Another day, another contract win for cloudBuy. After yesterday's deal in the Middle East, today's deal is an equally impressive collaboration with a major US Cloud-based provider of procurement services.
Big picture - Why invest in Cloudbuy
Innovative Easy-to-use Procurement cloudBuy is the world’s largest business to business eCommerce Marketplace solution, with over 5,000 organizations using the cloudBuy marketplace solution today.
cloudBuy provides a suite of Spend Analytics, Contract Management and eCommerce Marketplace services.
cloudBuy provides organizations with their own virtual shopping mall where end users only see the goods and services that they are allowed to purchase from approved suppliers.
In line with Business-to-Consumer best practice the basket contains everything that is required to ensure that the order
is correct and can be paid without manual intervention of any kind.
cloudBuy focuses on delivering tangible business outcomes for your business through:
• control and visibility
• process efficiencies
• cost savings
Procurement solutions that fit your DNA
One complete solution that covers all your procurement needs.
We have worked hard to help your business evolve.
Continual improvement process
cloudBuy delivers an integrated solution to automate your procure-to-pay process. The solution set includes granular spend data analysis, compliance-focused strategic sourcing capabilities, supplier-managed web content and touch-less eCommerce payment functionality.
This highly functional solution intelligently reconciles purchase orders, contracts and invoices – ensuring you have the knowledge at your fingertips to continually optimize all procurement activities across the organization.
Spend Analysis provides the actionable intelligence required to drive effective, strategic procurement
Now, more than at any time in the past, organizations require knowledge to tackle overspend, drive efficiency initiatives and optimize the procurement process. Until recently this knowledge has been elusive due to poor data quality, or a lack of industry data with which to compare and contrast.
cloudBuy Analytics does all of the heavy lifting for you by processing and enriching your data to deliver the analysis and actionable intelligence needed to drive your procurement agenda both now and in the future.
cloudBuy’s integrated contract management solution allows for easy creation of contracts and delivers compliance to terms and conditions during any associated buying activities. With easy-to-use functionality and real time dashboards it allows procurement professionals to:
Manage procurement contracts easily and quickly through the cloud in a single integrated application
Standardize and control contract development with all suppliers quickly and simply
Be alerted to any changes in terms or pricing and have final approval of any changes that occur
Use contract expiry alerts to ensure contracts are always up to date
Ensure complete control and compliance as contracts are integrated into the purchasing process
Monitor, audit and report on any off-contract purchasing via reports and dashboards
cloudBuy eCommerce Marketplace
At the heart of the cloudBuy system is its unique combined B2B, B2C and B2P (Business to Public Sector) eMarketplace, with over 1 million users.
Suppliers are able to tailor the ranges and prices of products and services visible to each sector and, within the B2B and B2P sectors, to each registered buying organization. This makes cloudBuy very attractive to suppliers, and hence greatly aids the supplier adoption process for each new cloudBuy procuring organization.
Over 2.3 million products are already available from suppliers who have joined the cloudBuy process and supply their customers partly or wholly via websites held on cloudBuy.
In addition, over 1 million more products are available via “punch-out” – where users pass invisibly out to the websites of contracted suppliers, but retain all the security and controls of the cloudBuy system.
This means buyers can create a comprehensive basket of requirements far faster on cloudBuy than any other solution which may operate on internally-held catalogs. It also means that the considerable work required for purchasing staff to input and update internally-held catalogs is eliminated.
Procurement control - User freedom
The cloudBuy eCommerce marketplace has all of the controls required by finance and procurement departments, but with an intuitive consumer interface that makes buying easy for end users and helps drive compliance to contracted goods and prices across the organization.
The cloudBuy eCommerce marketplace can be used in conjunction with an ERP solution such as Oracle or SAP or can be used on a stand-alone basis.
There is a full work-flow module within cloudBuy which allows control and visibility of spend to be mapped down to individual user/individual purchase.
Supplier-managed/buyer-controlled content, with a rich consumer user interface backed up by a sophisticated purchasing module to allow mapping of content to users. Typically it takes 2-3 hours per week to administer a large organization's ecommerce marketplace.
Users enter the eCommerce marketplace through their secure logon or single sign-on and then fill their basket from all the suppliers available to them. On checkout this is split if required and sent for approval.
Once approved, an electronic purchase order is sent to the supplier for them to action. This can be translated and routed in the supplier's format of choice.
All suppliers on cloudBuy have the capability to send eInvoices from their B2B web site. Once they have delivered the goods or services they send an eInvoice which is routed to the buyer for approval in their format of choice.
