The value of request for proposal (RFP) software is that it provides a wide range of features that allow you to automate your quote requests on a simple, user-friendly platform. Companies can leverage their buying power by utilizing customizable, efficient tools. Let’s take a closer look at how using ProcurePort’s RFP software can benefit your business.

Creating Supplier Surveys

A survey allows you to vet your suppliers by asking a series of detailed questions you can use to make an informed purchasing decision. The questionnaire might include the following:

  • Company information, such as products, services, and history
  • Product or services provided
  • Cost of product or services
  • Delivery schedules
  • Product availability

Quote of a Group of Line Items

Rather than submitting an RFP for one product at a time, you can generate quotes on multiple line items simultaneously to get a total figure of all products. The software allows you to save your RFPs using cloud-based storage. That way you don’t have to fill out the form every time you want to submit an RFP. Condensing products into one quote speeds up the process and saves you time on your orders.

Side by Side Supplier Comparisons

If you are collecting multiple bids, the RFP software allows you to gather information from multiple companies based on your surveys and compare all answers side by side. You can customize your page to accommodate all types of side by side formats. This feature keeps you from toggling back and forth from page to page. You can assimilate all information in one easy-to-read page for faster decision making.

Side by Side Supplier Quotes

In addition to company information, you can also see a one-page side-by-side comparison of all quotes. You can organize these quotes by:

  • Price ranges
  • Products
  • Company information
  • Purchasing conditions
  • Delivery times

The RFP data is stored in the cloud where anyone in your company with the appropriate access rights can view it securely. RFP software eliminates time-consuming email and correspondence.

Negotiate Quotes Using the Multi-Round Process

RFP software eliminates spreadsheets with the multi-round process feature. Let’s say you’ve received 10 quotes from suppliers throughout the country. Using the multi-round process, you can instantly negotiate quotes and see multiple supplier responses in real-time as they’re coming in. Once you’ve viewed the final negotiation from all suppliers, you can make a quick decision on which supplier wins the bid.

Score Supplier Responses for Faster Evaluation

Scoring responses from suppliers can be challenging. RFP software eliminates the guesswork by scoring for you. All you have to do is setup the parameters. Scoring can be calculated using the following criteria:

  • Accurate comparison of vendors against RFP criteria
  • Weighting according to importance
  • Multiple parallel sets of weightings to reflect your priorities

Also, criteria can be grouped into sections, and scoring can be assigned at both the criteria and section levels. The software allows multiple evaluators in your company to contribute to the scoring process. Then, scores of multiple evaluators can be contrasted or averaged.

Smooth Integration With Your Current Accounting Systems

You may be concerned about utilizing the new RFP software with your in-house accounting systems. ProcurePort’s Cloud hosted RFP software easily integrates with your accounting systems so that you can combine the best of all features into a streamlined process.

You can share files, send purchase orders, store data, and communicate across multiple systems while storing it all in the cloud-hosted platform. RFP software allows you to communicate in multiple languages. You can use it globally with distributed facilities and suppliers in other countries.

Boost Your Supply Chain Workflow With RFP Software

By utilizing RFP software, you can leverage your negotiating power while creating a more efficient and more straightforward process for accepting bids and working with suppliers. To find out more about the features and benefits of ProcurePort’s innovative software, contact us at +1 866.643.8153 or message us at sales@procureport.com.

You may also be interested in: 10 Procurement Process Improvements That Will Have a Powerful Impact

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