Web-Based Bid Management - TabSource

Many companies deal with hundreds and even thousands of suppliers on a regular basis. They use Requests for Proposal (RFP), Requests for Quote (RFQ) and Requests for Information (RFI) processes to obtain the best pricing and timely delivery of needed goods and services. They need an efficient,  easy to use process for managing their bids.

The Problem

Currently, buyers must prepare bid packages, enter the information into a procurement system, fax or mail the bid packages to selected suppliers and then wait for suppliers to submit their bids. Once the bids are submitted, buyers must enter the information into their system , analyze all bids received, select the desired bid, and issue the award. The typical life span for an RFQ/RFP is 14-27 days.

The Solution

AssetPoint has teamed with leading companies across several industries to address bidding process issues, streamline and standardize the bid management process and reduce buyer resource requirements by creating TabSource.

The TabSource Bid Management Portal is designed to:

  • Streamline the bid management process for buyers assimilating bid materials
  • Eliminate buyer time spent entering supplier bid information (3-5 days each)
  • Ensure uniformity of bid information relayed to all suppliers
  • Shift the burden of data entry and bid accuracy to suppliers
  • Email RFQ availability for bid, supplier questions and answers, late bid notices and award/loss notifications
  • Allow suppliers to upload their bids and attached documents
  • Allow suppliers to enter base cost and ancillary costs such as freight, surcharges, etc.
  • Provide one Login ID for suppliers who support multiple locations
  • Automate closure of RFQ bidding after a specified bid period and allow an RFQ to be re-bid
  • Automatically update TabWare Requisitions with awarded bid information
  • Eliminate unsolicited proposals

TabSource assures suppliers see only the RFQs they are authorized to bid along with their current status. RFQs are automatically removed after closure and award. Suppliers can bid on multiple RFQs at the same time.

Benefits to the TabWare Customer

  • Reduce buyer resource requirements for bid processing by 3 to 5 days each
  • Reduce overall RFQ and award cycle time
  • Standardize the bid process
  • Treat all suppliers equal in bid communications and allotted time for bid submittal
  • Reduce or eliminate fax and communication costs
  • Reduce or eliminate paper from the bid process
  • Track late bids and supplier history
  • One portal for RFQs across all plants

Benefits to Suppliers

  • Automatic notification of RFQs available for bid
  • Bid submittals over the Internet
  • Upload supporting bid documents
  • Increased accuracy of bid information in TabWare
  • Reduce overall RFQ and award cycle time
  • Reduce or eliminate fax and communication costs
  • Reduce or eliminate paper from the bid process
  • All suppliers treated fairly and uniformly
  • One portal and one login for bids across all plants

More questions about TabSource? Please email us at tabsource@assetpoint.com 

 

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TabSource Web-based Bid
Management

See how TabSource can help you streamline your bidding process and save time and money.