Improve the current approach to purchasing with tools, data, and community.
Execute easy RFPs, RFQs, RFIs, and reverse auctions.
Replace email and spreadsheets or augment your existing source-to-pay architecture.
Why Do Buyers Use RFPs to Purchase?
For large or important purchases, buyers solicit supplier proposals in competition
To find the best solution for the problem they seek to fix
To obtain a reasonable price
To establish a relationship with a reliable supplier
Get this right and it’s called value-for-money
What Information Do Buyers Want to See?
Buyers want to understand the different ways they can address their problem
Answers to a structured set of questions
Text explaining supplier’s understanding of the problem
A description of the proposed solution
Ideally, the supplier’s proposal is responsive to the buyer’s questions
EdgeworthBox streamlines the process for setting up and posting an RFP
What Specific Actions Does the Buyer Take?
Buyers need to make it as easy as possible for suppliers to give them what they want
Discover all the relevant suppliers they could solicit
Woo suppliers into submitting a proposal
Provide suppliers complete description of the organisation and its problem
Drive supplier engagement
Review and rank all submissions
Obtain internal consensus on the winning bid
Ideally, buyers get the right solution at a reasonable price and suppliers get a long-term customer
EdgeworthBox creates the conditions to drive more supplier proposals and to coordinate stakeholder review
How Do Buyers Assess Suppliers?
Buyers rate proposals and they rate suppliers
Scoring tools for rolling up a cardinal ranking of submissions across multiple stakeholders
Sophisticated reference checks of prior supplier performance
The right approach avoids much post-implementation trouble
EdgeworthBox has dedicated scoring tools and a dedicated method for executing supplier verification
How Do Buyers Keep Track of Data?
EdgeworthBox has repositories of structured data for both buyers and suppliers.
Sourcing made simple.
- Faster cycles
- Lower transactions costs
- Lower opportunity costs
- Market intelligence
- Supply chain visibility
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