Transitioning to a new technology can be a difficult decision to make for your company, but when it comes to upgrading and streamlining your technology while improving your process and margins, then it’s time to consider your options.  eSourcing is used during the RFP process as a web-based software that outlines the process from start to finish.

RFP Process

With eSourcing software platforms – companies can clearly define the criteria for their suppliers; request the right information and proposals from qualified suppliers.  With the specifics already outlined it is much easier for suppliers to provide the answers and estimates to meet the needs of the company.  Once the proposals start coming back, a reverse auction event will allow suppliers to competitively bid for the contract.

With each section of the process automated, the entire process is streamlined.  Previously, the criteria were provided to the supplier, but were minimal compared to the information provided with eSourcing platforms. The level of communication and specifics provided were barely sufficient for suppliers to give a proper bid, which could result in a missed partnership opportunity.

So, Why the Hesitation?

Switching to an eSourcing software application may seem like a simple solution to a supplier problem, but why is there such a hesitation.  First and foremost, switching to an unknown technology often times require training, transition training, learning curves and time spent learning an entirely new process.  The old way of sending out requests and receiving them as either a paper document or an email file has worked for many different companies, so why fit it if it isn’t broken.

Fortunately, there are easy to follow templates that can be applied to each project.  In addition, training is minimal, as the software was developed to be similar to programs that employees are used to such as Word and Excel.

Additional Benefits

The benefits of using an eSourcing platform include:

–          Reduced paper trail and transactions

–          Faster access to data

–          Increased Accuracy

–          Reducing in sourcing cycle-times

–          Improved Measurement

Making the decision to transition to an eSourcing tool definitely isn’t a flash decision; it requires deep consideration and communication amongst the executive team.  However, there is no reason not to consider eSourcing.  Here are some additional insights and reasons as to why eSourcing is for you.