London software startup launches in effort to support SME procurement lines

A London software startup has announced that it is launching an initiative to support SMEs via a new platform.

Oboloo, a cloud-based procurement software company, has launched this week, with the first ‘eProcurement’ software designed for SMEs.

The company aims to provide SMEs with control over their suppliers and contracts via the platform, and said that it is the first of its kind to cater to companies with fewer than 10,000 employees.

It has said that the platform could help companies save an average of between 7 to 12 per cent when they purchase goods and services through Oboloo.

James Lancaster, co-founder of Oboloo, commented: “Suppliers are an essential part of every business.

“Yet all too often they are overlooked, and as a result there is little or no consistency, transparency, or control over how suppliers are selected or managed.

“Covid-19 has exacerbated these challenges as SMEs struggle to maintain margins and supplier knowledge gaps emerge as a result of employees being out of the business.

“Our goal with Oboloo is to simplify the whole process, ensuring SMEs have accurate and up to date information at their fingertips so they can make the best business decisions to stimulate recovery and ensure growth.”