Unimarket

UNIMARKET

Unimarket empowers IT professionals to support school-wide initiatives with cutting-edge technology, driving digital transformation, accelerating sustainability, enhancing governance, and saving institutions both time and money. Our comprehensive Spend Management and eProcurement solution is designed to streamline procurement for IT, Procurement, Accounts Payable, Finance, and end users. By channeling all spend through a single platform, your institution gains complete visibility into campus purchases and vendors. This transparency empowers you to leverage buying power, reduce risk, and control spend effectively.

Our platform seamlessly integrates with leading ERP systems in higher education, including Ellucian Banner and Colleague, Workday, Peoplesoft, Oracle, and more. These integrations significantly reduce the IT workload during the transition to Unimarket, ensuring a smooth and efficient implementation.

Governance with Unimarket

Unimarket enhances higher education governance by promoting transparency, accountability, compliance, efficiency, and cost savings. Our e-procurement capabilities ensure your institution’s procurement processes align with strategic goals, maximizing resource utilization and delivering optimal value.

Digital Transformation with E-Procurement

E-procurement is pivotal for digital transformation in higher education. By automating processes, delivering data-driven insights, and fostering collaboration, e-procurement enables institutions to operate more efficiently, effectively, and responsively to the evolving needs of students, faculty, and staff.

Transitioning to Workday?

Unimarket’s Marketplace ensures that your buying community and administration retain key benefits during and after the transition to Workday. Enjoy seamless order and invoice integration, detailed line-item transaction information, enhanced reporting capabilities, and access to preferred university pricing.

Discover how our Marketplace supported Saint Louis University’s smooth transition to Workday by visiting this link.

WHAT SETS UNIMARKET APART FROM ERP SYSTEMS?

This document explains why a best-in-class eProcurement solution is often the more capable and cost-effective choice for your organization’s procurement needs. Learn more about the benefits of a purpose-built solution here.

UNIMARKET SOLUTIONS

Marketplace

Our integrated, catalog-driven Marketplace provides users with a shopping experience they love, and the data needed to maximize supplier relationships.

Ease: Marketplace’s user-friendly, online shopping experience allows users to find and buy everything they need in one place, focusing on value-added work. Ensure spend is directed to the right suppliers with negotiated pricing.
Visibility & Control: Access a network of catalog suppliers immediately, with the choice of which suppliers to connect with. Maintain visibility into user purchases and supplier relationships.
Savings: Channeling spend through a single platform provides the data and leverage needed to negotiate the best contracts. Easy supplier integration, automated catalog reviews, and optional card payment functionality save time and reduce paperwork.

Virtual Mailroom

Optimize labor, reduce risk, and save time and money with a full-service Virtual Mailroom.

Financial Benefits: Manage finances with a fixed cost per invoice, eliminate paper invoices, save on paper costs, and increase sustainability. Take advantage of supplier early pay discounts with 48-hour invoice processing.
Risk Reduction: Double-blind entry ensures accurate dollar amounts, digital tracking prevents duplicate and fraudulent invoices, and invoices are processed consistently regardless of staff availability.
Workflow and Approval: All invoices enter your predefined workflow and approval process, supporting PO, non-PO, and direct pay invoices. Our dedicated US-based team provides additional AP support as needed.

Payments

Automate and simplify the payment process, reduce manual effort, and minimize risk.

Spend Analysis: Analyze spend to identify suppliers, spending amounts, and payment methods. Transition suppliers to electronic payments, eliminate checks, and earn revenue through virtual card rebates and early pay discounts.
Supplier Onboarding: Work directly with suppliers to onboard them for electronic payment. Tailor communications to supplier needs and transition from checks to secure, cost-effective electronic alternatives.
Payment Processing: Send us your payment file, and we handle the rest. We print and mail checks, initiate electronic payments, reconcile payments, and resolve exceptions, managing all electronic payment details securely.

Expenses

Simplify the submission, approval, and payment of expenses across your organization.

Expense Claim Submission: Intuitive submission process guides users through expense claims from any device, with receipt attachment capabilities.
Streamlined Approvals: Digitized system routes expense claims to the approving manager, with customizable approval workflows.
Reimbursement: Approved claims are directed to your finance system for payment, ensuring timely reimbursements and a digital record of all claims.

Contracts

Transform contract management with a single, searchable contract repository.

Upload Contracts in Bulk: Quickly upload existing contracts. Extract and re-upload contract data for easy bulk editing.
Contract Collaboration: Collaborate throughout the contract life cycle, leaving comments and maintaining an auditable record. Control access and editing permissions.
Monitor Spend Against Contracts: Track spend against supplier contracts to negotiate stronger agreements and maximize value.

Sourcing

Streamline sourcing events, from RFX creation to bid assessment and contract awarding.

Create Your RFP, RFI, or RFQ: Simplify and standardize the sourcing process with our bid request builder. Attach documentation, set scoring criteria, and save templates for future use.
Invite Suppliers: Choose suppliers from our marketplace or invite new ones. Publish public links to reach a wider audience.
Review and Award: Collaborate to review submissions online, using our weighted score calculator. Add awarded bids to the shopping cart to generate requisitions.

UNIMARKET CONSULTING & IMPLEMENTATION SERVICES

Pre-Implementation Consulting

Leverage a proven process to ensure your organization is prepared to maximize its investment in eProcurement.

Project Governance

We collaborate closely with you to define your project governance structure, establishing a clear process for business decision-making and issue resolution well before implementation begins.

Project & Resource Plan

Our team works with yours to validate and refine the project resource requirements plan. We help define the necessary roles and skills for your implementation project team and the ongoing support, administration, and management of the Unimarket solution.

Change Management

We provide guidance on managing the elements of change throughout implementation and deployment. This includes assisting in the development of a comprehensive change management plan and making decisions about future-state business processes. We help identify and address concerns early to ensure smooth implementation.

Cost Savings with Unimarket

Customers see annual cost savings ranging from nearly $600K for schools with approximately 2K FTE to more than $4M for schools with around 20K FTE and even more significant savings for larger schools. The cost savings are generated through Unimarket’s curated marketplace, negotiated best pricing, and reduced rogue spend.

Legal Note:

NERCOMP negotiates the best prices and terms possible for its members and works with outside legal counsel to facilitate the arrangements between NERCOMP and the vendors. Any license or agreement accessed or entered into as a benefit of a Consortium Member’s NERCOMP membership is contingent on that institution remaining an active NERCOMP member for the full term of the license or agreement. For example, if a license agreement lasts for a 3 year term, then the Consortium Member must renew its annual NERCOMP membership at least twice to remain an active Consortium Member for the full 3 year term. Failure of a Consortium Member to timely renew its NERCOMP membership status during the term of the license or agreement may result in either a) termination of the license or agreement or b) loss of the discount pricing available exclusively to NERCOMP Consortium members.

Outside counsel conducts an initial legal review of licenses and agreements on behalf of NERCOMP but does not provide an individualized review on behalf of any particular member institution. Each member institution signs its contracts with vendors individually and the institution itself is liable for the rights and obligations therein. Members are strongly encouraged to have their contracts reviewed internally by their own counsel.

NERCOMP also negotiates separate agreements with individual vendors governing NERCOMP’s own relationship with the vendor. Although NERCOMP members are not parties to these agreements, NERCOMP will make copies of available to any member for review, upon request.

Archival materials on this site are not necessarily accessible. NERCOMP will timely respond to any specific requests to make any specific document accessible.

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