Identifying quality vendors for the ongoing procurement need at right price is Holy Grail for any procurement team. Many procurement professionals attest that RFPs act as backbone in direct material sourcing and effective supplier management. Strategic procurement initiatives such as target savings, supplier base rationalization can be achieved using effective RFPs. Despite all benefits, procurement team harbor mixed feelings for issuing RFPs in direct material sourcing. Issues of expensive RFPs, inflexible RFPs, extent of procurement coordination and ineffective vendor response rate to RFP are recurring problems every day. An effective RFP solution is needed to solve the procurement challenges and delivers immediate ROI.
Aavenir RFPflow
Aavenir’s flow suite is focused on building simplified Source-to-Pay solutions for procurement teams. RFPflow provides a collaborative RFP authoring platform using the digital workflow of ServiceNow. This plug and play application enables your enterprise sourcing and procurement teams to create RFPs on Day 1 plus achieve a standardized RFP management process in a single click.
There are various stages involved to standardize the RFP process, starting with: