TIDMCBUY TIDMEUSP

RNS Number : 8030E

Cloudbuy PLC

21 July 2016

cloudBuy signs contract with University of Exeter

New e-procurement system will enable 4,000 staff to purchase goods and services online against contract agreements

July 21, 2016: cloudBuy plc, the global provider of cloud-based e-commerce marketplaces and B2B buyer and supplier solutions, is pleased to announce that it has signed a contract with University of Exeter for the supply of a new online procurement system. This will provide an intuitive way for the University's staff to buy goods and services against contract agreements with a wide range of suppliers. cloudBuy is partnering with EU-Supply (AIM: EUSP) (to provide a full solution including e-marketplace and e-tendering capabilities.

The contract is for an 8 year period and will contribute revenue in the current financial year. Revenue is a mix of implementation and SaaS licence support and hosting. The project will deliver an accelerated phased implementation, providing benefits at each stage, leading to a Source to Pay solution fully integrated with the University's finance system.

John Malloch, Head of Procurement, University of Exeter said, "The introduction of this system is important to increase the purchasing efficiency across the University. We ran an exhaustive selection process including detailed written responses and vendor demonstrations to our team. We wanted a solution that could really deliver 'next generation' e-procurement. The cloudBuy and EU-Supply solution best met our requirements and will be implemented over the next few months. We expect this to be one of the first examples of a fully integrated Source to Pay solution in our sector."

Lyn Duncan, cloudBuy CEO said, "cloudBuy has extensive e-procurement functionality and a wealth of experience from projects in the Education sector. Exeter has a reputation as an innovator and we look forward to delivering a successful project together with the university and EU-Supply that will become an example of best practise in the Higher Education sector."

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For further information, please contact:

 
 CloudBuy PLC                 Tel: 0118 963 7000 
  David Gibbon, CFO 
 Arden Partners plc - NOMAD   Tel: 0207 614 5900 
  and Broker 
  James Felix / Patrick 
  Caulfield 
 Alma PR                      Tel: 0208 004 4218 
  Josh Royston / Hilary 
  Buchanan

About cloudBuy plc

cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and sellers - and brings them together to trade securely and ethically via an increasing number of public e-marketplaces and private purchasing portals around the world, powered by cloudBuy technology. cloudBuy solutions for buyers help B2B purchasers understand and control their spend, to reduce costs and increase value. Our cloudSell solutions enable sellers of all sizes, from startups to corporates, reach new customers and grow their business. cloudBuy's technology platform powers web sites, public marketplaces and private purchasing portals that enable all types of online interactions and relationships including, citizen and business to government; consumer to business; and business to business.

For more information, visit: www.cloudbuy.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 21, 2016 02:00 ET (06:00 GMT)

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