OMX, events

By Nicole Verkindt | October 20, 2016

Thank you to everyone that came out to listen to my speech, Innovation: More than just a Buzzword, at GOCA on Wednesday.

Due to the time constraints, I was unfortunately unable to respond to all of the questions submitted using the GOCA app. So here are my answers if I was unable to get to your question.

Are there tools within OMX to qualify suppliers?

Yes. OMX has advanced search filtering that draws from information entered into the company profile. Users can search for companies based on capability, size, certifications, location, and exports, as well as woman and Aboriginal-owned.

Additionally, we have built the “verify” badge to allow companies to certify the quality of suppliers that they have worked with.

In the event that another infrastructure for similar programs is developed elsewhere (ex Malaysia), can your application be installed there?

Yes. OMX is currently working on integrating with other platforms. This year, we are going to be able to integrate with platforms such as SAP, Dassault Air Design software, and others.

Additionally, OMX is developing a specific government dashboard that will allow primes to report directly to various governments through the platform.

You’re measuring economic and social impact in Canada. What about measuring such impact in other countries. Do you have examples?

OMX is broadening its ability to do full socio economic impacts to include impacts to woman owned, veteran owned, and Aboriginal owned, as well as the impacts to the research, academic and entrepreneurial communities and clean tech sector.

My company has its own ERP software. My commodity managers will only use this system. How can OMX be integrated without adding work for me, the offset manager?

OMX’s API integration will be able to interact with various ERP software, allowing data entered on the platform to integrate with other platforms used by your company.

How does OMX ensure that data inputted by companies and how often are companies asked to update their data?

We have taken a similar approach to user data input as LinkedIn. When a user logs on and updates their company information, they are responsible for ensuring that the data they have entered is accurate. We have built a “claimed’ badge that will appear on a company profile when it has a user behind it. We encourage users to update their company data at least every six months and users can see the last time a profile was updated.

That being said, OMX has built a “Verify” feature where Primes can vouch for suppliers they’ve worked with to let other companies know that what they’ve said in their profile is true. We are in the process of building additional rating features where suppliers can be rated by companies that they have done work for. These ratings will only be visible to Prime contractors and suppliers won’t be able to see their own rating.

Obviously innovation cannot be mandated or forced by governments but in your opinion what can government do to create fertile ground for innovation culture?

There are a few things governments should be doing. First, they should be incentivizing large corporations, such as contractors with offset obligations to work with and invest in innovative companies. They can do this by allocating more points in evaluations for innovation or by providing high multipliers against the offsets. Second, Government should be funding innovation at the very early stages of a product’s development. I like the terminology "Government in, Government out" which they describe in this podcast: A History of Manufacturing in 5 Objects (

How have you recognized an employee for innovation?

In a team environment, I don’t believe that innovation comes from any one person. I think most of the time it works by one person having an idea and other team members responding by adding to it and critiquing it. This is especially true in the case of OMX, where our team is small and often works together in a collaborative environment.

What shampoo do you use?

This is really the most technical question. I usually just use the little hotel bottle shampoos, but I don't steal extras I swear. When I'm just coming into the office, the team is lucky if I have washed my hair in the morning ;)

***The OMX team had a productive week at GOCA and encourage Canadian businesses that are interested in gaining business from offsets to partake in the conference. GOCA offers a forum for companies involved in offsets and countertrade to meet, discuss opportunities and promote trade.***

Nicole Verkindt

Nicole is the founder and CEO of OMX, a Dragon on CBC's Next Gen Den, and a thought leader in the procurement industry.

Nicole is a political appointee to the Board of the Canadian Crown Corporation, a board member of the Peter Munk School of Global Affairs, and the official technology columnist for Vanguard magazine with a readership of over one million. In 2017, Nicole was named StartUp Canada's "Woman Entrepreneur of the Year."

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