Purchasing is about to get a lot easier. The university in early-2019 will launch MARQetplace, a procure-to-pay web application that interfaces with MyJob. The new system will improve the user buying experience, create efficiencies in order and invoice approvals, and reduce costs across the university — key objectives of the Sustainability of Valuable Resources goal theme in Beyond Boundaries, the Marquette’s strategic plan.
“MARQetplace offers a significantly improved user experience with more timely access to transaction history and a more direct link between Marquette and our suppliers,” says Jenny Alexander, director of purchasing. “When MARQetplace is up to speed across the university, we expect increased user satisfaction, which will result in improved contract compliance and savings for all areas of campus.”
More options + faster approval + faster delivery = more efficient
MARQetplace, a cloud-based spend management platform from Coupa Software, will provide university shoppers with online supplier catalogs to deliver improved product visibility and order and delivery status. The system will allow suppliers to invoice Marquette electronically and view payment information directly, executing transactions faster and more simply than current procedures. The result will be a much-improved buyer experience where purchases are made using an end-to-end procurement system that connects suppliers to Marquette, as well as a more efficient invoice entry and approval process, Alexander says.
Analytics for better leveraging
An added bonus of this new system is that data collection will provide analytics applicable for leveraging future contract negotiation and supplier agreements, as well as identifying departmental key performance indicators. It also enhances spending visibility including a custom dashboard for users.
Importantly, Alexander adds, the new system will not replace MyJob (Oracle E-Business Suite). Rather, it works with MyJob to improve the purchasing and payables processes, improve operational efficiencies through automation and increase cost savings.
Watch Marquette Today for updates related to MARQetplace’s implementation.
