Archive for the ‘E-procurement Tools’ Category

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SafeSourcing’s entire Software Suite is a CLOUD based SaaS solution family.

Wednesday, March 26th, 2014

It’s a brave new world and changing every day. Solutions take less time to get to market due the open source alternatives to traditional development methodologies. The fact is you simply do not need the IT staff from the past to develop and support applications today. And that is why you can buy what you need  when you need it for less than any other company in the procure to pay space from SafeSourcing. If you want to run a single project or automate your entire procurement function, let’s talk.

SafeSourcing recently released our Procure to Pay Suite of applications under the SafeSourceIt™ banner as follows.

1. SafeSourceIt™ eRFX tools including Reverse Auctions
2. SafeSurvey™
3. SafeContract™
4. SafePO™
5. SafeCatalogue™
6. SafeSourceIt™ Global Supplier Database
7. SafeSourceIt™  Product and Services Specification Library

All of the above solutions are offered as a SaaS based cloud offering and can stand alone or function as a sophisticated integrated solution. Customers can buy and use what they need when they need it at the lowest costs in the industry

If you’d like to learn more about our tools or our customers please contact a SafeSourcing customer services representative.

We look forward to and appreciate your comments.

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Retail spend management basics for e-procurement professionals and knowledge workers.

Friday, March 7th, 2014

Todays post is by Ron Southard, CEO at SafeSourcing.

I meet with buyers, category managers and? other e-procurement knowledge workers on a regular basis that want to know what categories are the best to select in the short term to prove the benefit of e-procurement or e-negotiation tools. This quite honestly is not a bad approach for pilot selection as it creates an almost sure thing that results in a lot of excitement and the energy to move the process forward within a company.

Quite often before meeting with a new client, I will analyze their annual report and their summary P&L to get a good idea of where the opportunities are hiding that can have quick hit impact. However in order to have long term viability as a way to conduct the business of buying, a more detailed analysis is required. Quite frankly before you can even begin to discuss vendor or supplier selection, management or evaluation this process is critical to long term success.

Some of the key data required to prepare you for this analysis can consist of but is certainly not limited to the following. All of this data is readily available from a variety of industry sources. Quite often the data is a year old but you can bet it is better than anything else your customer may be using today.

1.?Research and accumulate your specific Industry data
2.?Analyze last years P&L, GL and other financial data sources
3.?Compare your cost of goods with your Industries averages
4.?Compare your gross margins with you Industry averages
5.?Compare your net earnings with your industry averages
6.?Conduct the same comparisons with selected retailers with whom you compete
7.?Compare your departmental sales and contribution margin results to those of your specific industry.
8.?Look for department level anomalies
9.?Look for specific product anomalies within major and sub departments.
10.?Select top categories that are below plan and outside industry average for cost of goods and margin.
11.?Select top products that are underperforming to industry averages and plan

An example of the above might be to look at the major department of grocery and the major category of pet care then drill down to the sub category of cat and dog products and a list of all accessories. Now look at what products are underperforming to the industry and plan.? Continue your analysis with other underperforming categories.

Ask your e-procurement provider how they can assist you in accomplishing this with their tools.

Please contact a SafeSourcing Customer Services Account Manager to learn more about our risk free trial and conducting a category discovery on your behalf.

We look forward to and appreciate your comments.

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Getting to your RFP Short list!

Tuesday, January 14th, 2014

Today’s post is by Mark Davis; Senior Vice President and COO at SafeSourcing. 

The RFI/RFP process has been the source of a few SafeSourcing blogs over the past few months and no piece is as important to the process as the plan you develop to move forward with the final stages of the RFx process, as you have companies that barely make the shortlist all of a sudden leap to the front of the pack if done right.

Today’s blog will take a look at some of the aspects that you should be thinking about when preparing for the final presentations.

Who makes the list?  – The main purpose to holding the final stage presentations is to get a final look at the vendor team that you may be getting ready to give your business too.  In almost every case, the RFx process will immediately drop a few vendors out of the mix based on their responses, their initial pricing or a combination of both.  Typically the final presentations will be given by 2 4, sometimes 5 vendors.  To have a larger list makes managing the list difficult, and generally is the stage where you have it narrowed down to companies who can truly handle your account.

What is the focus? – As you are developing the items in the next two points it will be important to develop the content for what you want to know more about.  In many cases RFIs and RFPs are unable to completely do justice for some of the details you need especially if those details revolve around a demonstration.  This is not to rehash the RFI/RFP itself but rather to dig deeper into answers that may have been confusing or not quite as complete as what you wanted.

What’s the Agenda? –  Once you know what you want to focus on and prior to holding your presentations it will be important to create the agenda you wish the vendors to follow.  Not doing so allows the vendors to present whatever they want and may leave you with more follow-up questions than you started with.  Vendors generally appreciate an agenda so that they can focus their energy on the things that are important to you.  This agenda will help be the foundation for the next two points so making it thorough without being so detailed there is no flexibility is the key to a good agenda.

