Written by: Amy Cornforth

Posted on: 09/07/21

Transform Your Tenders in 2021: Why You Need a Standardised Process.

Managing a tender can be an incredibly tricky process at the best of times, but the bottom line is, without an efficient, standardised procedure in place, they are always going to be complex to manage. The answer to this issue is to put an effective system in place, save a great deal of time and unnecessary energy, and be able to run a tender with absolute confidence in the result.

Managing a tender can be an incredibly tricky process at the best of times, but the bottom line is, without an efficient, standardised procedure in place, they are always going to be complex to manage. The answer to this issue is to put an effective system in place, save a great deal of time and unnecessary energy, and be able to run a tender with absolute confidence in the result.

If you don’t already have a standardised process in place when running tenders, the following scenarios may be recognisable to you.

When managing large online requests for information, it can provoke many responses, therefore, it can result in a variety of different ideas regarding the method of formatting.

The information you’ll receive will be sent to you in a variety of different formats. This makes the information incredibly difficult to compare and analyse, therefore, it is a challenge to truly assess suppliers and select the suppliers who best suit the needs of the company.

In addition to this, when the information is sent to you by suppliers, there’s always the possibility that there will be missing information, which results in time spent chasing the supplier for the data they’ve missed. Although this seems like a small task, the repetitive nature means that it can start to dominate larger portions of your time.

According to a survey by 3GEM, procurement teams spend between one and two days a week on average chasing suppliers for information. This is wasted time that could be utilised more effectively by procurement professionals.

Overall, by using spreadsheets or paper-based systems without a standard procedure in place, your tenders end up being overwhelmingly difficult to organise. Without being able to place the data into a standardised, viewable framework, it’s difficult to see a comprehensive overview of the options on-hand, therefore it’s difficult to assess whether you’ve selected the suppliers which best fit the needs of the company.

Trade Interchange’s supplier tender software ARCUS® eRFX allows you to implement a standardised tendering system within your current procurement procedures, ensuring that all suppliers adhere to the desired tender format whilst always including all the information the company needs, eliminating the need to chase the suppliers for missing details.

ARCUS® eRFX operates from a centralised, cloud-based system, which allows the suppliers to complete their questionnaires and directly into the system, decreasing the risk of any errors which come from re-keying data and saving time for the professional, as the information is placed into a standardised framework. The software can be securely accessed at any place, at any time.

If you are interested in learning more about how ARCUS® eRFX can transform your tenders, then download the case study here, or contact us at Trade Interchange.

 

 

 

eRFX Case Study

To learn how Morrisons use eRFX, have a look at the case study.

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Read Factsheet

To learn more about eRFX, have a look at the factsheet below.

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Why ARCUS® Source?

To learn more about our ARCUS® Source family of modules, have a look at the brochure.

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