#United States #Mahwah #Unimarket #Source-to-Pay #Ramapo College

Introduction

Ramapo College of New Jersey, a distinguished public liberal arts institution located in Mahwah, has chosen Unimarket, a leader in source-to-pay solutions, to help modernize its procurement processes. With an enrollment of around 5,500 students, Ramapo College aims to enhance its operational efficiency and strengthen procurement governance through advanced digital tools offered by Unimarket.

Unimarket’s Solutions

Unimarket will implement its eProcurement+, Sourcing, and Contracts solutions at Ramapo College. This strategic move is designed to streamline the college's procurement workflows that have traditionally relied on manual processes. By transitioning to a connected source-to-pay ecosystem, the college plans to experience significant improvements in sourcing, vendor interactions, and overall contract management.

Goals of the Modernization Effort

The primary objective of this initiative is to eliminate the cumbersome manual workflows that characterize the college's existing procure-to-pay system. Ramapo College has identified key areas for improvement that include:
1. Streamlining Sourcing Processes: Unimarket's Sourcing solution will simplify bidding processes, encouraging a competitive supplier landscape and improving evaluation clarity for multi-line bids.
2. Enhancing Contract Management: By utilizing Unimarket Contracts, the institution aims to shift from manually managing contracts via shared drives to an integrated and centralized system that provides better visibility and management capabilities.
3. Automated Vendor Onboarding: The college will move to a self-service vendor onboarding system that captures all essential documents like W-9 forms and insurance certifications, thereby eliminating delays and ensuring compliance.

Unimarket's Impact on Procurement

The implementation of Unimarket solutions will result in several operational benefits for Ramapo College, including:

• - Efficiency in Purchase Orders: Expanded supplier catalogs and automated workflows will facilitate easier access to negotiated contracts, significantly reducing manual entry work involved in purchase orders.
• - Improved Accounts Payable Capabilities: Introducing enhanced accounts payable functionalities such as three-way matching will reduce the burden of manual invoice entry, allowing staff to focus on more strategic financial tasks.

Leadership Perspectives

Heather Gallagher, Director of Procurement at Ramapo, expressed enthusiasm about moving to a more integrated platform, stating, "Unimarket provides us with the tools to transition from disconnected processes to a more transparent and efficient method of handling sourcing and procurement."

Phil Kenney, CEO of Unimarket, noted the importance of this partnership, emphasizing that Ramapo College's vision for an efficient and compliant procurement operation aligns perfectly with Unimarket's objectives.

Conclusion

Through this collaboration, Ramapo College is poised to revolutionize its procurement processes, leading to better efficiencies and strategic purchasing decisions. Unimarket's commitment to higher education institutions ensures that Ramapo will not only meet its operational goals but also enhance its educational services by maximizing financial control and transparency.

With this strategic partnership, Ramapo College is taking significant strides toward modernizing its procurement framework, setting a precedent for other educational institutions seeking similar improvements.