Today’s e-RFx tools like the Lotus Procure provide the sourcing professional with a bunch of benefits. The major benefits of an RFx management include:
Efficiency through reducing sourcing cycle time
In a conventional tendering process, information gathering and analysis is very daunting and time-consuming process. It takes a couple of months but due to RFX, it becomes easier and much more reduced in time. Now it takes only a couple of weeks. The additional expense and time are disappearing which is associated with distribution and collection of data document via overnight shippers or USPS. lotusprocure.in RFX ,RFP or RFQ allow sharing document within the organization by the sourcing team. Comparison of the supplier responses and at the same time evaluating multiple stakeholders’ responses saves so much of time and helps to make a faster decision.
Standardization collaboration makes Accuracy and consistency in the process
To maximize sourcing process effectiveness, the tools which help the whole process is a centralized repository with document library management, RFX work process management, and reusable templates formats. This makes a process more standardized that handle those tools is the base for reducing cycle time, process improvement, and global acquiescence. Digital RFx ensures stability within the business from person-to-person, from project-to-project, business-unit-to-business unit and encourages an environment of trust for suppliers.
Web based RFx has very significant role in the communication of all parties like team members, suppliers, and stakeholders so that they can involve in collaboration through a single tool. It enables them to share information, to involve in Q/A rounds, and receiving answers in response. It is the perfect tool for a centralized place for transferring knowledge between people, collaborating organization and projects.
The RFX module also comes handy with internal and external processes. It helps them to collaborate, collect internal demands, and forecast demand information. One can utilize them to lead internal surveys on current provider execution as a reason for inward provider score-carding. An electronic-RFx can even utilize to gather feedback on the procurement group’s presentation from internal stakeholders or to track procurement acquisition and resources. A decent e-RFx device is adaptable. Recognize data wasteful aspects and be innovative.
e-RFx additionally supports the center-led procurement process where procurement professionals in a center of fineness and continue the organization’s general supply chain and commodity sourcing strategies in support of the individual purchasing groups in each distinct purchasing organization. Also, since sourcing data does not physically live away, all past sourcing project data is accessible to the Sourcing Team, aside from when an associate leaves the organization.
www.lotusprocure.in offers a platform for RFX management which includes templates, centralized repository, common-sense formatting, data exportation, and security and access control and workflow capability.