SAN FRANCISCO, May 4, 2015 /PRNewswire/ -- Every year companies waste billions of dollars on inefficient procurement programs. While leadership takes the time to establish an annual budget, they often have no way to enforce the budget until it is too late. Deem, the leading Commerce-as-a-Service (CaaS) company, today announced the new Deem Shopping application that delivers a consumer-like experience coupled with the enterprise-grade controls and compliance. The new application will ensure that employees can easily purchase the products and services they need in the context of corporate policy while providing real-time visibility on project spend against the budget.
With the new shopping application, Deem will become the first company to unify budgetary management, project management and requisition in a single procurement solution. It will feature parallel, multi-level work flows, allow purchasing through purchase order and for purchasing to be managed in a project management style, a feature unique to Deem Shopping. This enables project managers to easily keep track of spend, manage budgets, take appropriate action and avoid overspending. In addition, a chief financial officer will benefit by maintaining visibility and control of the total budget from both corporate and project levels, while a chief procurement officer will be able to provide guidance to project owners on current and planned spending.
"A big part of being the most trusted and valuable commerce partner for businesses is listening to what your customers are asking for when developing your roadmap," said Patrick Grady, founder and CEO, Deem. "By enabling budget, project and requisition management in a single, easy-to-use application, Deem Shopping will help Deem customers to reduce overhead, streamline the approvals process and save money faster. We have finally bridged the gap between the CPO and CFO."
Deem Shopping is a complete, end-to-end business shopping solution that is part of Deem's integrated cloud and mobile suite of indirect spend solutions. It can also be implemented as a front-end purchasing solution on top of a company's existing ERP or a back-end solution for an existing buyer or supplier-facing procurement application. Customers begin saving money from the first post-deployment click, taking advantages of millions of preloaded SKUs at Deem's negotiated rates. Customers are then able to complement Deem's massive content library with their own unique supplier catalogs with private rates.
The new Deem Shopping application has been built from the ground up in-house at Deem and will replace Deem's existing shopping application by the end of 2015. Deem is unveiling the new product and providing demonstrations to customers this week at Institute for Supply Management's annual conference, ISM2015, in Phoenix, Arizona.
Deem is a leading Commerce-as-a-Service (CaaS) company that connects a large and diverse ecosystem of more than 29,000 customers, 100,000 merchants and 40 strategic partners across a one-of-a-kind business commerce network, enabling them to lower costs, increase revenue and deepen customer loyalty. Deem's investors include Fidelity Investments, Hony Capital, PointGuard Ventures, and Oak Investment Partners. For more Information visit www.deem.com.