Bidsync : Governing The Public Sector e-Procurement Market
Bidsync, the players of the market will remember were evaluated New Jersey’s highest for technical competencies and were among the first names in pricing. Since then their volley of products have only increased, and are positioned to be the best sellers of state market because of their relevance.
Bidsync conceptualizes, develop, and sell in the arena of public sector e-Procurement to municipalities, counties, states, educational institutions, etc. They are the leading providers of public sector e-Procurement, and have been noted for the way the company has grown by the leverage shown in both sides of their business. Their bid notification business has grown in revenue and they have succeeded in bringing together private business sellers and government agency buyers in a common platform.
Bidsync has been able to further refine the development and sale of the procurement technologies through the observation of how the players interact.That they have added 13 new agency clients and inked a $500,000 contract with one of the country’s largest municipal court systems in the past year goes to show that such refinement has led to substantial revenue growth for the company.
That bidsync revamped their product strategy recently to modernize and make it more reflective of their ideology about procurement shows that they are not in danger of staying in a rut. This is one company that does not just live on today’s satisfaction of being one of the top players. They are determined to remain so in future, and this is done by constantly evolving product and identifying and filling gaps where there might be.
Growth in customer relations has been further strengthened by cooperative agreements and unique piggyback clauses. The existing contracts are beneficial to the extent that potential public sector clients view them and cut through the usually long sales cycle to close a deal. Such understanding of gaining customer confidence through leveraging of existing contracts is one of the many reasons why bidsync has the high niche that they hold in the marketplace. Another important factor that has let bidsync a way to reach out to the more obscure new areas of the market is the strategic partnership agreement signed with SunGaurd Public Sector, one of the market’s leading ERP system providers. Such a partnership has opened to bidsync possibilities that otherwise are not in the purview of e-Procurement only vendors.
To bidsync, public sector procurement hasn’t shown any seismic changes or radical shifts.
e-Procurement is the leader when it comes to public sector procurement technology. Bidsync perceives how it is evolving and adapting, and prepares for the needs of today and anticipates changes that are sure to come in future. The vendor consolidation in the market is bound to increase over the next years – theSAP/Ariba and IBM/Emptoris acquisitions are good examples. Different strategies have been adopted to attract the state market since it still serves as the leading champion for the advancement of procurement technology initiatives.
Bidsync believes that a strategic approach to the procurement function will unveil and tout the value of procurement. This strategy have been broken down to seven core phases, which pretty much defines everything that a solution must have if it has to be a holistic and end-to-end. And only end-to-end solutions, and the practice in a company to make all their solutions meet all shortcomings is what will make it unique and powerful.