How will you score it? – The final piece you will want to develop before the presentations will be a scorecard that can be distributed to the evaluation team covering every aspect that you want reviewed.  This is a critical step because not everyone will automatically evaluate the presentations in a similar way without guidance.  This can be as detailed as you want to make, however, it should at the very least follow the agenda the vendors have been given so that thoughts and comments on each point can be captured by every member of the team.

Getting ready for final RFI/RFP presentations is an important part of the evaluation process and one that should have as much thought and preparation put into it as the RFx itself.

For more information on helping your company prepare on RFI/RFP or in help preparing for final presentations, please contact a SafeSourcing Customer Service Representative.  

We look forward to your comments.

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The Pitfalls of the P-Card

Tuesday, November 12th, 2013

Today’s post is by Mark Davis; Sr. Vice President and COO at SafeSourcing. Mark asks

For the last 15 years or so the mainstream use of company procurement card programs has gained continued to gain momentum as companies look to improve the efficiency of their procurement process.  The attraction is understandable. 

P-cards can greatly reduce the amount of time it takes departments to get the frequent small spend items they need and can actually provide a clearer view of reporting on where the spend is being broken up and sent to, allowing procurement teams the capability to focus large aggregated spends into projects of their own.  Throw in intrinsic benefits such as improved relations with suppliers due to quick payment and allowing employees to feel more empowered in their purchasing decisions and it is easy to see why thousands of companies have employed such a program. 

In today’s blog we will be looking at the flip side to that coin and some of the things that should be considered and thus accounted for when implementing or revamping an existing p-card program in your company.

Abusing the system – The number one downside of p-card programs is when they are implemented without the full controls necessary to control fraud and abuse of the program.  Because of the nature of p-card programs and the fact that they are meant to streamline purchasing without having direct approval of each transaction the potential for fraud and the time it can take to comb through transactions to find it make this a serious concern.  With proper controls in place such as purchasing from selected vendors only, spend limits and category purchase types, many of these concerns can be eased.

“Just buy it” – There are times when fraud is not at play but something just as damaging for a company comes into play in a p-card program; the attitude of buying without thinking because “it isn’t my money.”  In legacy procurement programs that require more red tape, people evaluate decisions much closer before making purchases because of the effort involved in making it happen.  The easier the process for purchasing items becomes, the more apt people will be to buy first and evaluate whether they really needed a product or service later.  This mindset can be just as damaging to a company and harder to control because the need of the products are often legitimate, just not always as critical as the purchase of it would make it seem.  Controlling this from a higher aggregate total will show the individuals and departments that are purchasing outside of the norm.

The Devil is in the Details – There are so many different meanings for this saying but I believe the most applicable to p-cards is the time suck that develops when people get their hands on granular detail they never had before.  Immediately you have people pouring through millions of transactions to analyze areas where the above two situations are happening.   This can cause inefficiencies in a company where the p-card was hoping to streamline the process.  Applying proper spending controls and developing a data analysis strategy in advance can help with this process and in ensuring the efficiencies created are kept intact as the program grows.
There are many advantages to p-card programs and with the proper foresight and controls built around it, they can be very successful while minimizing the risk for your company. 

For more information on how SafeSourcing can assist with ideas or p-card vendor suggestions or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments. 

 

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How committed are you to your own success with your new e-procurement tools?

Monday, October 21st, 2013

Today’s post is by Ron Southard CEO at SafeSourcing Inc.

Many projects fail when companies implement them. Probably a much higher percentage than you might believe. Just take a look at the new Obama care website.

 It’s no different when implementing new procurement technologies. You can install it behind your firewall. You can use SaaS based tools. You can pick any toolset in the Procure to Pay process from eRFX tools to Contract Management. If you are going to be successful with the launch of your new e-procurement tools, you have to be committed to the process. This really is about nothing more than how prepared you are as a procurement knowledge worker regarding procurement in general and your category, product or service specifically. If you are committed, then you should be prepared. There really is no excuse to not be.

In order to be successful at e-procurement or the online or SaaS based e-RFX process, a procurement knowledge worker has to be committed to the process. First of all this means they have to understand the process. Beyond training in tool utilization, this suggests a willingness to share information relative their buying patterns as well as what their expectations are for selecting a new supplier to work with. All of this must be shared with their new solution provider.  Category managers, buyers and other knowledge workers that interface with the supply chain should be communicating regularly with their incumbent suppliers regarding current market conditions, quality, delivery and other potential pitfalls as part of their job.  If issues do exist they need to be discussed and documented so they can be reviewed with your new e-procurement solutions provider and included in the e-RFX setup and strategy. 

