Full E-RFX and E-Auction suite

Vendigital has developed a comprehensive eRFx platform that enables buyers to communicate with multiple suppliers in an efficient and controlled fashion.
Vendigital’s eRFx software can be used to:

• Run tenders from end-to-end (private or public sector)
• Run online negotiations
• Run a variety of online auctions (reverse, ranked, open, closed etc)
• Create questionnaires or surveys as part of tender or RFI processes
• Score responses
• Apply weighting to questions or sections which will determine a final total score
• Calculate weighting totals and provide reports on the “best value”, or most “suitable” respondent.

In having all suppliers respond to the same questions and requests in the same manner via the eRFx platform the buyer will be comparing suppliers in a fair way – apples vs. apples. Likewsie there is bulletin board functionality giving a mechanism for suppliers to ask questions and have them answered within a tender process, again this ensured all suppliers get the same information but that the unknowns and therefore risk-premiums are avoided.
The reality is that unless the contract is very large, the time required to handle all the communications is often not available and the number of suppliers is reduced to a point that makes the negotiation process manageable. The result is that true market price may not be achieved because the invited sample of the market is not representative of the whole market.
Vendigital's eRFx platform enables a buyer to deal with as many potential suppliers as is desired. The process supports simultaneous communications with each potential supplier all channeled by the buyer who has complete control and retains records of all communications.

The online auction is a well-proven mechanism for undertaking price negotiations with multiple potential suppliers. Proven to be more effective than traditional "across the table" techniques, a correctly run auction provides buyers and suppliers with the ability to determine market price for an item without having to physically be in the same location.
Online negotiations take a number of forms from the online reverse auction where a single parameter such as price is considered through to value auctions where multiple parameters such as payment terms, consignment stock, line-side delivery etc. can be negotiated simultaneously.
In an online reverse auction, invited suppliers place successively lower bids for a defined contract. The bidding event typically takes around 30 to 90 minutes. A successful outcome during this bidding period is naturally dependent upon the preparation preceding the event.
Vendigital's online auction platform has been instrumental in delivering consistently eye-catching results for our customers. This tool is used by our own teams when conducting full e-sourcing projects for our customers and is also available for buyers to incorporate into their own procurement toolkit so that they can run their own online bidding events.