Strategic Sourcing Tools & Methods

Wouldn’t it be great if you had one system that not only focused on the procurement and budgeting of the products and services you needed but also assisted you in finding the suppliers to partner with and ensure you are getting the best value – we have several ways of assisting you with that process using supplier bidding, closed tender offers, open bidding, sealed bidding, use of punch out catalogs to compare prices, on-boarding workflows etc.

Request For Information (RFI)

You would normally issue an RFI to a vendor you have never done business with before – this gets them into your database for future reference and use.

In the RFI you are asking them basic questions e.g. Their field of expertise, their locations, their corporate structure, their main contact points, their products/services – for possible inclusion in a later RFQ exercise.

This is all handled by our Vendor Onboarding Process Tool.

Eyvo eBA software contains an automated RFI module that allows you to send out emails inviting suppliers to register themselves on the eBA’s Supplier Portal and submit any supporting documents/certificates/tax returns etc – their inclusion is approved by the eBA systems admin and they are then eligible to receive RFQ’s from you or to respond to RFP’s.

Request For Quotation (RFQ)

In eBA the RFQ is sent directly to suppliers that you already know asking them to quote their best price and lead time etc for a set of predetermined goods/services that you need now or in the future.

You can use our RFQ feature to run theoretical exercises to find out vendor item prices or to prepare routine vendor documentation.

request for quote

Request For Proposals (RFP) aka Reverse Auctions

Also, known as eTendering, this is generally (but not always) used by our government clients. This process allows you to gather up all the criteria for the job you need done and publicize it on the public side of our eProcurement system. This allows interested parties to register as potential vendors/bidders  who can then (if approved) download the full RFP docs and submit a bid.

You have the option of running an OPEN or Public RFP or a CLOSED RFP – If its closed then the system assumes its either a fully or partially private process or a sealed bidding process – you can define which it is within the software – and the bids all have to be in by a certain pre-defined deadline.  If its a Sealed Bid then no one (including you) will be able to see the bids internally until that deadline has passed – if it private – it means that you can see all the bids as they come in but the bidders cannot see each others bids unless you want to open up certain parts of the bid to be visible.  e.g. you might want to allow the bidders to see each others company names and/or their bid amounts – you can decide that on a per auction project basis.  Furthermore, if suppliers have any specific questions about the RFP, there is a public Q&A forum that all the suppliers can see – so the process is truly transparent and fair.

Feature List

  • Produces a “pick list” of the most relevant suppliers
  • Structured on-boarding of new suppliers
  • Communications via central supplier portal
  • Sealed or Open bidding
  • Maintain RFQ performance metrics on each supplier
  • Comprehensive Bid Analysis of received quotes
  • Generate copy RFQs and RFPs with no retyping
  • Attach multiple external documents to any RFQ or RFP