Engage your vendors
e-Sourcing
Still relying on spreadsheets, documents, and email to plan and manage sourcing activities? Vendorful's e-sourcing software streamlines and automates manual processes like managing sourcing pipelines, tracking savings, and running RFPs — so procurement teams can focus on strategic value instead of paper-pushing.
What you can do
Plan and track sourcing activities, run RFX, and leverage reverse auctions.
RFX events
Run RFP/RFI/RFQ events and award the winning suppliers.
Reverse auctions
Conduct reverse auctions to unlock the best prices.
Pipeline tracking
Plan and track sourcing activities and savings.
Customer storyHow Klein Tools transformed their RFX process
Klein Tools' primary motivation was to improve their RFX process. For years it ran on Excel spreadsheets and email — sharing RFQs internally and with suppliers, with management requiring constant manual reporting just to stay visible into the process. Klein needed better cross-functional visibility, and a system robust enough to survive personnel transitions without losing institutional knowledge.
- RFQ analysis and review went from a laborious Excel process to the click of a button.
- Full transparency on sourcing decisions across the organization.
- Streamlined personnel transitions and scaling.
01 · RFX
Run eRFX in record time
Most organizations feel stuck when it comes to sourcing events. They resign themselves to email and attachments, or fight with cumbersome enterprise procurement suites that don't actually save time. Vendorful's modern approach to e-sourcing software emphasizes ease of use and collaboration for both buyers and suppliers.
Collaborate with key stakeholders
Leverage the expertise of colleagues in lines of business to establish requirements, draft questionnaires, and evaluate supplier bids. Chat, video conference, and work together in real time.
Speed up your process
Custom configurations give buyers a running start when creating sourcing events: automatically attach key documents, establish terms and conditions, and more.
Seamless side-by-side analysis
Vendorful delivers apples-to-apples comparisons automatically, no copying and pasting required. “Blind” evaluation can be used to remove unconscious bias.
02 · Reverse auctions
Fast, market-driven negotiations
Buyers who leverage reverse auctions typically see savings of 5%–20% per instance. Usually lasting under an hour, Vendorful's reverse auction software lets suppliers compete on price in real time to earn your business.
Custom configurations
Configure auction style, bid ceiling and minimum decrements, lots and line items — buying teams customize events exactly the way they see fit.
Real-time network monitoring
Network performance is monitored live for all participants to ensure fairness. Vendorful identifies and corrects for network latency, clock skew, and more.
As-they-bid visualization
See bids within milliseconds of when they arrive, with an updating chart and leaderboard showing savings, supplier rank, and bid delta.
03 · Pipeline & savings
Plan sourcing events and track savings
From supplier onboarding to quarterly business reviews to corrective action plans and more, organizations have their own ways of doing things. Vendorful lets you codify these workflows in a point-and-click interface that marries data and process — a win for both ease-of-use and compliance.
Custom sourcing pipeline fields
No professional services required — configure your sourcing pipeline the way you want it. Decide what to track with a few clicks of the mouse.
Set goals and measure attainment
Quotas aren't unique to sales teams. Document your savings-tracking goals and see how you measure up — all in one interface.
Multi-perspective analysis
Slice and dice the data however you see fit across an array of fields your team configures — and use it to make informed decisions.
Feature set
Vendorful e-Sourcing key features at a glance.
Closed and open events
Restrict RFX to invitees or open them up to the public.
Supplier communication
Field and answer specific supplier questions about RFX.
Event-based permissions
Determine who gets to do what on a per-event basis.
Internal messaging
Real-time chat, video conferencing, and collaborative editing.
Searchable repository
Easily search for and access every RFX and/or reverse auction you've ever run.
Simplicity for suppliers
Built-in collaboration tools for suppliers who want to pull colleagues into bids and auctions.
Tight SRM integration
Search and filter invitees as sourcing capabilities interface seamlessly with SRM.
Plays nicely with Excel
When running RFX, upload and edit Excel pricing tables right inside Vendorful.
Instant analysis
Quickly see visual breakdowns of RFX and reverse auction results.
Want to see Vendorful e-Sourcing software in action?
How many sourcing events do you not run because it's impossible to justify the time and expense? Vendorful's e-sourcing capabilities eliminate time-consuming manual processes and maximize supplier engagement, helping procurement teams identify and engage the best suppliers for their needs.