The case study outlines a procurement management SaaS designed for medium-sized companies, providing a comprehensive Source to Pay solution. Developed over four years with extensive user feedback, this tool facilitates the complete procurement process, from internal purchase requests, electronic RFQs/RFPs, proposals from suppliers, offer evaluation, order placement, to invoice processing. It offers customizable approval workflows, item catalogs, supplier directories, reports, and analytics, and integrates with accounting tools like QuickBooks and Xero, and Amazon Business. The system requires cloud hosting and licenses, with low hosting costs at about $90 per month. Customer accounts are managed through Stripe, and most users remain with the service once subscribed. Pricing is tiered, starting at $20 to $60 per user per month, with typical clients purchasing 5-6 licenses.
The Delaware-based C-Corp launched commercial operations in 2022 after being established in 2020. Entirely bootstrapped, relying on organic inbound customer acquisition, first-year revenue was $2,500, growing to $12,800 in the second year. Greater growth potential exists with increased marketing and outbound sales efforts, however, current revenue is insufficient to support these initiatives without outside investment. Consequently, the owners are considering selling the system, including the website, source code, and related assets, to individuals or entities equipped to further develop and scale the business. The primary market includes small to medium-sized businesses in the US and other English-speaking regions.