Fair Price on Every Line Item. Independent Benchmarks with No Agenda.
Knowing what things cost in a B2B procurement environment should not be difficult. It is. Traditional distributors and B2B resellers have a direct commercial interest in keeping organisations uncertain about market pricing. Borong built MIDAS to change that, starting from the only position that makes genuine price transparency possible: a business model with nothing to hide.
Why Price Transparency Is So Rare in B2B Procurement
In consumer markets, price comparison is easy. You can check the same product across multiple retailers in seconds. B2B procurement does not work this way. Pricing is often negotiated bilaterally, varies by customer relationship and order volume, and is deliberately opaque. Distributors do not publish their margins. Resellers do not disclose what they paid for the goods they are selling you.
The opacity is not accidental. It is commercially necessary for businesses that earn their margin from the gap between wholesale cost and retail price. A distributor that shows you genuine market benchmarks is showing you evidence of its own markup. No commercially rational intermediary does this.
The result is that procurement teams, even well-resourced ones, operate with limited visibility over whether the prices they have negotiated represent genuine market rates. They rely on benchmark data from industry surveys that are months out of date, on informal market intelligence gathered through peer networks, or on the self-reported benchmarks of the very suppliers they are evaluating. None of these are reliable.
MIDAS: How Neutral Benchmarking Works
MIDAS is Borong's AI-powered price benchmarking and spend intelligence engine. It analyzes procurement transaction data and produces objective, continuously updated benchmarks for the categories your organisation purchases regularly.
Line-Item Price Benchmarking
MIDAS compares your organisation's actual purchase prices against market benchmarks derived from real transaction data across the network for the same or comparable products. This gives procurement and finance teams a clear, data-backed signal of whether costs are aligned to genuine market conditions or sitting above the benchmark range.
For procurement teams preparing for contract renegotiation, this provides concrete, market-grounded evidence of where current pricing is above what comparable buyers are paying. You go into a supplier conversation with data, not with intuition.
Cost Leakage Detection
Not all above-market spending is the result of poor negotiation. Some of it is the result of purchases that should have been made at a contracted rate but were not, because an employee purchased off-catalog, a supplier charged above the agreed price, or an invoice contained an error that went unchecked.
MIDAS detects these deviations automatically by comparing incoming purchase orders and invoices against your contracted rates and approved catalog pricing in real time. When a deviation is identified, it is flagged immediately rather than appearing in a month-end report after the payment has already been processed.
Category Spend Analytics
MIDAS aggregates purchasing data from across your organization into a clear category-level view. Procurement and finance leaders can see total spend by category, trend analysis over time, supplier concentration, and the distribution of spending. This provides the data foundation for meaningful procurement strategy conversations that cannot happen when spending is fragmented across disconnected systems.
What Makes MIDAS Benchmarks Trustworthy
Price benchmark tools are only as reliable as the interests of the organization providing them. A benchmark tool operated by a distributor or reseller will always be shaped, consciously or not, by the commercial interest in maintaining pricing that supports its trading margin. The benchmark will be calibrated to show you that you are paying a fair price because showing you otherwise would cost the provider revenue.
MIDAS operates on a fundamentally different basis. Borong is a platform facilitator that does not buy or resell products. We earn no margin on the goods passing through the platform. When MIDAS flags above-benchmark pricing or off-contract spend, we have no financial reason to obscure that finding. Our commercial interest is in making your procurement operation work better, not in protecting a trading spread.
This independence is not a marketing claim. It is a structural fact of Borong's business model, and it is what makes MIDAS benchmarks meaningfully different from any comparable tool offered by a platform with a commercial stake in your procurement outcomes.
What You Can Do With Real Price Intelligence
- Enter contract renegotiations with market-grounded evidence of where current pricing is above benchmark
- Identify cost leakage before it shows up in month-end reporting and recover credits on above-benchmark or off-contract purchases
- Build a credible business case for procurement investment by quantifying the savings that better visibility and contract compliance would deliver
- Hold distributed purchasing teams accountable for compliance by showing department heads where their purchasing patterns deviate from contracted rates
- Report to finance committees and boards with data-backed evidence of procurement performance rather than subjective narratives
MIDAS for Procurement Teams vs. Finance Teams
Procurement teams use MIDAS primarily for pricing and performance monitoring, contract renegotiation preparation, and identifying off-catalog purchasing patterns. The line-item benchmarking and deviation detection capabilities give procurement managers the granular visibility they need to enforce compliance and manage costs across decentralized purchasing operations.
Finance teams use MIDAS primarily for budget tracking, cost leakage quantification, and audit preparation. The category spend analytics and one-click audit export capabilities give finance leaders the consolidated reporting they need to accurately represent procurement costs in financial statements and provide reliable data for board and audit committee reporting.
Both functions share the same data and the same platform, eliminating the version-control problem that arises when procurement and finance teams maintain separate, frequently inconsistent records of the same spending.
Ready to See What Your Procurement Is Actually Costing You?
Stop relying on opaque distributor pricing and outdated industry surveys to manage procurement costs. Connect with a Borong solutions specialist to see how MIDAS can provide your organization with the price intelligence it needs.