New Scottish technology company aims to ‘revolutionise’ the tendering process
triSaas, a new Scottish based technology company, aims to ‘revolutionise’ the complex process of tendering with the launch of triTender, a cloud-based platform that ‘automates processes, increases transparency and delivers measurable time and cost efficiencies’.
Hotelier-turned-technology-entrepreneur William Gorol has invested £650,000 in the Edinburgh-based company and spent two years designing and specifying the new cloud-based platform that enables companies to manage, control and importantly streamline the tendering process, while also widening the opportunities for suppliers and encouraging competitive real-time bidding.
A 30-year veteran of the hospitality industry, Gorol’s first technology venture, Procure Wizard, transformed online procurement. Within eight years he had established it as the dominant player in the UK hospitality sector, with over 4,500 suppliers, 40,000 active users and 2,000 hotel and restaurant clients engaging on the system each day. He sold the e-procurement platform to The Access Group for an undisclosed sum in January 2018.
Having revolutionised the post-tender procurement cycle with Procure Wizard, Gorol identified the need for an accessible, cutting-edge solution that simplified the initial tendering process and radically improved the wider issue of buyer and supplier negotiations.
Gorol said: “The complexity of tendering for goods or services has traditionally been carried out by email and spreadsheet, however this process does not deliver the best value for the buyer, usually consumes a huge amount of time, and is riddled with inefficiencies and a high risk of human error.
“triTender has been designed to create an open and transparent tendering platform ensuring buyers can leverage maximum value from the supply chain and significantly reduce post-tender analysis, whilst giving the suppliers a platform to showcase not only their best price but their service offering.”
He added: “Our technology offers buyers the ability to instantly issue and analyse the most complicated tenders across multiple suppliers including pro-rata pricing, weighted baskets, analysis encompassing rebates, prebates and listing fees. triTender’s ground-breaking functionality delivers real value by saving time, delivering cost efficiencies and improving processes through the whole tender cycle. Customers have reported measurable cost reductions of 13% on average resulting in gross margin improvements and a 100% reduction on the time required to analyse complete multi-stage tenders.
“Buyers also have the ability to tender beyond their existing supplier base by searching triMarket, an online supplier directory. Buyers can search and invite new suppliers to a tender or, alternatively, they can make a tender public which triggers an alert to suitable suppliers inviting them to bid.”
With Gorol’s background and contacts in hospitality, triTender is initially focusing on this industry however he aims to widen the business development strategy to other industry sectors going forward. triTender has already secured a number of clients and anticipates significant growth in the next 12 months; and forecasts processing tenders valuing in excess of £100m in Year 1 and doubling this by the end of Year 2.