To be committed to the procurement process, procurement knowledge workers must be prepared to answer questions from suppliers even if the answers are to be issued through your solutions provider.  If you act as though you are not committed to this new process, your incumbent supplier as well as potential new sources of supply will pick up on that immediately. 

The bad news for your company is that if a buyer or category manager acts as though they do not support this new process, holds side bar conversations that mitigate its use or raises other red flags in the supplier community, you will not get the best pricing, you will not get the best quality and you will not have the best supplier relationships into the future.

If you tools are not working for you, contact a SafeSourcing customer services account manager for assistance.

We look forward to and appreciate your comments.

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SafeSourcing Inc. announces three new additions to the SafeSourceIt™ family of Cloud based Procure to Pay applications.

Tuesday, August 27th, 2013

Today’s post is from the SafeSourcing  marketing department!

SafeSourcing is  very pleased to announce  the following three new tools to its comprehensive suite of procure to pay tools under the SafeSourceIt™ umbrella.

  1.  SafeSpendAnalsyis™  –  Takes company purchasing patterns and trends to new levels as it integrates external data feeds  for a wide variety of data sources.

  2.  SafeReportDesigner™   –  Allows users the capability to drag and drop key data points in a way that allows them to build custom reports

  3.  SafeScorecards™ –  Consolidates details from all of the SafeSourceIt™ modules to track and score procurement performance by Supplier, Internal Department, Product Category or Procurement professional.

These tools join  SafeeRFX™, SafeSurvey™, SafeDashboard™, SafeDocuments™, SafeContract™, SafePO™, SafeCatalog™ and the  SafeSourceIt™ Supplier Database that are already in use by our customers today.

If you are interested in ROI’s much greater than 10X and rapid deployment of solutions that will preserve those savings, please contact a SafeSourcing customer services representative.

We look forward to and appreciate your comments.

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What does SafeSourcing do in order to bring value to your company’s sourcing projects?

Wednesday, July 10th, 2013

Today’s post is by Ryan Melowic; Assistant Vice President of COE at SafeSourcing.  

Currently, I am preparing for a presentation with a potential customer who runs multiple restaurants and a commissary.  I want them to thoroughly understand the value that SafeSourcing could bring them during the process.  Therefore I’m going to break it down for everyone below.

First and foremost SafeSourcing brings deep and broad based category knowledge.  Whether we engage with the potential customer on restaurant supplies, food they use to create their menu or negotiating the way they buy power.  SafeSourcing has knowledge in typically all categories because our team knows the industry.

Second, SafeSourcing knows who the key vendors are in the industry.  We work to constantly update our database which has over 430,000 vetted suppliers.  In the database we track safety certifications, key company details, product offering detail and contact detail based on region.   Our clients value SafeSourcing for the vendors we provide for their eProcurment events that they might not otherwise engage.

Third, our specifications are extremely detailed and believe are second to n0 one.  We work with our host companies to properly spec out the items that will be involved with an eProcurment event.  Since we are familiar with the key requirements needed to properly build the specification in a large variety of industries, we understand the questions that need to be answered by the host in order to create a complete but user friendly specification.   Additionally, we work to understand how the host currently procures their products so we can duplicate it electronically but in most cases improve upon it.

Finally, our process works!  We have many years of successful eProcurement experience in a wide variety of expense, capital, and services and for resale types of events to support our claims.  Just the fact that the typically return on investment in our services is greater than 18X speaks volumes as to our processes.

I can’t wait to meet with this new potential client as I can’t think of any reason why they wouldn’t give us a chance to show them what we can do. And we guarantee that they will be cost neutral in the process

For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments.

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What does SafeSourcing do in order to bring value to your company?s sourcing projects?

Wednesday, July 10th, 2013

Today?s post is by Ryan Melowic; Assistant Vice President of COE at SafeSourcing.??

Currently, I am preparing for a presentation with a potential customer who runs multiple restaurants and a commissary.? I want them to thoroughly understand the value that SafeSourcing could bring them during the process.? Therefore I?m going to break it down for everyone below.

First and foremost SafeSourcing brings deep and broad based category knowledge.? Whether we engage with the potential customer on restaurant supplies, food they use to create their menu or negotiating the way they buy power.? SafeSourcing has knowledge in typically all categories because our team knows the industry.

Second, SafeSourcing knows who the key vendors are in the industry.? We work to constantly update our database which has over 430,000 vetted suppliers.? In the database we track safety certifications, key company details, product offering detail and contact detail based on region.?? Our clients value SafeSourcing for the vendors we provide for their eProcurment events that they might not otherwise engage.

Third, our specifications are extremely detailed and believe are second to?n0 one.? We work with our host companies to properly spec out the items that will be involved with an eProcurment event.? Since we are familiar with the key requirements needed to properly build the specification in a large variety of industries, we understand the questions that need to be answered by the host in order to create a complete but user friendly specification.?? Additionally, we work to understand how the host currently procures their products so we can duplicate it electronically but in most cases improve upon it.

