mybuy

mybuy is an online workspace for procurement in organizations, designed to provide a customized hub for procurement tools, strategies, documents, processes, learning, analytics, and existing procurement systems. According to the vendor, mybuy caters to procurement professionals, supply chain professionals, finance professionals, government organizations, and manufacturing companies of various sizes.

Key Features

Procurement eLearning: According to the vendor, mybuy offers access to procurement eLearning modules for continuous learning and skill development, helping users stay updated with industry best practices and develop a knowledgeable and skilled procurement workforce.

Spend Analytics: The vendor claims that mybuy enables organizations to analyze spend data to identify potential cost-saving opportunities and process improvements. It provides insights into spending patterns, supplier performance, and contract compliance, helping users make data-driven decisions to optimize procurement strategies.

Collaboration tools: According to the vendor, mybuy facilitates real-time communication, document sharing, and task management among procurement teams, stakeholders, and suppliers. This feature is said to enhance teamwork and improve efficiency in procurement processes.

Interactive Procurement Processes: The vendor states that mybuy offers interactive workflows and process automation for procurement activities, streamlining processes and ensuring consistency and compliance. It is designed to provide a user-friendly interface for managing tasks and approvals.

Knowledge Base articles: According to the vendor, mybuy provides a repository of procurement knowledge base articles, including best practices, guidelines, and templates. This feature aims to offer quick access to relevant information and resources supporting procurement tasks.

Team News Feed: The vendor claims that mybuy enables the sharing of news, updates, and announcements within the procurement team, promoting transparency and collaboration. It is designed to keep team members informed about important events, changes, and initiatives.

Link to eProcurement tools: According to the vendor, mybuy integrates with existing eProcurement tools, providing a centralized platform for procurement activities and direct access to eProcurement functionalities. This feature aims to enhance the user experience by offering a consolidated platform.

Savings tracking & dashboards: The vendor states that mybuy provides tracking and reporting capabilities for cost savings achieved through procurement initiatives. It offers visual dashboards and analytics to monitor savings performance, helping users measure the effectiveness of procurement strategies.

Guided Buying widget: According to the vendor, mybuy assists users in making informed purchasing decisions through a guided buying process. It offers recommendations, preferred suppliers, and contract compliance information to maximize cost savings and promote policy compliance.

KPI Tracking: The vendor claims that mybuy enables the tracking and monitoring of key performance indicators (KPIs) for procurement. It provides visibility into KPI performance and progress towards targets, helping users measure the efficiency and effectiveness of procurement operations.