Beyond Key Rebrands Bid Management Software to ProcureKey

News Summary

Beyond Key has rebranded its Bid Management Software as ProcureKey, an innovative AI-driven procurement solution aimed at enhancing productivity and streamlining the procurement process. It is currently the top-ranked application on Microsoft 365 AppSource, helping over 150 clients save an average of $200,000 per customer. With features like rapid onboarding, automated procurement tasks, and intelligent RFQ comparisons, ProcureKey is designed to redefine procurement strategies across various industries, including manufacturing and construction. Beyond Key’s commitment to Industry 4.0 principles positions ProcureKey as a leader in the procurement technology landscape.

Procurement Software Ready for a Transformation

Beyond Key has officially rebranded its Bid Management Software, now known as ProcureKey, marking a significant shift in the procurement industry as the platform introduces cutting-edge, AI-powered solutions based on the Microsoft 365 ecosystem. The rebranding is effective immediately, and the company aims to provide businesses globally with enhanced productivity, scalability, and creativity through this innovative platform.

A Revolution in Procurement

ProcureKey is touted as a revolutionary procurement solution, which is currently recognized as #1 on Microsoft 365 AppSource. This software simplifies procurement processes across various sectors, including manufacturing, construction, healthcare, eCommerce, insurance, and energy. With a promise of a minimum 25x return on investment and average savings reaching $200,000 per customer, ProcureKey is positioned to significantly impact companies’ financial performance.

Operational Efficiency and Clientele

Currently, ProcureKey serves over 150 clients and processes more than 100,000 RFQs (Request for Quotations) annually. The platform is designed not only to support the financial aspects of procurement but also to enhance operational efficiency. Rapid onboarding can often be completed in just one day, enabling businesses to start realizing measurable value within a week.

Key Features and Functions

ProcureKey automates several key procurement tasks, such as purchase requisitions, development of request for proposals (RFPs) using pre-made templates, customizable approval workflows, and scored assessments for supplier selection. The software incorporates AI-driven features that enhance the accuracy of RFQ comparisons, effectively minimizing human error and streamlining the procurement process.

A centralized supplier platform allows teams to collaborate in real-time, improving transparency and decision-making through real-time dashboards and activity records. These capabilities are particularly beneficial in improving project outcomes, shortening procurement times, and strengthening relationships with vendors.

Addressing Industry Pain Points

In the construction industry, numerous challenges arise from scattered documentation and disjointed vendor communications. ProcureKey addresses these issues by providing a centralized platform that fosters better management and accessibility of procurement documents. The software also optimizes supply chain purchasing in manufacturing through robust RFx management and reverse auctions.

Expertise and Support

Beyond Key’s expertise in data analytics, artificial intelligence, and cloud computing further enhances the functionality of ProcureKey, aligning the platform with the principles of Industry 4.0. The company, founded in 2005, boasts a professional team of over 350 experts, including more than 75 certified SharePoint professionals. Recognized as a Microsoft Solutions Partner and ISO certified, Beyond Key also proudly highlights that ProcureKey has more than 50,000 downloads from AppSource.

Future Prospects

With the launch of ProcureKey, Beyond Key is set to drive significant value for industries such as construction, manufacturing, and energy. As market dynamics continually evolve, the integration of AI and enhanced processes offered by this platform signal a new era in procurement strategies, aimed at optimizing efficiency and delivering unparalleled results for businesses around the globe.

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Additional Resources

• BIS InfoTech
• MediaBrief
• Wikipedia: Procurement
• Google Search: Artificial Intelligence in Procurement
• Encyclopedia Britannica: Business