Finally, our process works!? We have many years of successful eProcurement experience in a wide variety of expense, capital, and services and for resale types of events to support our claims.? Just the fact that the typically return on investment in our services is greater than 18X speaks volumes as to our processes.

I?can?t wait to meet with this new potential client as I can?t think of any reason why they wouldn?t give us a chance to show them what we can do. And we guarantee that they will be cost neutral in the process

For more information on how we can help you with your procurement needs or on our ?Risk Free? trial program, please contact a SafeSourcing Customer Service Representative.? We have an entire customer services team waiting to assist you today.

We look forward to your comments.

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What is an RFI, RFP, or RFQ? Part II of VI

Thursday, June 20th, 2013

Today’s post is by Heather Powell, Customer Services at Manager for SafeSourcing Inc.

In yesterday’s post, we began to look at the RFx strategy by starting with Requests For Information and their purpose in the procurement world.  Over the next three days we will focus on Requests for Proposal and the details you need to run a successful one.

According to businessdictionary.com, “a Request for Proposal (RPF) is a document used in sealed or electronic bid procurement procedures through which a purchaser advises the potential suppliers of (1) statement and scope of work, (2) specifications, (3) schedules or timelines, (4) contract type, (5) data requirements, (6) terms and conditions, (7) description of goods and/or services to be procured, and (8) instructions for preparation of technical, management, and/or cost proposals.  Government RFPs are publicly advertised and suppliers respond with a detailed proposal, not with only a price quotation. They provide clearly quoted specifications for negotiations after sealed proposals are opened, and the award of contract may not necessarily go to the lowest bidder.”

Those are the basics that make up a RFP, but how do you know what is important in each step?  Today we will focus on the first two pieces and the other 6 in tomorrow’s blog.

Scope of Work:  Businessdictionary.com states, “the division of work to be performed under a contract or subcontract in the completion of a project, typically broken out into specific tasks with deadlines.” Simply this means what are your needs and expectations for the work needing to be completed.

Specifications: “An exact statement of the particular needs to be satisfied, or essential characteristics that a customer requires (in a good, material, method, process, service, system, or work) and which a vendor must deliver. Specifications are written usually in a manner that enables both parties (and/or an independent certifier) to measure the degree of conformance. They are, however, not the same as control limits (which allow fluctuations within a range), and conformance to them does not necessarily mean quality (which is a predictable degree of dependability and uniformity).”

Generally specifications will be broken into either performance or technical specifications that define the types of goods or services needed from the vendor community.  Developing strong specifications is to ensure you receive a proposal with exactly what you need. The vendors will know not to over bid or under bid.

As we continue the rest of this week in this series, remember that SafeSourcing can help you with your needs in creating, running, and reporting on a RFP for any item, project, or industry need. For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments.

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What differentiates SafeSourcing from other Solution Providers?

Friday, May 24th, 2013

Today?s post is by Ron Southard, CEO at Safesourcing.

I was speaking with a prospect today that has a great deal of experience in the procurement space, in particular the e-procurement space.? I was discussing the process that we use in order to source a category at a high level which follows six well defined steps.? Although we believe adhering to this process allows us to run high quality eRFX events, our prospect offered that these are pretty standard steps adhered to by most solutions providers in this space.? So what else makes you different was the follow up question. I could have bragged about our SafeSourceIt? Supplier Database or some of the unique features included in our SafeSourceIt? tool set. I might have event mentioned the? other members of the SafeSourcing? Procure to Pay product family like SafeSurvey?,? SafeDashboard?, SafeDocuments?,SafeContract?, SafePO? or SafeCatalog?. However that?s not the answer I gave. In fact I answered the question almost immediately. The answer was and is our People. Our people are simply the best.? Our team is made
up of project managers that come from a variety of industries, and they are supported by a Procurement Center of Expertise or CEO that have specific category expertise in Retail, Healthcare, Distribution, Logistics, Manufacturing, Energy, Agriculture and a variety of other areas necessary to insure that our strategies and execution are spot on.

At the end of the day, a lot of people can swim but not everyone is Michael Phelps. Lots of people can play basketball but not everyone is Michael Jordon. Millions of people play golf, but there is only one Tiger Woods. People make a difference. Or better yet people make the difference. I?ll put ours up against any solution provider. That?s why our customers and suppliers have had the following to say.

1.??No one else will do the things that you do to help us.?
2.??We would not be where we are with our Indirect Spend if it were not for SafeSourcing.?
3.??The entire experience was very well planned and the tool was easy to use.?
4.??SafeSourcing is a great business partner with terrific customer service and software.?

We?ll impress this customer as well.

If you?d like to learn more about us, please contact a Safesourcing customer services representative.

We look forward to and appreciate your comments

 

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