Using Reverse Auction technology to maximize savings
A financial services Client wanted to leverage their company-wide expenditures for office supplies and consolidate their spend with one vendor. They were seeking to receive line item pricing across over 750 line items as well as run a reverse auction on a market basket of their largest spend items.
- 30% savings across RFP and auction process
- Only suppliers qualified through preceding RFI were invited to auction
- Project success solidified this as a Best Practice for
- A 750 line item sourcing project from RFI to award decision was completed entirely within FlexRFP™ in only a few weeks.