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Enabling procurement professionals to focus on the core of their activities
Companies of all sizes often need to purchase large quantities of goods or services in a tendering process. Tenders need to conform to a set of formal rules and should follow a strict sequence of events which guarantees that the supplier assessment happens in an unbiased, objective manner. Essentially you want to create a level playing field.
In the procurement industry, you'll find a ton of best practices and templates. However, the core workflow is mostly still organised in a manual, labor-intensive manner through emails, excel files, and phone calls.
With ValCoRi, we decided to tackle this workflow in a holistic manner, leveraging the possibilities of digital technologies and robotic process automation. We're building a platform that serves buyers as well as suppliers and which eliminates all inefficiencies throughout the purchasing process. We're putting structured data collection at the core, allowing for continuously increased platform intelligence.
In the procurement industry, you'll find a ton of best practices and templates. However, the core workflow is mostly still organised in a manual, labor-intensive manner through emails, excel files, and phone calls.
With ValCoRi, we decided to tackle this workflow in a holistic manner, leveraging the possibilities of digital technologies and robotic process automation. We're building a platform that serves buyers as well as suppliers and which eliminates all inefficiencies throughout the purchasing process. We're putting structured data collection at the core, allowing for continuously increased platform intelligence.
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I've been active in the procurement world for over 20 years already. Prior to that I got to know the ins and outs at PwC Belgium. Even though the world has digitalised at a rapid pace, procurement practices still rely on the same principles at often tooling that I used at the beginning of my career. It's exciting to be innovating in this space jointly with the can-do attitude of the whole Panenco team.
Our joint mission statement
To smoothen automated workflows and introduce the power of data intelligence in the procurement industry while staying true to the core principles and ethics of the profession.
Company journey
Turning years of industry experience into a technology scale-up success story
2019
2019
Founded
Stef Brismoutier, Frank Deferm and Kris Desmedt created a new legal entity and defined the original mission statement
Stef, Frank and Kris got in touch with the Panenco team to start the initial ideation phase for the NewCo.
2020
2020
Minimum viable product version released
Early adopters and friendlies were onboarded to provide their early feedback
The Flemish agency for innovation and entrepreneurship, Vlaio, supported QIT with a research subsidy. The funds were leveraged to create an initial minimum viable product to start validating the base product assumptions.
2021
2021
Seed funding - structural partnership
After years of close cooperation, the Panenco Group lead a capital investment round
As the professional relationship intensified throughout the product development trajectory QIT and Panenco decided to structurally partner up by means of a capital investment from the Panenco Group.
2021
2021
Exciting partnership news coming soon
Unifying multiple perspectives
Building the right product for the right target audience with a sustainable revenue model
User
We're keeping a constant balance between standardisation on the one hand and flexibility on the other. There's no unified workflow to create tenders, since they will all have specifics. We're actively listening to our users to find the most common denominator in this balance.
Business
We're building ValCoRi according to SaaS business principles. We'll be serving SME and large organisations. The business model will be centred around effective subscription-based usage.
Tech
ValCoRi is built on top of Google Cloud Platform. We aspire to have public API connections which can link to existing systems. On a continuous basis, we're defining, designing and delivering new features.
Core feature set
Giving procurement professionals the tools and methodologies to focus on their essential added values throughout the buying process.
Creating a tender
Determining the project management aspects of a pending tender: teammates with whom you'll be collaborating, timelines, objectives and key operating parameters.
Request for Value (RFV)
An open request to prospect suppliers about the value they can deliver based on the initial product requirements that you list. This i a qualitative rather than a quantitative measurement.
Request for Proposal (RFP)
A quantitative request towards prospect suppliers based on exhaustive product specifications. Based on the defined success criteria and their weights, objective decision making is facilitated.
With a keen eye on the entire user experience
A cross-platform approach for web and mobile interfaces.
Making Valcori happen
Stef Brismoutier
Co-founder // MD Progressio
Kris Smet
Co-founder // Business development
Frank Deferm
Co-founder // Product owner
Co-founder // Technical lead
Dries Croons
Co-founder // Software engineer
Koen Verschooten
Panenco // Product manager
Vlad Chernii
Panenco // Software engineer
Oleksandr Kanskiy
Panenco // Product designer
Sebastiaan Viaene
Panenco// Software engineer
Sergey Dieev
Panenco // Software engineer
The only way is up
We were incredibly excited to unleash our product development philosophy onto the traditional procurement industry. By having grounded industry experts on board as co-founders, we rest assured that the ship will always be sailing in the right direction with a good sentiment for all levels and hierarchies of procurement organisations.
We're curious to hear about your upcoming product innovations