A cloud-based supplier negotiation tool for procurement professionals.

Challenge

Develop an online environment where procurement professionals can negotiate with suppliers through an efficient and structured process.

Solution

• A virtual space where employees from the procurement department can negotiate with suppliers, removing the need for time-consuming individual discussions, and reducing the final price of purchased good through increased supplier competition.
• Empower users to utilize various auction strategies across a range of auction types, encompassing Japanese, Dutch, Reverse, and Forward formats.
• Allow users to deploy configurable bidding rules to match an event, such as bid parameters and individual starting prices.
• Enable standardization on negotiations, by enabling users to reuse processes and templates.
• Enable eRFx bids to be transferred directly from Scanmarket’s eRFx module into eAuction opening bids.
• Allow users to assess suppliers by incorporating supplementary factors, such as switching costs, delivery options, and payment terms.
• Allow the bidding process to be transparent and dynamic, enabling suppliers to deliver competitive bids within minutes.
• Provide complete transparency into every stage and decision within the S2C process, eradicating potential conflicts of interest and mitigating any possibility of fraud or bribery.
• Implement an automated procedure that guarantees comprehensive visibility into past actions, offering users complete access to historical strategic choices and outcomes.
• Enable users to access a shared repository containing all communications, documents, and records of past activities.

Benefits

• Quickly determine the true market price.
• 13-17% average savings versus current pricing.
• 50% reduced cycle times.
• 46% increase in reuse of standard templates.
• 4-2.7% more cost savings on spend sourced through other eAuction tools.
• Reduce auction time from days or weeks to mere minutes.