Why choose FlexRFP?
- Is Easy to Learn and Use
- Reflects Your Day-To-Day Reality
- Is a Faster, Easier Start-up – resulting in faster ROI
- Increases Buyer Acceptance – leading to more spend under management
- Requires No Training for Suppliers – making it easier for suppliers makes it easier for you
- Seamlessly integrates with your chosen process
Regardless of the type or frequency of your RFPs, the goal of successful procurement is to minimize expenses while maximizing quality and terms of the transaction. How you design and administer your RFPs can have a big impact on the results. FlexRFP allows you to streamline the process of setting up and delivering RFP’s, increasing throughput.
If lowering expenses is an important sourcing objective, a reverse auction may be the solution. Also known as a ‘procurement auction’ or ‘sourcing event’, a reverse auction requires vendors compete on price to fulfill your product and service needs.
A “Soft Auction” is a similar bidding process that incorporates offering feedback to suppliers and conducting a secondary rounds of bids. FlexRFP offers a unique set of tools to facilitate both of these options.
In addition to all the tools you need to achieve great savings, FlexRFP includes tools to manage all aspects of your project from start to finish.
Our project management module allows you to map out your plan in advance, coordinate the activities of internal and external parties, and accurately communicate all details of the sourcing initiative with everyone involved.
From a management perspective, this tool set is ideal for knowing where you are in the process at any point in time and keeping personnel aware of their responsibilities through automated alerts.
Companies and organizations have spend data that resides in different procurement, payment and financial systems. When these systems don’t talk to each other, it’s a good bet that you’re leaving money on the table.
Spend analysis tools allow you to combine data from different payment systems into a single dataset. In addition, datasets are enhanced by adding organization, commodity dimensions and other key procurement information. The result is a powerful framework for examining and analyzing spend.
- Assess vendor capabilities, financial solvency, product/service quality and pricing
- Continually measure and manage vendor performance in order to sustain and improve the effectiveness and efficiency of your supply base
- Ensure that all supplier-related documents and periodic questionnaires (IT, risk, and general) are received on time and in the desired format
- Keep track of questionnaire due dates and document expiration dates
- Automate much of the negotiations process and simplify supplier on-boarding – making it easier to establish an initial relationship for both parties
Ideally, you should be able to manage this information from a single interface, using automation to alert your team to important dates and scheduled modifications. Contract data that is difficult to query or access will inevitably come back to haunt the organization. In some cases, the repercussions can be significant like an unanticipated rate hike or contract renewal.
Our solution is the add-on module for FlexRFP known as ‘Supplier Corrective Action Reporting (SCAR)’. This module makes it possible to quickly identify, track, report on, and correct issues. Anyone can report an incident as soon as it’s discovered and start the tracking and resolution process immediately, regardless if you’re the buyer, receiver at the warehouse, or even the engineer who discovers a faulty component.