NEXT GENERATION STRATEGIC SOURCING SOFTWARE
Taking the pain out of complex procurement projects, supplier engagement, diligence efforts, managing contracts, and cross-departmental collaboration. Our user-friendly sourcing tools provide procurement teams with advanced automations and insights helping them clearly identify the best decision in less time.
I'm A Buyer
I’m a procurement professional that conducts strategic sourcing initiatives like crafting RFPs, inviting suppliers to bid, evaluating and awarding responses, and tracking the associated contract. I am open to seeing a better way to conduct my sourcing initiatives.
I'm A Supplier
I’m a business that sells goods or services to other organizations. One way I earn business is by responding to RFPs and submitting proposals. I want to register to be an approved vendor and receive notifications about relevant solicitations.
A SOURCING PLATFORM BUYERS AND SUPPLIERS LOVE
You shouldn’t have to compromise powerful features for ease of use. Our solution was designed to be extremely powerful for buyers while maintaining the simplicity that suppliers need. This leads to rapid supplier adoption and robust insights that help procurement professionals clearly identify the best decision in less time.
Strategic sourcing software for modern public procurement teams
A better, faster way to manage your SOURCING SOLICITATIONS RFP EVALUATIONS CONTRACTS SUPPLIERS
Leverage your procurement analytics to maximize savings, improve vendor satisfaction, and make better sourcing decisions.
Automatic error checking, proactive warnings, dashboard alerts, and so much more help ensure that you stay compliant and reduce costly mistakes.
Built-in individual and mass messaging, question & answer, and commenting functionality allow you to stay connected anytime, anywhere.
Templates, libraries, and auto-tabulation features digitally transforms the sourcing process without compromising on compliance.
SAVE TIME WITH TEMPLATES
Templates allow your organization to standardize verbiage, requirements, layout, and other information. Procurement leaders reduce the creation time, ensure adherence to organization policies, and improve consistency throughout your sourcing projects by leveraging templates.
Improve communication & Collaboration
Our solutions simplify supply chain communication activities. Potential suppliers are automatically notified by commodity code about relevant bid opportunities. Contract administrators and key stakeholders receive reminder notices at user-defined intervals of coming contract and insurance certificate expirations.
Reduce Sourcing Errors
Our Sourcing Suite has built-in error checking to ensure that all bids and RFPs are completed without errors. Configurable fields allow you to easily establish response expectations (text, drop-down, percentage, etc.) normalizing information for an apples-to-apples comparison. Bid responses are scanned for possible errors with instructions on how to correct the error, thus improving supplier performance.
Track vendor engagement
Gain full visibility into your suppliers’ activities throughout your procurement process with our real time vendor tracking features. Monitor suppliers as they open your emails, make progress on their RFP response, or submit their proposal. Dive deeper with our Audit History functionality that provides a detailed timeline of the users’ actions.
Make the best strategic sourcing decision
Once unsealed, solicitation information is automatically grouped and sorted for you. When the lowest price is the deciding factor, you will be able to clearly determine the winning bid in a matter of seconds. For more complex proposals, where best value is the deciding factor, you will be able to quickly determine what suppliers are best qualified to provide you with the goods and services you need.
Gain Insight into your sourcing data
Being a data-driven solution, our solution is packed with actionable analytics. Leveraging data analytics helps ensure that you are making the best sourcing decisions possible and provides confidence in the choices you make. The sourcing data is neatly compiled into easy-to-read reports that can quickly be exported and distributed to key stakeholders.
Track Key Procurement KPI's
Easily track important metrics like vendor engagement, suppliers by diversity classification, cost avoidance, active contracts, and so much more.
Demonstrate Procurement's Value
Traditional sourcing methods can make it difficult to demonstrate all the value provided by your procurement team. Clear and comprehensive reports allow you to easily demonstrate procurement's value while using real data to back it up.
Quickly identify solicitations that are behind schedule, have low participation, or are getting stuck in certain stages of the bid process. Contract bottlenecks are prevented with reminder emails and dashboard alerts of critical expiration dates.
Since day one we have understood the negative impact of charging vendors unnecessary fees to participate in solicitations. Doing so can significantly limits competition by introducing pointless barriers to supplier engagement. That is why we are proud of and committed to offering these services without charging vendors.
Trusted By procurement teams nationwide
Hundreds of procurement teams all across the nation trust IWT to automate their sourcing initiatives.
Strategic Sourcing Software
POWERFUL TOGETHER AND SEPARATELY
Packed with powerful esourcing tools, Ion Wave’s strategic sourcing software makes it easy for procurement teams to get the most out of their purchasing and spend management. Choose from our suite of products to build the perfect sourcing solution for your team.