A spark of efficiency in RFI, RFP, and RFQ collection and evaluation
Complex procurement with multiple stakeholder involvement has made the processes of requests for proposals and quotes more time intensive. The eRFX module of our platform helps streamline these activities, bringing transparency and better collaboration through a streamlined approach.
Why the Need for an Efficient eRFX?
The first step for businesses to get an edge in their strategic sourcing is to streamline the RFQ, RFP, and RFI collection and evaluation process. Yet as projects become complex with multiple stakeholders involved, RFQs evaluation becomes time and resource intensive, with complications in the process.
- At times single round of quotation collection may not get you the desired result making multiple-round quotation collection necessary
- Process visibility and transparency are likely to get highly affected, hindering decision-making
- Other issues, such as regulatory compliance, are becoming tough to track
A comprehensive eRFX solution means your teams and suppliers can collaborate and communicate seamlessly amongst themselves with enhanced transparency.
Optimize Strategic Sourcing Engine With eRFX as the Fuel
EffiGO’s eRFX module allows you to design, distribute, collect, and analyze RFIs, RFPs, and RFQs through a single process. Obtain and share information effortlessly across the entire organization and automate processes to increase efficiency. Our eRFX solution enables you to easily leverage all your supplier knowledge to optimize strategic sourcing and keep your team in the know about your suppliers.
Non Price Comparison
- Buyers can set up non-price components, such as payment terms, into terms and delivery terms for evaluation.
- Other non-price components can also be collected via dynamic fields, taking a comprehensive view of supplier offerings.
Corrigendum
- With EffiGO, issuing corrigendum is made simple. The platform allows buyers to issue corrigendum directly, with notifications automatically sent to qualified suppliers via email.
Note for Approval
- Once the RFQ process is completed the buyer has the flexibility to initiate the Note For Approval (NFA)/Award approval process to which users are assigned through workflow engine.
- Various workflows based on the material category, value of the purchase etc can be configured.
Price Template
- We offer multiple quote collection structures including taxes which can be defined during implementation. Additionally, new structures can be easily configured to meet changing needs.
Module Features – Under the Spotlight
QCBS scoring
- Score your suppliers on various factors (price, quality, technical capabilities, past performance, etc.)
- Even assign weightage to these factors
Multi-round quotation collection
- Launch another round of quotation collection
- Compare RFQs across rounds
- Award against RFQ received in any of the rounds
Excel Based Quotation Collection (BOQs)
- Best in the market excel-based quotation collection when collecting quotes or many line items in a single go.
- Create your own templates for collecting quotations
360* quotation comparison
- Evaluate quotes on non-technical parameters (warranty, guarantee, etc.), which are also available for comparison
Efficient eRFX System Equals Amazing Outcomes
Effortless RFQ Management
- Create and manage RFQs with ease
- Quickly set up criterion and evaluation methods
- Insightful dashboard to provide RFQ status and visibility
Real-Time Collaboration with Internal and External Teams
- Invite suppliers to respond to queries and doubts
- No need to maintain/ record email threads for RFQs
- Smooth evaluation by multiple involved parties
Multiple Comparisons and Eased Assessments
- Easy comparison between RFQs collected in different rounds
- Assign weights while evaluating RFQs, RFPs, and RFIs subject to business requirements
Highlighting Customer Success Stories
FAQs
eRFX
What is an eRFX and how does it differ from a traditional RFX process?
An eRFX is an electronic version of the traditional RFX (Request for X) process used in procurement. It allows organizations to efficiently gather information and bids from suppliers through a digital platform. eRFX differs from traditional RFX process in the sense that the former enables the automation of the procurement process, thereby, eliminating the manual work involved in managing RFX. With eRFX, buyers can easily distribute RFQs, RFPs, and RFIs, manage supplier queries, automate bid evaluation, and obtain supplier information and proposals all through a single, streamlined process.
How can the system help me streamline my RFx process?
We can help you streamline your RFx process by automating the collection and evaluation of bids, thereby reducing the time and resources required for manual RFx processes. It allows you to set up accurate, streamlined, and consistent RFx processes with automated evaluation from RFQs, RFPs, and RFIs, multi-faceted techno-commercial evaluation, multiple round quotation collection, and insightful dashboards for improving bid evaluation. Additionally, it offers real-time communication and doubt clarification with suppliers, increasing process visibility across multi-levelled supply chains, and automated results and reports, making your RFx process efficient and transparent.
Can I customise the RFx form and fields to suit my specific requirements?
Yes, the eRFx module of EffiGO’s procurement solution allows you to customise the RFx form and fields to suit your specific requirements. You can create and manage RFQs with ease and quickly set up criteria and evaluation methods based on your business requirements.
Can I invite suppliers to participate in the eRFX process directly from the system?
You can invite suppliers to participate in the RFx process directly from the system. Buyers can send out RFQs, RFPs, and RFIs to suppliers through the platform, and suppliers can submit their responses electronically. The system provides real-time collaboration with internal and external teams, and there is no need to maintain or record email threads for RFx.
Can I track the progress of my eRFX in real-time?
The module provides real-time tracking of the progress of your eRFX. You can track the status of your RFQs, RFPs, and RFIs through insightful dashboards and obtain qualitative and quantitative information readily available on the platform. Additionally, you can automate results and reports to gain visibility across the entire organization and optimize your strategic sourcing.
Does the system support multiple rounds of bidding or negotiations?
The eRFx module of EffiGO’s procurement solution supports multiple rounds of bidding or negotiations. Buyers can launch another round of quotation collection, compare RFQs across rounds, and award against RFQ received in any of the rounds. The system offers easy comparison between RFQs collected in different rounds and allows the buyer to assign weights while evaluating RFQs, RFPs, and RFIs subject to business requirements.
