Supply Chain Management

Procurean

Online procurement platform that connects buyers with sellers

Project Demo Video

Project location:

Slovenia

Team:

8

See Project Documentation

What is the solution you are building and how is it addressing the problem?

1. Procurean helps SMEs organize internally, by providing them tailored made and accessible software that is easy to use and can be set-up in just minutes after registering. Utilizing crowdsource intelligence algorithms on the platform businesses have access to information that helps in future decision making, forecasting and discovery.

2. We are building a public B2B marketplace that can match the supply with demand, by allowing smaller, own ecosystems or verticals of buyers and vendors to transact among each other.

3. Businesses can prove their trustworthiness to others with the "trust rank." Trust rank is a multi-dimensional evaluation businesses exchange at the end of each business transaction enhanced with financial data bought from smart data providers (current partnership is with Bisnode). It is stored on the blockchain to ensure data integrity and prevent influence (hence OriginTrail) and has built-in disputing to safeguard against abuse.

Describe how the OriginTrail protocol fits in with your solution architecture?

We want to use OriginTrail to ensure that the evaluations coming from transactions on the platform are transparent, trustworthy and historically verifiable. We will do this by anchoring the public data of resulting assessments on the blockchain, and OriginTrail is a perfect solution for that.

What are your relevant previous achievements?

Procurean's CEO Sergej Murgelj was a C-level executive in large Slovenian enterprises such as Paloma, Etol, and Adria Airways tehnika. Tomaž Domanjko, our PhD, has built the largest Slovenian dating service OnaOn. Miha Slemenšek was Head of IT and purchasing at OMCO Feniks and co-founded Gepom, e-procurement platform that is the predecessor to Procurean.

Describe your previous experience with the OriginTrail protocol.

No experience.

Describe the problem you are solving.

Smaller and medium-sized enterprises (SMEs) have troubles finding and investigating new potential business partners. Searching is costly and time-consuming, examining is hard because there is no reputational data available, and financial data is hard to get and often expensive. At the execution stage, these businesses lack knowledge and internal organization to be able to face business risk associated with international trade and transacting with unknown business partners.

How do you plan to scale your idea?

We have designed a built-in network effect with ""buyer ecosystems"", which effectively means that buyers that use Procurean can onboard their existing vendors, and their vendors can use Procurean to transact with them for free, and at the same time, we can also help those vendors to reach buyers outside of their current domain. In each country or geographical market, we plan to partner up with system integration providers and smaller ERP providers that will help us bring our solution to as many businesses as possible

Why should OriginTrail and our community choose your idea amongst others?

We are accelerated and supported by ABC Accelerator , and Friuli Innovazione . We are building a solution that addresses a genuine problem that most businesses face regularly. We have a strong team that consists of experienced professionals in marketing, sales, and tech coming from startups, corporate world, and consultancies. We are capable of bringing this product to market. We have already raised 202.500 EUR in seed funding, and we will be looking for another investment round (post-seed) in 2019.