Even though Vinimaya has excelled more at selling products than aggressively marketing them and creating a name for themselves in the Spend Management world, they've still created decent traction with companies who need to get more from their eProcurement and ERP SRM deployments. I recently had the chance to catch up with Gare Hare, Vinimaya's founder and CEO, and Orville Bailey, EVP of Sales and Business Development, to discuss what they've been up to. And the news -- even putting on a bull$hit briefing detection lenses -- appears quite promising indeed.
Up until recently, Vinimaya did a lot of dancing around a marketing message that was harder to explain than what they actually do -- which is quite simple, in my opinion (and desperately needed). If I might try to put it in my own language: Vinimaya provides a highly unique approach to supplier enablement by doing away with the need to manage proprietary supplier catalogs or connect to traditional supplier networks (though they can also work within these environments if they're already in place). By deploying Vinimaya's agent-based technology that searches (identifies) and structures (syndicates) distributed supplier information and web-based content in real-time, companies can drastically improve their spend under management, their percentage of overall suppliers enabled and their overall eProcurement returns.
Now, I'll admit that my statement oversimplifies what it is that Vinimaya does, but it doesn't take a rocket scientist to understand the benefits they can bring to an existing eProcurement deployment. Gary shared with me that a "virtual supplier network" positioning is helping them explain to prospects what it is they do, but to me, this understates the benefits of the system. Still, they must be doing something right, as they expect to have 60 customers by year end based on the current count and the pipeline. Sunoco, 3M and Alcoa are among their current accounts, so it's clear the system can scale to Fortune 500-size eProcurement implementations. At this point, they're serving 14 Oracle/PeopleSoft shops -- more than both their Ariba and SAP customer counts. I suspect, however, that they'll have no problem penetrating the SAP SRM customer base in the future.
After all, the numbers speak for themselves. One $31 Billion manufacturer running Oracle (who had changed from Ariba Buyer) was able to enable 11 punch-out catalogs with their iProcurement implementation. The program stalled thanks to adoption issues, catalog content management woes and supplier push-back, among other reasons. With Vinimaya, the company was able to implement 377 catalogs (75 Internet based, 302 stored) and achieve 100% catalogable transaction coverage. While Gary would not give me the name of this company, I have no doubt it is the same Pittsburgh-based non-ferrous one which recently was designated a world-class performer based on Hackett benchmarks (based on efficiency and effectiveness). That should be no surprise, given numbers like this!
- Jason Busch