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CU Marketplace FAQs

Q.What is e-Procurement?

Electronic procurement - generally known as eProcurement - is the automation and management of the procurement-to-payment process. It involves creating and approving purchase requisitions, placing purchase orders, receiving goods and services, and processing invoices through the internet.

Q. What is CU Marketplace?

CU Marketplace is the name that the University of Colorado has chosen for its eProcurement software. The software system was developed by SciQuest - a leading vendor of online catalog and ordering solutions for higher education and other institutions - and the CU Marketplace installation is hosted and maintained by this vendor.

Q. Why are we implementing this?

From an institutional perspective

Transforming our procurement process to eProcurement is an important part of an overall strategy for reducing costs and leveraging efficiencies. University systems like ours find that implementing eProcurement makes the purchase and payment processes faster, more efficient, and more policy compliant. Electronic procurement is considered the benchmark. As a result, the President's Task Force on Efficiency supports investing in an eProcurement solution for the University of Colorado.

From a campus department perspective

You should find it faster and easier to place your requisitions and purchase orders. You'll have quick access to a number of online catalogs for the University's most frequently purchased items; this will reduce errors in ordering and fulfillment.

Ultimately, our new eProcurement system - CU Marketplace - will help you quickly locate the best pricing with our preferred suppliers, find items on contracts, compare products across suppliers, and much, much more.

Q. How will CU Marketplace help me do my job?

If your job involves researching, ordering, or approving goods and services for your department...receiving goods...paying the bills...and/or reconciling departmental financial statements: then CU Marketplace should help you by making your procurement and reconciliation tasks easier, faster, more compliant, and more transparent (trackable). In particular, you'll be able to locate the best pricing with our preferred suppliers, find items on contracts, compare products across suppliers, and much, much more.

Q. How will it work?

With CU Marketplace, you won't need to work in PeopleSoft purchasing and payables screens anymore. Instead, you'll have an online procurement environment that will look more familiar and intuitive to those of you who order items for your personal lives using websites like amazon.com, target.com, and so forth.

Q. How will I get training?

The PSC Town Hall sessions are not training - they are an introduction to CU Marketplace and are intended to help prepare you to take best advantage of the new system. This is important so that - when hands-on training is provided - your department will already know who should attend which type of training.

For most of you, hands-on training will be available in July 2011. For the pilot departments, training will come earlier.

Q. Who is involved with this implementation?

A number of campus groups are leading and assisting with the CU Marketplace implementation, including:

    • Procurement Service Center - leading the project implementation and providing overall direction, guidance and decision making.
    • UIS - responsible for the technical integrations between PeopleSoft and SciQuest.
    • Campus Key Stakeholders - participating in the development of solution design via feedback and input.
    • Campus Pilot Groups - will be the first end users deployed onto SciQuest prior to the full campus rollout.
    • Finance & Procurement Business Services and the FinProHelp Desk - delivering training, documentation, and assistance

Q. When is it going to happen?

For most of you, implementation will be August 2011. For pilot departments, implementation is May 2011.

Q. How can I learn more about how this will affect me?

Sign up and come to a PSC Town Hall session!

Need help?

Finance and Procurement Help Desk

Email:
FinProHelp@cu.edu
Voice:
303.837.2161
Fax:
303.837.2160