MindFlow Technologies Inc., which targets the $3 trillion-a-year procurement arena, on Tuesday unveiled a suite of five integrated applications that map everything in the sourcing process, from planning to execution to compliance.
MindFlow Sourcing Suite 4.0, rolled out at the International Supply Management conference in San Francisco, includes the Spend Analyzer, which provides a historical spend analysis and modeling capabilities that enable companies to figure out what and how they will need to spend in the future.
Another key application, according to MindFlow President and CEO John Keenan, is the Sourcing Analyzer, which can recommend sourcing strategies, include bid templates into total-cost-of-ownership sourcing models and incorporate qualitative sourcing criteria, such as quality assurance.
The other three applications include the Bid Analyzer, which according to the Plano, Texas, company can in conjunction with the Sourcing Analyzer reduce sourcing cycle times by up to 70 percent; Auction Analyzer, which provides reverse auction capabilities; and Performance Analyzer, which can closely tie sourcing performance measurements with a businesss enterprise resource planning system.
The suite also comes with Sourcing Desktop, a customizable portal that ties all the applications together.
According to Keenan, MindFlows target businesses are the massive $5 billion-or-more companies with complex sourcing processes.
MindFlow Sourcing Suite 4.0 will be generally available in July, with pricing starting at $500,000.