MONTREAL, Oct. 17, 2023 (GLOBE NEWSWIRE) -- mdf commerce inc. (TSX: MDF), a SaaS leader in digital commerce technologies, today announces that Rockland, Chemung, Orange and Ulster Counties (the “Counties”) in New York State have signed a multi-year agreement for the usage of our source-to-contract solution and our Shop module, a marketplace to easily find and shop from available cooperative contracts. These Counties have been utilizing our sourcing module for over 15 years and, through this agreement, will upgrade their procurement efficiency to include our full source-to-contract technology and innovative shared marketplace.
Strategic sourcing is critical for governments. The four Counties, with a total population of over one million, will now be able to leverage their collective buying power. Suppliers will benefit from the ease of using cooperative contracting to more efficiently serve government customers across the region and State. While cooperative purchasing is not new, the ability to shop contracts from a common marketplace is a new and innovative approach to public procurement. The marketplace will be accessible to all New York State agencies, and they will be welcome to join the community to streamline their procurement and benefit from the shared marketplace.
Over the multi-year term of the agreement, these Counties will each have access to our comprehensive source-to-contract and marketplace solutions, stemming from our 20+ years of experience with the public sector, including four of the five modules of our suite: Source, Connect, Contract, and Shop.
Our full-procurement solution, adopted by approximately 6,500 public sector buying organizations, powers the critical work of public procurement throughout North America and includes:
SOURCE | Strategic Sourcing to streamline solicitation creation, publication, evaluation and awarding in one easy-to-use platform
CONNECT | Vendor Management to improve insight and automation to connect with vendors throughout the procurement process with qualification, performance management and contract negotiation
CONTRACT | Contract Lifecycle Management (CLM) to increase efficiency and transparency through collaborative authoring, performance monitoring and overall CLM
PROCURE | Requisition to Pay to improve the entire procurement process through purchase orders, invoicing, payments, spend reporting and an integration with the entity ERP
SHOP | Marketplace to provide the Counties’ buyers and other local municipalities in New York State a shared community and a convenient experience to order off existing contracts with supplier-uploaded catalogs
"We are thrilled by these exciting developments in Rockland, Chemung, Orange, and Ulster Counties, building their community procurement collaboration through our source-to-contract and marketplace solutions. These enhanced tools will play a pivotal role in driving procurement transformation in these Counties. The inclusion of our Shop module, designed specifically for the public sector, further underscores our dedication to fostering innovation and collaboration among local government buyers," remarked Mark Eigenbauer, President of eprocurement at mdf commerce. "We are very enthusiastic about this initiative. By working in tandem with these Counties through strategic sourcing and supplier onboarding services, we expect to enable the success of the community program, while strengthening the collective purchasing influence of local governments across the State of New York."
About mdf commerce Inc.
mdf commerce Inc. (TSX: MDF) enables the flow of commerce by providing a broad set of software-as-a-service (SaaS) solutions designed to optimize and accelerate commercial interactions between buyers and sellers. Our platforms and services empower businesses around the world, enabling them to generate billions of dollars in transactions on an annual basis. Our eprocurement, ecommerce and emarketplaces solutions are supported by a strong and dedicated team of approximately 650 employees based in Canada, the U.S., Ukraine and China. For more information, please visit mdfcommerce.com, follow us on LinkedIn or call 1-877-677-9088.
For further information
Brigitte Guay, Director - Corporate Communications
1 877 677-9088, ext. 5123
brigitte.guay@mdfcommerce.com
