Bid Ops

50-watch-2020-web
345 California Street, Suite 600 | San Francisco, CA | 94104 United States
evan@bidops.com
202 549-2333
Provides solutions and/or services in the following categories:

Bid Ops was created by procurement professionals for procurement professionals with the following mission: accelerating and aligning business partnerships between top buyers and leading suppliers. The Bid Ops Platform achieves this with a simple user experience over a powerful artificial intelligence engine that automates request strategy, bid analysis, and enables apples-to-apples comparisons between suppliers based on both performance and price. Our Fortune 500 customers get better offers from more suppliers, and leaders get to focus on what matters most: awarding the best supplier at the best price, and building outstanding relationships.

Onesheeter

Bid Ops, proudly listed on the inaugural Future 5 listing for 2019, is a cloud-based e-sourcing tool positioning itself as the first AI solution for automating procurement negotiations using adaptive target pricing. The concept behind Bid Ops is to apply much of the advances made in sales CRM software to the procurement world. This includes not only general changes such as the shift to the cloud and an increased emphasis on usability over complex feature/function support but a renewed focus on automation, taking people out of the back-and-forth of negotiation when possible.

Rather than focus solely on serving the buyer, Bid Ops’ founders actually built the vendor side of their platform first, shaping the whole user experience around making negotiation faster, simpler and more pleasant for vendors. Check out their vendor analysis Part 1, Part 2 in Spend Matters PRO for more.

So, why did Bid Ops make it onto the 2019 Future 5 list?

While there’s been a lot of talk in the tech world about the promise of AI, many companies have produced more hype than real advances. Bid Ops takes an honest approach to how its AI works, and it’s straightforward about where it applies the technology — that is, in the automation of negotiation through behavior analysis and reinforcement learning — and where it does not.

What’s more, Bid Ops offers a refreshing take in the e-sourcing market by applying a strong focus to the supplier experience in addition to the procurement one, acknowledging that commerce does indeed involve multiple parties seeking mutually beneficial outcomes.

Any threats or challenges ahead?

We think e-sourcing is a market that could use some new ideas, but it’s also a long-established one that comes with some built-in expectations. Bid Ops meets the basic criteria one would expect for RFX and auction capabilities, but at the time of our review it lacked some of the more enterprise-focused bells and whistles (e.g., category management guidance, robust project management capabilities) that we see in larger competitors.

With time and additional clients, we’ll be keen to see where Bid Ops plans to invest for development and how it thinks about its own competitive landscape.

 
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  • Contact Bid Ops

    evan@bidops.com