Why use RFx Software
Save Time and Money While Optimizing Your Supplier Pre-qualification
RFx software is used gather both qualitative and quantitative information from supplier in one online platform. The supplier evaluation process is made easier as all information is gathered in one place, and one single file can be extracted containing all information.
eRFx Definition: Electronic Request for Information, Quotation & Proposal
"eRFx is an online tool for interchanging qualitative and quantitative information between a buying company and its potential suppliers"
In other words, eRFx is a piece for software, which can be used to share and collect information from suppliers. eRFx will typically substitute an email program as an enabler between buyer and supplier. Examples of an eRFx include a Supplier Pre-qualification (RFI) or a Price Collection (RFQ) or a combination Request for Proposal (RFP).
The Tradition Tender Process (Manual RFx) vs. Online eRFx
The traditional tendering process is a very manual and time-consuming process. All templates etc. must be created by the buyer and sent via email to the suppliers.
The buyer cannot track the progress of the suppliers' work, and can only sit back and wait for the deadline. This typically entails an extension of the deadline.
The traditional tender evaluation is an extensive task, as you might need to gather multiples files into one overall analysis. This is an error-prone process that ultimately can require re-making of the analysis or in a worst case scenario causes decision making based on incorrect data.
In online eRFx software, you can choose between a set of templates available and track the progress to ensure suppliers are completing the eRFx within the deadline.
The eRFx solution will automatically evaluate incoming information based upon predefined rules. At any time you can also extract the information to one file and do further analysis.