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| Upside Rfx Benefits |
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UpsideRFX contributes to the bottom-line through improvements in spend management and supply management areas and does so very quickly through rapid deployment and high user adoption. By leveraging UpsideRFX as a tool for e-sourcing and e-supply management, organizations will achieve a fast ROI and will receive continued cost savings that will directly impact the bottom line. Other benefits include:
- Maximizes RFX visibility, monitoring, and reporting for all stakeholders.
- Improved information related to RFXs - better information and more of it.
- Streamlined processes for RFX creation and process management resulting in reduced operating expenses.
- Full integration with UpsideContract allows for an end-to-end process in handling sourcing requests, issuing bid documents, managing submissions and evaluations and then ultimately transferring award information into UpsideContract for the contract negotiation and finalization process, including ongoing management and tracking.
- Improved relationships between buyers, vendors, and other stakeholders.
- Improved involvement of internal staff in the procurement process.
- Strategic sourcing benefits - maximize buying power through better managed procurement and use of auctions.
- An accurate and comprehensive audit trail is maintained within the system that ensures appropriate financial governance controls are being followed.
- Business Intelligence through proper analysis of vendor submissions and procurement information.
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| UpsideRFX provides additional value when integrated with UpsideContract. |
- Identification of contract terms and conditions in the RFX.
- Seamless contract creation based on defined deliverables / requirements / etc. (in the RFX) and selected vendor information.
- Integrated negotiation of contract terms and conditions during the procurement process (e.g., as part of the final selection process).
UpsideRFX delivers extensive benefit out of the box, but when coupled with business process improvement that is aimed at maximizing the effectiveness and efficiency of the procurement function, organizations further improve their strategic benefits significantly.
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