Building on Success, Industry Need, Virtual Procurement Services Restructures to Create Three Companies

WESTPORT, Conn., June 8, 2021 /PRNewswire/ -- Necessitated by growth and to better serve its clients, Virtual Procurement Services (VPS), an analytically-driven procurement company based out of Connecticut and serving clients globally, today announced a restructuring to create three companies. FF&E Analytics, VPS Analytics and OS&E Analytics, previously VPS divisions, now serve as distinct and separate entities recovering and reducing costs associated with the acquisition of furniture, fixtures and equipment (FF&E); enterprise technology; and operating supplies and equipment (OS&E), respectively.

Founded in 2009, Virtual Procurement Services has helped hundreds of customers domestically and abroad recover or save more than $500 million. VPS utilizes a proprietary predictive analytics tool called Virtual Vendor Index© (VVI). Originally created to handle technology purchases, VPS responded to a demand across other industries, adapting VVI to accommodate new areas of spend.

"Our process helps our customers benchmark procurement spending to retain and recover capital," explained CEO and Founder of VPS, Scott Robins. "VVI uses publicly available data sets and processes them through an AI-driven analytic engine to calculate predictive pricing. We are the only company that pairs these advanced analytics with proprietary processes to reduce the cost of new purchases and recover money already spent. That's what sets us apart."

A steady trajectory of company growth and increased customer interest in recovering and reducing costs associated with FF&E, OS&E and enterprise technology purchases necessitated the refinement of VPS' business model. Robins describes the move as a natural evolution of his company and as a way to deliver more focused efforts to a larger customer base across a broader spectrum of industries.

Since its founding, VPS has helped its clients realize substantive capital and operational savings, a trend Robins and his team predicts will continue. Robins furthered, "We are poised to support new and existing customer purchases in the financial services, gaming, healthcare, senior living and hospitality industries. We pride ourselves on our ability to offer creative ways to deliver more value to our customers. This latest move proves that we will never stop disrupting, transforming and improving the sourcing process."

To learn more about Virtual Procurement Services or its divisions—FF&E Analytics, VPS Analytics and OS&E Analytics—visit virtualprocurement.com.

About Virtual Procurement Services
Founded in 2009 by CEO Scott Robins, Virtual Procurement Services (VPS) was the first, and to-date, only, company to leverage its [exclusive – OR – proprietary] predictive analytics tool, Virtual Vendor Index VVI©, to recover and reduce the cost of technology spends. Now, following a steady trajectory of company growth and increased customer interest in recovering and reducing costs associated with the acquisition of furniture, fixtures and equipment; enterprise technology; and operating supplies and equipment, the VPS business model has been refined. Former divisions FF&E Analytics, VPS Analytics and OS&E Analytics now serve as separate entities. The natural evolution of VPS brings more focused efforts to a larger customer base across a broader spectrum of industries and further changes the procurement landscape. For more information, visit virtualprocurement.com.

Contact: Lisa Twarog or Michelle Abdow
(413) 787-1133
[email protected]

SOURCE Virtual Procurement Services

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