Negotiatus

50-watch-2020-web
260 West 39th Street, Floor 5 | New York, New York | 10018 United States
zach@negotiatus.com
6466657383
Provides solutions and/or services in the following categories:

Negotiatus gives businesses the power to place orders, control spend, and submit payment across every vendor in one place.

TRULY AUTOMATIC ORDERING
Never juggle vendor logins or email purchase orders again. Negotiatus provides:
- One catalog and cart: Order 95% faster by browsing all products in one catalog and submitting one cart. Negotiatus automatically executes orders across every vendor, without the need for the business to integrate or email a PO.
- Proactive delivery tracking: Get alerted of delivery issues before they notice. All delivery information across vendors is consolidated onto the Negotiatus dashboard.
- Automated strategic sourcing: Save an average 8% with Negotiatus’ automated strategic sourcing engine on both high spend items and the long tail.
- Best-in-class support: Dedicated cross-vendor support to assist with delivery issues, complex purchases, and best practices.

EXCEPTIONAL VISIBILITY AND CONTROL
Enterprise-level controls and analytics wrapped in a framework that anyone can use, understand, and adhere to.
- 100% spend visibility: Access real-time analytics across every user and product. Get actionable purchasing insights to supercharge finance teams.
- Customizable approvals & budgeting: Set budgets and enforce approvals by user, location, and product category.
- Easy & enjoyable to use: Negotiatus is rated 4.9/5 by its customers, has a 99% adoption rate, and is understandable by both the front desk and executive office.

PAYMENT ON YOUR TERMS
Fewer invoices to reconcile, fewer payments to remit.
- Consolidated billing: Combine multiple vendor transactions into one Negotiatus payment. Over 80% of Negotiatus customers pay just one invoice per week or month.
- Paid on your schedule: Pay at time of order, per week, or per month on terms that make sense.
- Perfectly coded spend data: Invoice reporting down to the line and GL-level that imports seamlessly into any accounting system.

TESTIMONIALS
Hear about Negotiatus directly from customers:
- “Negotiatus was the key piece that allowed our organization to move our Source-to-Pay strategy into overdrive.” Patrick, Director of Finance, WeWork
- "Without Negotiatus and consolidated ordering we wouldn't have been able to open the number of studios we have today." Artemis, Regional Manager, [solidcore]
- "It gave us a clear picture of our usage of all the items we order across locations. That's not something we had before." Christina, Director of Operations, SoulCycle
- "Nationally, we’re saving upwards of $5-6k per month just on products. The platform lets you save a lot of money. We're still buying what we were before, just at a discount." Ellsworth, National Operations Manager, Cozen O'Connor
- "It takes significantly less time to order now, I see that for both myself and my managers." Elizabeth, Procurement Manager, Zeus Living

Negotiatus empowers operations and finance teams to spend less time placing orders and more time where it matters.

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Negotiatus, a 2019 Future 5 company, is a procure-to-pay solution that defies the conventional expectations of what P2P should be. Rather than see its technology as a way to automate business processes (e.g., catalog management, ordering, invoicing and payments), Negotiatus contends that automation can sometimes be a symptom of dis-function rather than a panacea to inefficient business processes.

With that in mind, the Negotiatus solution supports end-to-end purchasing by attacking the root problems themselves. Rather than construct catalogs via vendor portals or uploaded CSV, Negotiatus helps clients build one dynamic “super” catalog off of which all users can compliantly order. And rather than pay vendors directly, clients consolidate their purchases into a single weekly or monthly invoice to Negotiatus, which provides a uniformly coded account of all spending.

Negotiatus provides a solution for end-to-end purchasing, but with notably different approaches to enabling the P2P process. Businesses can construct a single catalog using imported order history from vendor shopping carts on websites, along with URL-based requisitions and invoice flips. It also allows businesses to pay consolidated invoices, reducing thousands of invoices to simply weekly or monthly ones payable to Negotiatus. It even has some unique business model elements, such as sponsored product recommendations when a given item can be substituted at a lower cost. Overall, it’s definitely a fresh take on what a P2P solution could be.

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

Rather than make incremental improvements on the e-procurement model, Negotiatus sees the problems facing procurement teams as structural, and thus the whole philosophy of how these tools are built and deployed needs to change.

In a market where plenty of solutions are taking a UX/UI enhancement approach to updating a technology category, Negotatius’ philosophy stands out as one that is trying to address the root problems of P2P, instead of perpetuating them or at minimum dulling the pain of purchasing. That’s a courageous effort — and one that seems to resonate well with customers.

Any threats or challenges ahead?E-procurement, like e-sourcing, is a well-established market, and buyers come with expectations of what the tool can already do and how it should work. Negotiatus has some of the common e-procurement elements but not all of them (e.g., receiving), and the vendor appears to be more at home with newer, younger organizations (e.g, WeWork, SoulCycle) than with traditional large enterprises.

Negotiatus actually says its best target customer is the “forward thinking” procurement or finance organization. But if it wants to capture more of the “in the same place” or “backward” thinking market — which, to put it politely, can constitute a strong majority relative to the first group — it will have to compete against other feature-rich competitors looking to capture the same middle-market enterprises.

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  • Contact Negotiatus