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Our client is a renowned Field Services enterprise based in the UK. It provides technical and operational support to infrastructure development companies nationwide. With a wide network of subcontractors and vendors, the company oversees high volumes of procurement activities, mainly for field-based services and equipment.
The client wanted to upgrade and streamline its procurement processes while purchasing equipment and raw materials. Other objectives were to improve transparency in supplier selection, minimize operational costs, increase supplier engagement, and ensure quicker turnaround times on sourcing activities. The client also wanted to leverage digital tools for increasing scalability while maintaining compliance and quality.
The client was facing problems due to legacy procurement methods, particularly manual bidding and quote collection. This led to soaring costs, lack of supplier engagement, wasting of time, and inefficiencies in resource allocation.
It was the most critical challenge occured due to siloed procurement processes. Siloed processes also caused lack of transparency.
Limited visibility into market prices and slow responses of suppliers caused issues related to pricing fairness frequently.
As the client’s procurement process had no proper formats and standardisation, their team could not compare bids across suppliers.
The manual process made it challenging to negotiate or reduce prices. It affected the company’s ability to reduce costs during high-volume purchasing.
Our advanced reverse auction solution is useful for maximizing savings and reducing workload while attracting more bidders or suppliers. It can help modern enterprises save 18 to 40 percent on addressable spend. As a user-friendly and flexible solution, Procure Suite reverse auction software offers advanced controls for simplifying complex bid negotiations.
– Multiple suppliers compete that reduces prices significantly below initial quotes
– Higher transparency in pricing can eliminate hidden costs or inflated margins
– Greater negotiation power for buyers by leveraging market competition
– Reduced manual negotiation efforts leads to faster procurement at optimal rates
– Streamlines the bidding process from RFQ distribution to award decision
– Enables real-time monitoring and decision-making for reducing procurment cycles
– Supports automated bid evaluation based on predefined criteria like price and compliance
– Integrates with existing ERP system for seamless data flow and audit trails
Just after we deployed the reverse auction software Procure Suite, the client could reduce procurement cycle times by 40%. The company also reported average cost savings of 12–15% across high-volume service categories. Transparency in the bidding process empowered the client to make more informed, data-driven procurement decisions. Supplier participation increased significantly and client is happy with the performance of this solution.
Procure Suite is a comprehensive solution that includes cloud-powered E-Procurement solutions and strategic sourcing services. The Procure Suite Procurement Solution offers a user-friendly, robust, and advanced E-Sourcing toolkit to companies of any size.
Our Consulting services and flexible deployment options enable companies, irrespective of industry sectors, to improve spend management, automate procurement processes, and achieve excellence.
Our cloud-based, on-demand E-Procurement solutions provide companies with the highest level of data security and confidentiality as they are hosted in a robust and compliant data center.