Learn more about the PurchasePlus value proposition, and Marketboomer - the company behind the software.
Jump to:
- About PurchasePlus
- What modules does PurchasePlus offer for Purchasers?
- Example Use Case for a Purchaser using PurchasePlus
- What can Suppliers do with PurchasePlus?
- About Marketboomer
About PurchasePlus
PurchasePlus is an AI-powered Procure-to-Pay platform and curated B2B marketplace designed for hospitality, leisure and healthcare businesses.
We work with hotels, entertainment venues, aged care facilities, and many more types of customers, helping them streamline their purchasing, supplier management, and many more aspects of procurement. We refer to our 'customers' as Purchasers.
For Purchasers in our network, we deliver automated purchasing solutions, supplier management tools and data-driven insights that drive cost savings of 7-12%, an 80% reduction in manual procurement work, and better procurement decisions - enabling their back office teams to contribute to delighting their guests.
We also offer value to the businesses who provide their goods and services to our Purchasers. We call these businesses Suppliers. For Suppliers in our network, PurchasePlus makes it easy to connect with hospitality businesses, build lasting trading relationships, and get paid on time.
What modules does PurchasePlus offer for Purchasers?
- End-to-End Procure-to-Pay software including Catalog and Supplier Management, Requisition Approvals, Purchase Orders, Receiving, and more,
- AP Automation including Paperless Invoicing and automated 3-way Invoice Matching,
- Inventory Management including Stock Levels, Stocktakes, and Transfers,
- Recipe and Menu management, for maximising profitability and controlling ingredients,
- Integrations with:
- Accounting Platforms like Netsuite, Momentus, Xero, and more, so you can export your reconciled Invoices with purchasing data, and then export them for payment,
- Point of Sale (POS) Systems for automated Stock Level management,
- Advanced Analytics, to continually improve your procurement operations and unlock opportunities for growth,
- Supplier Engagement, because we care deeply about the relationships between Purchasers and Suppliers.
And our best-in-class, award winning Customer Success and Supplier Relations teams, who are dedicated to making sure all users (Purchasers and Suppliers) are successful on our platform.
What is a typical use case for Purchasers using PurchasePlus?
Customer: The Hotel Plus
Facility Size: 250 Rooms
Facility Location: Australia
Key Users: Purchasing Manager, Heads of Department, General Manager
Example Use Case:
The Procure-to-Pay module enables a Food and Beverage employee to create a Requisition from a Buy List (i.e. a 'favourites' list) using their iPad, and submit it for approval.
The Requisition will then go through an Approval Workflow, whereby the Executive Chef will approve or reject the Requisition. If Approved, the Requisition will ‘spawn’ one or more Purchase Orders (POs) that are sent electronically to the Suppliers' preferred inbox.
Once the Suppliers receive their PO and send the Goods, they can be accounted for by the Hotel's receiving staff member creating a ‘Receiving Note’ (or GR Note), which specifies the quantity and dollar value of the goods received, and the Stock Levels of the receiving Stock Location can be updated.
The Supplier can send their Invoice directly to PurchasePlus. Our Paperless Invoicing Artificial Intelligence (AI) automatically scans the received Invoice and extracts the data, matches the data with Purchase Order(s) and Receiving Notes in our system, and then automatically codes and processes the Invoice according to your rules (which we call Thresholds).
If a discrepancy is found during this process, the Invoice is ‘Flagged’ and must be reviewed by a human and be manually reconciled. If the comparison raises no issues, the Invoice is automatically progressed to the Reconciled state, and its data may be exported to an external accounting system via integration (e.g. SUN, PeopleSoft, Microsoft Dynamics, Microsoft Navision, CareSystems, Xero, SAP and Great Plains).
What can Suppliers do with PurchasePlus?
Suppliers can access our platform to manage their Profile, their Products and their Catalogs, so that their Purchasers are always including the Right Products at the Right Prices in their Purchase Orders.
Suppliers can protect their existing Purchaser Relationships by adhering to their procurement standards, and also ensure they are eligible for timely invoice payment.
Additionally, our Supplier Relations team is deeply invested in making sure Suppliers are successful on the platform, and helping them make new Purchaser Connections where possible.
We do this because when our Suppliers are Successful, our Purchasers are successful - and that is the only way we (Marketboomer) can be successful as a company.
View our Supplier Support Library.
About Marketboomer
Established in Australia in 1997, Marketboomer specialises in providing comprehensive e-procurement, inventory, recipe, invoicing and budget solutions. We do this through our (recently-consolidated) product called PurchasePlus.
Catering primarily to the hospitality, leisure and healthcare sectors, we enable our customers to focus on their core operations, while our platform delivers compounding efficiencies and unlocks new opportunities for growth.
With a global footprint across 23 countries, servicing over 800 properties, and a network of 50,000 suppliers, Marketboomer is a global leader in procure-to-pay solutions.