University of Maryland Deploys Spend Management Tools

The University of Maryland, College Park is rolling out a suite of spend management tools from cloud-based e-procurement provider ESM. The technology will help automate procurement, streamline sourcing and boost savings, according to a news announcement.

Features include:

  • An online marketplace that guides users directly to negotiated contracts and approved vendors;
  • An online contract repository for saving, searching and finding existing contracts and templates;
  • A collaborative marketplace for streamlined solicitation and bidding; and
  • Functionality for securing and managing diverse vendors, such as women-owned, minority-owned, small and veteran-owned businesses. (Reporting on these criteria is typically required to meet state and federal guidelines for grants and other funding.)

The deal with ESM allows other University of Maryland institutions to launch the tools as well.

The university has also partnered with Huron Consulting Group to help with the strategic transformation of its procurement initiatives, the announcement said. The consultancy will provide "on-site professional expertise related to procurement practices, business process transformation and change management during the implementation process."

About the Author

Rhea Kelly is editor in chief for Campus Technology, THE Journal, and Spaces4Learning. She can be reached at [email protected].

Featured

  • simplified, abstract illustration focusing on the negative side of generative AI misuse, balancing the concepts of cybersecurity and human impact

    Researchers Provide Breakdown of Generative AI Misuse

    In an effort to clarify the potential risks of GenAI and provide "a concrete understanding of how GenAI models are specifically exploited or abused in practice, including the tactics employed to inflict harm," a group of researchers from Google DeepMind, Jigsaw, and Google.org recently published a paper entitled, "Generative AI Misuse: A Taxonomy of Tactics and Insights from Real-World Data."

  • clock with gears and digital circuits inside

    Report Pegs Cost of AI at Nearly $300K Per Minute

    A new report from cloud-based data/BI specialist Domo provides a staggering estimate of the minute-by-minute impact of today's generative AI boom.

  • stylized illustration of a college administrator lying awake in a cozy bed, looking thoughtful

    When Thinking About Data, What Keeps You Up at Night?

    The proliferation of technology in education means we have more data about how, what and if students are learning than ever before. The question is, how do we ensure that data gets into the hands of the people who can use it to improve teaching and learning, without invading a student or educator's privacy?

  • a glowing gaming controller, a digital tree structure, and an open book

    Report: Use of Game Engines Expands Beyond Gaming

    Game development technology is increasingly being utilized beyond its traditional gaming roots, according to the recently released annual "State of Game Development" report from development and DevOps solutions provider Perforce Software.