eRFx

eRFx (Electronic Requests): An eProcurement tool to issue/manage Electronic Requests for Information (eRFI) / Requests for Proposal (eRFP) etc. and invite suppliers to submit responses via the internet on a secure web site.

NeedApproachBenefits
Need
Need
Traditionally Rfx is conducted via email, fax, telephone or other telecommunication means either for price or information enquires. Manual process has many disadvantages like handling and processing cost, loss of information, unstructured data, no centralised information to access. There is need to bring all the manual process to single platform called eRfx. The eRfx helps companies to organise and centralise the buying procedure. All the buying related data is stored in one place and can be accessed by any person and anytime. It helps buyer in comparing and evaluating supplier by the pool of data in e-Rfx. The more structured this information is, the easier it is to compare the suppliers. Therefore eRFX software should help the buyer to compare suppliers in useful ways.
Approach
Approach
Our eRFx service is a web hosted and a secure online tender and quotation method where buyers request information and price quotations from the sellers. In this web based system, the suppliers respond to the buyer’s requests online and this information will be used for further references and supplier evaluation.

Our eRfx tool has following features:

eRFx templates, clauses, repeatable
centralized, open, and transparent purchasing
procurement based on right matching of capabilities and transaction
Instant eRFx distribution, Updates, Collation
Instant Evaluation, Flexible customizable Cost Sheets
Easier and faster for Suppliers
Group / Individual emails for queries & discussions
Usage of Industry best practices for RFQ creation

Our eRFx solution provides our clients with a fully featured instant eProcurement solution. eAuction service allows buyers to post RFxs (Requests for quotation, Request for information, Request for Proposal) to the suppliers.

RFI (Request For information) – the main goal of this is for the buyer to gather all the information pertaining to the product or service the supplier is providing. Our web based RFI enables the buyer to seek the required information from the vendor by sending questionnaire chosen from wide variety of templates available with us.

This information is used by the buyer to validate, compare between services/products of multiple vendors. This information is further used as it provides a document for future negotiation purposes.

RFQ (Request For Quotation) & RFP (Request for proposal) – after the RFI process takes place, the buyer screens the vendor based on the responses derived from the questionnaire. The buyer then requests for a quotation or a proposal from the vendor for the exact specifications of the chosen material, the final price for the number of units required, tax etc.

Benefits
Benefits
For Buyers

  1. Can choose and select from a wide variety of suppliers validated by us.
  2. Availability of structured data in a single platform
  3. Can realistically evaluate and compare the suppliers with the detailed information we provide.
  4. High transparency and secrecy would be maintained in the whole process.
  5. Zero labour cost.
  6. Error free and faster executions.
  7. Reduces time spent on communication and tracking supplier details.
For Suppliers

  1. To be a part of our clients’ regular list of suppliers if delivery of commodities/services are found to be good.
    Can benefit from higher margins.
  2. Access to detailed information regarding the requirements which will help in in decision making and pricing
  3. Develop links and large customer base.

Our web based eRFx service helps in reducing all the limitations of the traditional RFx services. The wide variety of templates for the RFI can be customized to the needs of the customers and also gives them a wide range of questions to choose from. Some of the benefits customers would experience having our eRFx service
Since the system is web based, the usage of labour involved in preparation, distribution, and analysis is zero, our service brings you efficiency
Web based lessens the process time as the time spent on communication and tracking supplier details is drastically reduced
Provides platform for automatic central management and storage system