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Ronald Duncan - Director Chairman and Chief Information Officer
Ronald Duncan co-founded @UK in 1999 (renamed cloudBuy 2013). Prior to @UK he spent ten years running his own computer software consultancy, servicing projects using a range of languages and platforms. Ronald studied Physics at Cambridge and is a Chartered Physicist and Member of the Institution of Analysts and Programmers. He is a former UK downhill ski champion who competed internationally for ten years, including at two Olympics.
Lyn Duncan - Director Chief Executive Officer
Lyn Duncan co-founded @UK in 1999 (renamed cloudBuy 2013), having gained a particular interest in the procurement field and has been actively working in this area since the late 1980's when she worked with Henley Management Consultants on a product which integrated purchasing and marketing processes. Her wider interest in technology developed when working for BT as a manager of emerging technologies such as shared computing and email into BT's corporate client base through a series of flagship business centres. Prior to founding @UK, she worked as a management consultant (both at Oasis and as an independent consultant leading on national initiatives within the NHS) gaining over ten years' experience of leading technology-driven change initiatives in the public and private sector.
Jonathan Holden Chief Operating Officer
Jonathan Holden joined the Company in January 2014 as CEO for EMEA to help drive the expansion of cloudBuy and has responsibility for global partnerships, including Visa. Previously, Jonny was Vice President of Commercial Solutions at Visa Europe, where his role provided him with extensive experience of payments, government and large corporates. Within the role he was Head of Market Development for Commercial Solutions across 34 countries, and previously, Head of Public Sector across 36 countries and led Visa's participation in the UK Government Procurement Card program. Latterly, he had headed up pre-paid for Visa AP (Australia) Pty Ltd in the Australian market and worked with cloudBuy to take the Company into the pre-paid disbursements for Government, Insurance & Corporate Incentives. Prior to joining Visa, he had a long career with Barclaycard heading up various areas including product development, large corporate and public sectors.
David Gibbon Chief Financial Officer
David has 18 years' experience as CFO for technology companies. Prior to joining cloudBuy, he was briefly Chief Financial Officer of Allocate Software plc, a provider of workforce and compliance optimisation solutions, until its take private by Hg Capital. David had previously been CFO of Omnico Groupwhich was formed through the merger of Clarity Commerce Solutions plc, an AIM-quoted POS software company, and Digipos, a POS hardware company. Prior to joining Omnico Group, David was CFO of Kewill plc.
David Holloway Senior Non Executive and Chairman of Appointments Committee
David Holloway has over 20 years experience in IT, including working in successful start-ups. Most recently David was Chief Executive and co-founder of Codian Limited, which was set up in 2003 and sold to Tandberg in 2007 for $270M. David is now Senior Vice President of Network Products at TANDBERG ASA listed as TAA on the Oslo stock market.
David Chellingsworth Non Executive and Chairman of Audit Committee
David is a qualified Chartered Accountant and was formerly the Finance Director of @UK between 1999 and 2001, before its flotation on AIM. He spent the majority of his career at British Gas. Subsequently, he served as Finance Director of Advanced Medical Solutions from 1994 to 1999 where he oversaw its successful flotation on the Official List in 1996. Since leaving @UK, David has acted as either Finance Director or consultant of private companies, including Medtrade Limited and UK Biobank Limited. It is intended that David will chair the Company's audit committee.
Patrick Broughton Non Executive and President Asia Pacific
Patrick, who is based in Australia, joins the Company as President of cloudBuy Asia Pacific. He is a very experienced banker who from 1987 to 1995 worked at JP Morgan, rising to European Head of FX Sales, prior to joining SG Warburg in Sydney in 1997. From 1998 until 2009 he rose to Head of Equity Capital Markets at ABN AMRO Rothschild in Sydney before being appointed as Global Head of Equity Origination for RBS and Chief Executive of Hoare Govett in London, a position which he held until 2012. He is currently Chairman of the Dixon Advisory Investment Committee.
Alice Morwood-Leyland Company Secretary
Alice Morwood-Leyland is a member of the Institute of Chartered Secretaries and Administrators and a Fellow of the Institute of Legal Executives. In this capacity under the Courts and Legal Services Act 1990 she is a Commissioner for Oaths. She joined @UK PLC (renamed cloudBuy 2013) in 2002 from a local firm of solicitors and had previously worked for NatWest International Trust Corporation in the Cayman Islands.
As at 27th October 2014 the Company had been notified under the Disclosure and Transparency Rules of the following interests of 3% or more in its issued share capital:
* The interests shown for RJ and HL Duncan include a joint holding in 14,527,309 shares
Information taken from company website 27.01.2015
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