Sourcing / Electronic Bidding
IWT’s premier bid management solution helps you achieve significant process efficiencies and cost savings. By automating the entire bid process from start to finish your work will be done in hours/days instead of weeks/months, and you will be leveraging stored supplier data and organizational templates, previous event data, and libraries for years. IWT’s Sourcing platform provides the tools to truly automate your professional procurement organization. Find out why many of our clients have made the switch to IWT Sourcing.
The solution provides professional purchasing agents the ability to create and issue bid requests online. The application can be configured to issue formal and informal bid events, and includes advanced data gathering features supporting complex Request For Proposals and construction bids. Suppliers receive email notification of opportunities and simply login to submit their electronic bid response. The application generates printable versions of each bid request to accommodate suppliers without internet access. Purchasing professionals can evaluate bid responses individually and/or leverage the application’s multiple bid tabulation reports which are generated automatically.
Electronic Bidding – Key Benefits
- Conduct online sealed bids, proposals, quotations, auctions and more – from creation to award.
- Quickly create events using templates, libraries, bulk loads, and unlimited file attachments.
- Easily invite all suppliers with matching commodity codes or manually select suppliers using diversity codes, custom bidders lists, or many other criteria.
- Suppliers are provided with an easy to use portal, allowing them to rapidly find and respond to events.
- Automatic validation of response data ensures that suppliers have provided valid responses to all required components.
- System generated bid tabulation spreadsheets and evaluation reports eliminate manual collation of response data.
- Audit logs, digital signatures, and data encryption provide a fair and secure business environment.
- IWT’s Supplier Management Module is included.
Benefits For Your Suppliers
- Self Service Registration including unique username and password selection ability
- Receive email notification of new sales opportunities and related addendum information
- Update company profile information, commodity code, business classifications, and diversity class associations on-demand
- Add additional company users to receive email notifications
- Access a listing of all messages sent to company email addresses
- Work collaboratively on a bid response with unlimited company designated users
- Download and/or Upload file attachments
- Error flags and reminders inform supplier(s) of missing information and/or required formatting prior to bid submission
- Review audit logs of an individual, company user(s) activity on a specific bid response
- View company responses and historical information related to all bid events including awards and losses
- Obtain bid tabulation results and competitive information reports (if published)
- Obtain historical bid award information (if published)
- Reverse Auctions provide suppliers with competitive information that enables the supplier to make a “Winning” bid decision.