Procurement SaaS Solutions Powering The Future
Give your purchasing team the tools they need to succeed
We strive to design procurement software as a service (SaaS) solutions that help simplify your purchasing process and increase cost savings. Packed with time saving and compliance features, IWT provides you with the tools you need to take full control of your sourcing activities.
A better, faster way to facilitate your sourcing initiatives
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 streamline the sourcing process without compromising on compliance.
The Vendor Management & Registration module provides an online “self-service” registration wizard for your suppliers and comprehensive supplier management tools. The registration feature allows interested suppliers the ability to enter company and user profile information, select commodity codes, business classifications, and apply for diversity classification. Advanced supplier tracking features give you better visibility and control in your process.
The integrated Electronic Bidding 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 notifications of opportunities and simply log in 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.
Bid Evaluation Scoring
The Bid Evaluation and Scoring module delivers a cloud-based solution for evaluating and scoring solicitations. Sourcing professionals establish the event’s scoring criteria including method, values, ranges, and weights. Evaluation team members are invited by email to review the selected bids or proposals and enter their subjective scores. Tracking and reporting features indicate evaluation progress and ultimately reveal the best ranked bid or proposal. Messaging features enhance evaluations efforts by providing clarification, instruction, and reminders.
The Contract Management module automates the procedural tasks and efforts related to contract agreements and supplier relations. This includes storage of contract details such as term, documents, contacts, bonding requirements, and insurance certificates. When integrated with IWT’s Sourcing application a contract’s bid association is automatically retained. Email notification reminders can be customized for each contract, allowing the responsible user to set their desired lead time.
The Reverse Auction module provides a dynamic pricing environment where suppliers compete for business in real time. Easy-to-use event creation and management tools offer one of the industry’s only “do-it-yourself” auction platforms. During the event, a variety of current pricing and competitive information can be displayed to participating suppliers encouraging competition. Procurement professionals monitor supplier activity in real-time, watching as suppliers compete and update their pricing throughout the event. A dynamic graph is displayed, revealing the event’s bidding activity.
IWT’s procurement suite has an available Single Sign-On (SSO) module that allows a customer’s end users to authenticate to our software using their agency identity provider (e.g. Microsoft Active Directory). This provides greater security and convenience for your end users.
Gain Insight into your sourcing data
Being a data-driven solution, our procurement saas 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. Our procurement solution neatly compiles the data 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 Procurements 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.