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cloudBuy contracted by University of Exeter for new procurement system

Cloudbuy says the deal will contribute revenue in the current financial year.

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It is working with EU Supply on the new deal.

Cloud-based e-commerce specialist cloudBuy Plc (LON:CBUY) has landed a deal to provide staff at University of Exeter with a new platform for procurement.

Through the eight year contact the company is to provide an intuitive way for the university to manage procurement from a wide range of suppliers. It is being delivered via a partnership with EU Supply Plc (LON:EUSP).

John Malloch, University of Exeter head of procurement, said: “The introduction of this system is important to increase the purchasing efficiency across the University.”

“We wanted a solution that could really deliver 'next generation' e-procurement. The cloudBuy and EU-Supply solution best met our requirements and will be implemented over the next few months.

“We expect this to be one of the first examples of a fully integrated Source to Pay solution in our sector."

Cloudbuy says the deal will contribute revenue in the current financial year, and it will come from both implementation, software-as-a-services and hosting.

Chief executive Lyn Duncan added: “cloudBuy has extensive e-procurement functionality and a wealth of experience from projects in the Education sector.

“Exeter has a reputation as an innovator and we look forward to delivering a successful project together with the university and EU-Supply that will become an example of best practise in the higher education sector."

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