Oops! Something went wrong while submitting the form.
> What is an eSourcing event and what are its main benefits?
In eSourcing, you do most of the sourcing process digitally. This makes the process much more efficient and transparent. You use digital tools to consolidate proposals, quotes, and bids from various suppliers and system make the time-consuming comparison for you.
The main benefits of eSourcing:
Increased efficiency eSourcing helps you find, contact and evaluate a large number of suppliers. You can also keep the competition going throughout the process without additional manual labour. All in all, it can result in serious cost savings.
Increased procurement value add Digital tools help reduce the manual labour of the procurement team. This way they’ll have more time for refining their other tasks, e.g. bringing more spend under management and increase internal customer satisfaction.
Transparency eSourcing typically uses a central portal that is an open playground for buyers and suppliers. It shows professionalism and trust of fair game. Suppliers can keep an eye on the key information, e.g. deadlines, statuses, etc.
Compliance eSourcing tools consolidate all relevant documentation, making it easier to track back or necessarily audit in the future.
> How does ProcurementFlow sourcing process work?
ProcurementFlow.com allows you to hold both regular sourcing events with eRFI and eSourcing events with eRFP / eRFQ.
This covers an estimated 85% of sourcing needs across industries.
It’s most effective for companies who don’t just manufacture standardised products but have a manufactured-to-order (MTO) or engineered-to-order (ETO) type of production, where the final design is not definitive from the beginning. A quick eRFI allows to scan through the market and get quick responses from multiple suppliers. After suppliers have confirmed their interest and willingness to participate, it's easy to move forward with an eSourcing event and send out invitations to participate either on an eRFP or eRFQ.
The biggest benefit for using eRFP and eRFQ compared to traditional email queries is automated offers comparison - this saves time for buyers.
> How will it help our organisation?
Time to Market
Nowadays speed is everything. In order to be ahead of your competitors and serve your customers better, or release new products and services faster, you need to use online tools which do the work for you.
Messages sent to and frome the suppliers are no longer in someone's personal mailbox. Instead, all relevant information is kept next to the request and updated automatically in an SRM.
eSourcing helps you find, contact and evaluate a large number of suppliers without spending any extra time. You can also keep the competition going throughout the process without additional manual labour. Automated comparison saves a lot of time for procurement.
> Can I get a quick 3-minute video overview?
Of course! Here it is:
> How long does it take to create and send out a first eSourcing event?
We have a proven track record that on average creating and sending out an eSourcing event to multiple suppliers takes ~15 minutes.
> What's the cost?
Bring everyone on board in a day!
Free & Unlimited Requestors
2TB Attachment Data Storage
Unlimited PO transactions annually
ChatBot for Requests
Set up your team with our consultant for free
Customer Support Priority
SAML SSO (Single Sign-On)
Solution that Supports entire Source-to-Pay Process
Simple way to keep Communication and Process in Sync
Easy Supplier Relationships and Contracts Management (SRM)
Smart Analytics and Procurement KPIs
Cloud-based eSourcing and Requisition Management Software
> 6 steps for setting up your first eSourcing event today
1. Sign up for a trial account... ...and wait a few minutes while our support team prepares everything for you. 2. Create a Purchase Requisition. There are multiple options for doing that in ProcurementFlow. Read more about this from here. 3. Drag the Purchase Requisition which is marked as ready to Sourcing pipeline. 4. Select eSourcing from 3 available options (RFI, RFP/RFQ or eSourcing). 5. Fill an eSourcing form with details... ...questions, pricing details - everything that you want to ask from suppliers.
6. Select suppliers either from the SRM or create new suppliers directly in an eSourcing form. Write a message and start eSourcing.
The only thing you need to do now is wait for the suppliers to respond. A comparison of both supplier answers and price offers will be generated for you automatically.