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MindFlow Technologies

MindFlow Extends Product Leadership in Strategic Sourcing Analytics With Latest Version
Version 4.3 Provides Enhanced Functionality, Scorecard and Even Greater Analyzer Capabilities

Plano, TX (ots)

In response to feedback from Global 500
customers, MindFlow Technologies, Inc., the pioneer of Strategic
Sourcing automation, has released version 4.3 of The MindFlow
Sourcing Suite™ that automates the end-to-end sourcing process,
delivering cost and time savings as well as reducing risk throughout
the supply chain. Version 4.3 enhances MindFlow's earlier releases,
which have generated millions of dollars in cost reductions for
Global 500 clients.
The MindFlow Sourcing Suite delivers the deepest and most
functional sourcing system available, now with six applications
designed by sourcing professionals and built on a common architecture
that integrates and optimizes sourcing processes spanning bid,
category and enterprise management. The optimization-based
architecture of The MindFlow Sourcing Suite enables modeling, rapid
collection and analysis of supplier responses to RFIs and RFQs,
producing optimal supplier and volume allocations.
Working in partnership with multiple Global 500 customers,
MindFlow's version 4.3 features even greater functionality, speed,
and value combined with enhanced ease of use. Sourcing professionals
are analyzing even the largest and most complex purchasing categories
more quickly than ever before. Other enhancements to the sourcing
system include:
--  Table control -- all screens have been redesigned to present
data in a tabular, spreadsheet-like format. The interface and
functionality is similar to Microsoft Excel®, which makes learning
the system easy for buyers and their suppliers.
--  More robust constraints handling -- added advanced discount
and rebate support, which allows the user to specify constraints at
any level (i.e. by bundle, bundle-buyer company location and many
others). MindFlow now handles more than 60 types of constraints.
--  Improved negotiation event functionality -- enhancements
include message center, an event-based discussion board for buyers
and suppliers, an advanced supplier portal where suppliers can access
all current and past events, reports and data import functionality to
make creating RFQs simple.
--  Enhanced buyer dashboard -- provides each user convenient
access to their projects, events and progress.
Earlier this year, MindFlow reported the release of its newest
module, Scorecard Analyzer[TM], that sourcing professionals use
collaboratively to evaluate suppliers, ensure consistent finished
product quality, increase supplier reliability and improve supplier
integration. It enables companies to build a reliable foundation for
supplier development and recognition.
The MindFlow Sourcing Suite automates each process within the
sourcing cycle to make repetitive tasks intuitive and complex
analysis easy. The system includes six modules that are built on a
common architecture and designed to work seamlessly:
--  Scorecard Analyzer™ -- Manages and evaluates supplier
relationships to ensure consistent finished product quality, increase
supplier reliability and improve supplier integration. Sourcing teams
develop an objective foundation for supplier development and
recognition, based on actual performance. Supplier approvals are
based on key performance indicator (KPI) metrics and weights, with
multiple qualitative and quantitative measurements. Users prepare and
complete evaluations, which are automatically translated into action
plans for suppliers and report trends and changes over time.
--  Sourcing Analyzer™ -- The "heart" of The MindFlow Sourcing
Suite is capable of solving even the most complex sourcing problems.
Its advanced optimization functionality is the key to effective
fact-based negotiation and making optimal, low-cost allocations.
Sourcing Analyzer is the enterprise repository of all sourcing item
category cost models, institutionalizing "best-in-class" sourcing
processes and knowledge.
--  Bid Analyzer™ -- Manages and executes the RFI/Q/P process
to easily collect and analyze supplier responses. By tightly linking
the RFx process with the sourcing model, supplier responses can be
evaluated against all requirements and constraints, generating
optimal allocations. In addition, the advanced data cleansing and
normalization capability of Bid Analyzer significantly improves
professional productivity by reducing data collection and re-keying
time.
--  Auction Analyzer™ -- Manages and executes the reverse
auction process to easily collect and analyze supplier responses.
Auction Analyzer takes the value of auctions to unequalled levels by
tightly integrating the auction and supplier responses with the
sourcing model. Bids can be quickly and easily analyzed against buyer
requirements, which significantly increases realized savings. Auction
Analyzer is user-friendly and delivers repeatable productivity gains
and cost reductions that can be easily applied to all categories. The
powerful TCO-based approach delivers value for both low- and
high-spend commodities.
--  Spend Analyzer™ -- Delivers both historic and future spend
modeling. The value of Spend Analyzer is maximized when it is tightly
integrated with the other sourcing modules, rather than functioning
as a stand-alone tool. Spend Analyzer provides a central repository
of critical spend information, facilitates analysis, reduces data
collection/re-keying time and improves decision-making.
--  Performance Analyzer™ -- Performance Analyzer is the first
sourcing performance measurement application that measures all cost
variances and can closely tie the purchasing organization's savings
claims to a company's earnings per share (EPS). Sourcing compliance
ensures the adherence of procurement execution to sourcing strategy
plans. Performance Analyzer builds credibility with the finance team
as all savings projections are easily validated and quantified.
"Version 4.3 of The MindFlow Sourcing Suite extends our product
leadership. Coupled with our sourcing expertise and services, we're
able to deliver large scale and recurring savings to our customers,"
said Jay Reddy, Founder and President of MindFlow. "The enhanced
functionality of our product stems from our constant interaction with
our customers, working hand-in-hand with them to develop an
enterprise sourcing strategy."
About MindFlow Technologies
MindFlow Technologies helps companies save time, save money and
reduce risk with leading Strategic Sourcing applications. Large and
small companies accelerate e-sourcing initiatives with MindFlow's
complete sourcing automation, essential decision intelligence and
deep domain, category expertise. The MindFlow Sourcing Suite[TM] is
the premier end-to-end sourcing platform -- comprehensive spend
analysis, event management, sourcing analysis, supplier development,
contract management, performance reporting and sourcing compliance.
In close partnership with marquee customers, MindFlow has sourced
billions of dollars in direct and indirect categories and enabled
many millions of dollars in cost reductions. MindFlow Technologies
headquarters is located at 6504 International Parkway, Plano, Texas.
For more information, visit www.mindflow.com.
Media Contact: 
Diane Murray 
Email:  diane.murray@mindflow.com 
Phone: +1-(972) 930-9988 x104