DailyPay Leaves Pricing Guesswork Behind with Tropic’s Market Intelligence
About DailyPay
DailyPay is transforming the way people get paid. As a worktech company and the industry’s leading earned wage access solution, DailyPay uses an award-winning technology platform to help America’s top employers build stronger relationships with their employees. DailyPay is headquartered in New York City.
Diana Lulgjuraj is the Senior Director Procurement and Facilities. She brings more than two decades of experience in sourcing and procurement to DailyPay, where she helps execute the global procurement needs of the company.
The Challenge
A manual headache to find accurate pricing information
Strong negotiations rely on getting the best leverage, and DailyPay wanted market intelligence to help make more informed decisions about their supplier relationships.
But finding in-depth pricing information took significant resources and time. Traditional consultant-led efforts required inefficient back-and-forth communications.
“We relied on a combination of manual research, industry reports, and anecdotal evidence to gather pricing data,” Lulgjuraj explained. “This process was time-consuming and often yielded incomplete or unreliable results.”
Diana Lulgjuraj
Senior Director Procurement, Third Party Risk and Facilities
The Outcome
Immediate savings opportunities unlocked using Supplier Intelligence
With Tropic Supplier Intelligence, DailyPay can access supplier insights in real time, tailored to DailyPay’s needs and preferences. Lulgjuraj can review pricing information broken out by SKU and even compare pricing benchmarks to similar-sized companies.
“Supplier Intelligence has been a game-changer for us,” she said. “We've been able to use the benchmarking data to identify cost-saving opportunities and negotiate better deals with our suppliers.”
Within 5 months of use, the insights delivered from Supplier Intelligence have saved DailyPay thousands in purchases – including $50K from one negotiation alone. With more use, Tropic will personalize DailyPay’s negotiation guidance and trend information based on their previous spend.
Lulgjuraj added that Tropic's data-driven approach to providing the intelligence was “more efficient and comprehensive” than what consultants offered.
“It has become an essential tool for our procurement team,” she said. “The data gives us a clear understanding of market rates and supplier pricing trends. This allows us to enter negotiations with confidence and a strong position, knowing that we have the data to back up our requests.”
