Taking a Look at 2017 Savings
Today’s post is by Dave Wenig, Vice President of Sales and Services at SafeSourcing.
The numbers are in, and while this might seem somewhat-braggadocios, 2017 was an incredible year for clients of SafeSourcing. As our readers are probably aware, SafeSourcing offers a wide variety of solutions in the Procure-to-Pay space. This includes our SafeSpendAnalysis™, SafeDocument™, the SafeSourceIt™ suite (electronic RFI, RFP, RFQ), and more. Of all these solutions, it is the RFQ that has always been the most interesting to our clients when it comes to value and ROI.
The RFQ, sometimes called the reverse auction, is a long-time client favorite. In 2017, SafeSourcing’s clients were able to benefit from some very incredible savings through the use of RFQs. Across all of the categories we hosted on behalf of all of our clients in various industry verticals, the average RFQ savings in 2017 was 24.81%.
With this level of savings, it is not hard to imagine exactly why there has been, and continues to be, such interest in the RFQ. As we are now well into 2018, we are happy to report that this trend is continuing and our clients are on track to have yet another big year for RFQ savings.
As we pause to reflect and enjoy this success, perhaps you might reflect as well. There is no reason why you should not enjoy this level of savings. By taking a strategic approach to your own categories, and by leveraging established best practices and the proper tools, this opportunity can be realized.
After reflection, if you feel that your own savings might have room for improvement, we should make time for a conversation.
We look forward to your comments.