Market Dojo. Eddie is the co-founder of Seaforth Analytical Services. They are data analytics specialists providing spend analysis on big data. Eddie’s experience comes from working with numerous blue chip companies.

10 Uses of Big Data Spend Analysis within procurement

  1. Create a broader level of visibility on company expenditure
  2. Identify and classify forms of maverick spending 
  3. Present relevant information on large volumes of data in minutes
  4. Enable a greater understanding of supplier behaviour
  5. Identify potential supply-chain risks
  6. Provide a greater understanding of the supplier market and positioning of competitors
  7. Yield information for category planning and assistance in prioritising your roadmap
  8. Provide timely information that can be used to improve negotiations with suppliers
  9. Understanding of key areas for high potential savings on purchases
  10. Predictive analysis to discover, evaluate and optimise purchasing behaviour

Seaforth is currently working with a partner to produce real-time data analysis for a large multinational procurement team. The aim is to support their team with analysis on specific spend categories in an instant. This will enable their procurement team to easily identify buying patterns in their data and highlight product duplicates or wasted spend. 


By using data analysis in conjunction with a category planning tool such as Category Dojo. It will allow companies to identify and compare savings opportunities whilst taking into account factors such as time scales, potential savings and complexity.

For more information on how you can benefit from Spend Data Analysis, go to www.myseaforth.com

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Thursday, 20 April 2017

The Development of Spend Data Analysis

Eddie McGeachie offered to write a guest blog for Market Dojo. Eddie is the co-founder of Seaforth Analytical Services. They are data analytics specialists providing spend analysis on big data. Eddie’s background comes from years working at Lenovo, Xchanging, IBM and his experience with numerous blue chip companies.


Big Data Analysis - Past, Present and Future

Big data analysis is soon to be a revolutionary step in transforming the digital world. We will soon be able to interpret, analyse and understand large volumes of data in real-time. With the latest developments in advanced text mining, we can now analyse half a million characters in less than two minutes. This allows us for an almost immediate in-depth spend category analysis, which in the past may have required months of work on behalf of a procurement professional to analyse.

My early involvement with spend analysis started over 10 years ago, when I was working at Lenovo, we discussed the possibilities of using spend analysis and the future role of supply chain analytics in the company. Our initial work became the focal point of using Spend Analytics within the company, leading to immediate changes that led to Lenovo becoming a Gartner Supply Chain Top 25.

Spend Analysis - The Present

Currently, spend analysis is focusing on indirect spend (the purchase of goods or services that are not directly incorporated into the manufacture of a product) as typically this would be the area for the greatest potential for savings. 

This reason for this is that indirect spend is frequently made up of a large number of small transactions across numerous suppliers and because indirect goods and services tend to be more commoditised than their direct spend counterparts. Price tends to be a key differentiator for indirect spend. Whilst quality is typically the key differentiator between suppliers with direct spend. 


Big data analysis has come on in leaps and bounds in recent years, we now have the ability to easily identify and categorise large volumes of indirect spending. This analysis can now be used to search through commodities which are stable and are unstable. By comparing this data on a large scale, you can understand where a company might be buying at prices that are significantly greater than the market value. With further analysis, it can depict trends of indirect spending, typically highlighting costly maverick spending (purchases that are made outside of agreed contracts) and other potential opportunities for savings. 

For more information go to www.myseaforth.com

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Tuesday, 18 April 2017

New Release - April 2017

After our responsive design update a couple of weeks ago, we had a chance to go back and collect up a number of smaller changes that have been waiting in the wings. Here are the latest features and enhancements added to the software as requested by customers. 

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Supplier Onboarding - SIM Dojo

Disable notification when approving supplier

In SIM Dojo, participants are automatically notified when a decision is made that affects their status. However, for some customers this decision may be an internal only workflow change.  To prevent participants receiving confusing messages we have added an option to disable the automatic notification.

Hosts can choose not to notify the participant

Remove from groups when approving participants

When re-approving an existing participant, you may wish to change the groups they are associated with. Previously this had to be done from the admin section. Now you can change the participant groups by unticking the groups when approving participants in the individual participant section.

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Assigning participants to supplier groups
Email updates to scorers

Subject lines reference the participants company name instead of their name, which is easier for scorers to recognise, especially if they are dealing with a large number of participants.

Live chat support in SIM Dojo

One of our most popular support channels, especially for participants, is live chat. This is now immediately accessible by clicking the button that appears on every page of SIM Dojo. 

Questionnaires

Questionnaires are used in both Market Dojo and SIM Dojo.

Auto-accept participants

We have changed the default option for ‘auto-accept participants’ to be Yes.
This is usually the right choice and makes for a much better user experience, especially for new users.

Visual feedback on whether questionnaires are complete

It can be hard for participants to keep track of which questionnaires they have submitted, and which are still outstanding. We have added visual feedback on the tabs to show which are finished.
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Participants can easily see which questionnaires are finished

Empty sections in questionnaires

Empty sections in questionnaires can be used to give additional information which doesn’t directly relate to a specific section.

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A questionnaire including a section with no questions
Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Wednesday, 5 April 2017

Responsive Design for Market Dojo

Market Dojo has now rolled out the responsive design for our flagship product, Market Dojo. This is designed to be optimised visually across all computer, smartphone and small tablet devices to maximise the user experience and interface.

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Screenshot of the new responsive design for a multi-lined RFQ
You can now use the responsive design for Market Dojo through our platform by logging in at https://secure.marketdojo.com.

Alternatively, you can revert to the old design by going to https://previous.marketdojo.com. Any events created or actions made within the tool on either the responsive design or the old design will be consistent within the platforms.

Screenshot of the existing design for a multi-lined auction

In a short time, the site hosting the existing design will be removed and www.marketdojo.com will only run through the fully implemented responsive design. The responsive design has been built and designed in-house to ensure the consistency of the platform but with a refreshed visual design.

Key features of the Responsive Design
    • Data is consistent with that used on the live platform
    • Optimised for all mobile and smartphone devices
    • Improved reading experience
    • Enhanced auction analysis
    • Easy-to-use design

If you wish to continue to use our existing design, just login at https://previous.marketdojo.com and the data will be consistent with that of the tool in the responsive design platform. This functionality will only be available for a limited period of time and if you wish for more information contact us at support@marketdojo.com. 

A key focus of the responsive design is giving users a better experience of the tool, offering users the ability to take onboard more information than ever before.

Nicholas Martin, Chief Technology Officer & Co-founder of Market Dojo said:

"As the use of mobile devices and tablets continue to grow rapidly, so does the range of devices and screen sizes on which people are using our tools. Our new responsive design allows users to reach critical content faster with a refreshed design that adapts to their device. 

"It is only thanks to our fantastically dedicated team and incredible clients that we have been able to do this. We will be eternally grateful for all of those who have given us their continual support and look very much forward to rolling this out to become the live platform."

For more information, contact us at support@marketdojo.com

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!