Latest News
Student from University of Ulster scoops top prize at Enterprise Ireland Student Entrepreneur Awards 2014
New €2million National Competition to find Ireland’s Best Young Entrepreneur
New $172million venture capital fund to set up in Ireland with support from Enterprise Ireland and NPRF
Local Enterprise Offices are open for business
Keelvar breaks $500 million barrier
Research & Innovation
Knowledge Transfer Ireland, a new innovation service for companies launched
New EU financial instruments will help Irish companies access finance
Inventor of art digitisation tool wins ‘Roots in Research’ prize
Radisens wins second €1M contract with European Space Agency
New guide for companies on how to tap into R&D expertise in local Institutes of Technology published
Start-ups, Jobs, Deals
40 new jobs as Ireland's Diona opens Global HQ in Dublin
Taoiseach and Minister Bruton Announce 350 New Jobs at Voxpro
Green Isle Foods announces 115 new jobs with €30m investment in its operations in Ireland
VistaMed announces €7m investment and 125 new jobs in Carrick-on-Shannon and Roosky
International Activities
Taoiseach and Minister Quinn honour the contribution of the Student Ambassadors to Education in Ireland
Enterprise Ireland drive to win new UK investment in Irish food industry
Successful Enterprise Ireland Trade Missions to Texas, Qatar, Oman and Switzerland
Twitter Feed
Contact Us  Follow Us
Latest News

Keelvar breaks $500 million barrier

Keelvar, an Enterprise Ireland client based in the Rubicon, at the Cork Institute of Technology have just announced that they have optimized spend in excess of $500m through their innovative procurement solution, with a further $2bn in the pipeline. Clients to date include the UN, the UK Government (Crown Commercial Service) , and a number of FTSE 100 companies, ranging from industries as diverse as supermarket retailers, insurance and banking.

The worlds of sourcing and procurement are opaque to many, however, once the figures relating to the amounts of goods and services sourced annually are mentioned the mists quickly lift, argues Alan Holland, the CEO and Founder.

“We recently exhibited at the World Procurement Congress in London where the attendees in the auditorium were responsible for an annual spend of about $1,900 billion”, advised Holland. Business leaders are realising that one of the largest line items on the P&L needs greater attention and care.

Keelvar’s innovative solution is a product of the research lab, with Holland founding the company following the completion of a PhD on combinatorial auctions while at University College Cork.

“Keelvar’s sourcing optimization solution is already gaining strong traction” adds Alan Gleeson, the Head of Sales and Marketing. “One of the key global ‘thought leaders’ in procurement, Chicago based Jason Busch, recently issued a strong external validation of our approach in an article in the influential Spend Matters journal”, continues Gleeson. “In the report, he concluded that Keelvar’s mission was ‘firmly grounded in helping established professionals and suppliers make a transition to an entirely new sourcing and selling mentality. Simply put, I love it’.”

Keelvar’s solution is designed to help senior procurement professionals in private and public sectors source in a more strategic manner. The goods or services sought are broken into small lots, and suppliers are invited to bundle and package the lots into attractive combinations that match their footprint or strengths. Suppliers can then offer tiered discounts based on winning attractive combinations of business “Unlike typical more adversarial approaches where suppliers are squeezed on price, this approach turns the model on it’s head”, argues Gleeson. “It is a genuine win:win approach where both sides benefit from the transaction, and the side benefits are considerable as the increased flexibility on both sides offers buyers much greater control of the outcome”.

“We are transforming how big buyers go to market to source goods and services and delivering exceptional results”, adds Holland.




Email Newsletter Software by Newsweaver