Sourcing provides a set of templates that allow buyers to communicate the desired description and quantity of goods - or services - to prospective suppliers. eLinx Sourcing notifies each supplier, accepts the return information from each supplier and formats this information in a visual display for the purchaser. Purchasers can evaluate the responses based on their priorities (delivery, price, quality) and commit within the eLinx Sourcing application.
Sourcing is an invaluable tool for streamlining the RFx cycle.
Traditionally, the sourcing process is handled by professional buyers in a very manual and labor-intensive manner. eLinx Sourcing automates the processes involved in determining suppliers, issuing requests, scoring results, negotiating, and awarding contracts.
eLinx Sourcing drastically improves the RFx process by:
Reducing the cost of procurement activities
With eLinx Sourcing, information is electronically distributed throughout the requisition, RFx (request for proposal, information, etc.), quote, negotiation, and selection process. This improved efficiency saves the buyer phone, fax, and mail charges, as well as the time associated with processing traditional paper documents.
Tracking supplier performance
The buyer can collect and report purchasing results over time to determine which suppliers are most qualified.
Promoting adherence to purchasing standards throughout an organization
eLinx Sourcing can be configured to work according to each organization's purchasing processes to ensure that every buying decision is handled consistently. And, purchasing standards help eliminate the problem of "maverick" purchasing, in which purchases are made from unapproved vendors, undermining volume-purchasing agreements.
Integrating with the procurement and accounting system
eLinx Sourcing can be integrated with eLinx Procurement for a total buy-side solution. And, both products can be integrated with many accounting systems so that purchase information flows directly into the back-office.