Business Name: Biyore
Business Segment: MBA Fakhro / Greenfield Capital / Business Software
Year Founded: 2019
Fund Name: MBA Fakhro Two
Ownership: MBA Fakhro Two owns 100% of Biyore
Business Overview: Biyore is a procurement software with AI capabilities. Available at biyore.com, it is sold to clients on a SAAS (Software As A Service) model. Procurement software is a set of solutions that help to automate the purchasing work of companies. You can utilize it to do tenders that allow your suppliers to submit their best price for any given service, to raise and approve purchase orders, pick and order the product or service, receive and match the invoice and order, and pay the bill online. Your company’s procurement unit can make sure nothing can be ordered without proper approvals. Plus, they can get good value by combining multiple orders for the same types of goods and by getting discounted offers from suppliers for the contract. Large companies and multinational enterprises usually use a shared procurement system to gain from economies of scale and to reduce purchase costs.