Standardization and Compliance
A Scanmarket Use Case on eRFx
A solution to establish standardized processes for procurement activities.
Challenge
Create a solution that enables organizations to establish standardized processes and templates for pre-qualification and supplier shortlisting, ensuring consistency in sourcing practices and promoting compliance with procurement policies and regulations.
Solution
- Using a centralized and controlled eSourcing process, users are provided with a streamlined and enhanced approach to prequalification, analysis, and shortlisting of suppliers.
- Allow the design, distribution, collection, and analysis of RFI’s, RFP’s and RFQ’s, and related information shared throughout an entire organization.
- Enable users to run several types of eRFx events such as Cherry Picking, CherryLot and List.
- Provide users with the option to combine RFI and RFQ data in a customizable BidMatrix, that helps them collect, organize, and evaluate up to one million data points.
- Implement advanced filters that allow users to search information by event type, number of invited suppliers, past supplier responses, and pricing.
- Enable the comparison and ranking of suppliers on qualitative and quantitative measures, as well as soft values.
- Enable users to outline optional questions for suppliers and create the bidding structure to be completed by suppliers.
- Make any supplier-related documentation instantly available for auditing.
Benefits
- 50% reduction in cycle times for RFX execution.
- >14% average cost savings.
- Collection, organization, and analysis of large quantities of complex bidding data into information that can be used to make data-driven business decisions.
- Protection against bribery and corruption.