Public Funding for Market Dojo Ltd

"We have made assumptions based on limited evidence. We require real-time field data to make informed decisions. The expert would perform the following: 1. Design a customised research study that would help us collect and analyse data on the expectations of the target market. 2. Examine the key functionality / attributes of the proposed SIM tool that would bring the greatest benefits to our clients. This would help maximise our lead generation and conversion within the procurement community."

We have identified a major opportunity to deliver an innovative procurement web application that will provide spend category insight, strategy and opportunity assessment for public and private sector procurement teams. Currently this is done manually which leads to inconsistency and inaccuracy. We would have the first tool on the market to provide a solution. Our web-based tool will give organisations rigorous, consistent and quantifiable assessments of their spend and will: > prioritise tender opportunities against time & return, negotiation potential and expected savings; > assess the relationship balance between the organisation and its key suppliers to identify potential risk of dependencies on certain suppliers; > build category management project plans, assigned to team members, and scheduled to deliver the optimal cost reductions within specific time-frames; > recommend private sector procurement strategies as well as public sector negotiation procedures, e.g. open, restricted, negotiated or competitive dialogue; > compare results against benchmark data, using gamification to incentivise better performance within procurement teams. The tool will be entirely web-based and offered on a subscription basis. It will also be developed into a smartphone and tablet application for greater accessibility and adoption, enhancing the innovative nature of this tool, especially in the procurement field. The benefits of the unique tool will allow procurement teams to consistently address more cost reduction opportunities, reduce the time taken to compile and manage category management plans, and mitigate against the wrong procurement strategy being adopted. We shall brand the tool ‘Category Dojo’ to harmonise with our existing and rapidly growing web application Market Dojo, itself a previous recipient of a TSB grant successfully completed in June this year, which allowed us to evolve our sourcing application specifically for the public sector.

Market Dojo has an existing e-auction product already successfully launched into the wider eprocurement marketplace. The Company has recognised an opportunity to evolve the functionality in order to broaden its appeal beyond the Private Sector and provide a low-cost, EU-compliant and fully auditable tool that can assist Public Sector organisations across all member states of the European Union.This will help to further develop their Procurement activities in pursuit of Best Value for their respective taxpayers, local authorities and Governments. In order to develop the tool to accommodate the specific requirements of Public Procurement, the following further enhancements need to be undertaken: -Enable the auction Owner to create a self-scoring Qualification Questionnaire for completion by Participants within the e-Auction environment. -Enable the Owner to manually score documentary parts of the response that will form the non-price element of the e-Auction. -Enable the Owner to carry out a weighted e-Auction to determine the best outcome. -A sanitised output of results need to be available to all participants. -Also apply this capability for weighted Request for Quotations activities. -Create a confidential Value Engineering Mailbox for Participants to submit ideas. -Create a training area / sand-box for Owners and Participants to develop user skills. Whilst the tool is in a fit-for-market condition, as demonstrated by its current use by the Private Sector, Market Dojo believes that the enhancements outlined above will allow the Company to provide a simple, economic and practical solution to endemic issues in Public Procurement and provide an assured and auditable means to further capture savings and leverage Best Price in this environment, savings that could otherwise be missed by less agile and more complex alternatives. These developments will form a prototype which will be refined by testing with market professionals to attain commercial viability.