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What are the benefits of web based RFP Tools?

Posted in What is sourcing software? last updated on Oct. 14, 2011

Web based RFP Tools (eRFX software) can significantly reduce the administrative headache of running an RFP or tender. The RFP is issued as a rich, web based questionnaire, together with supporting documentation and message forum. The evaluation team can work together efficiently throughout the process, using tools for managing requirements, vendor enquiries, and then analyzing the responses. Automated scoring and analysis tools make managing the comparison and arriving at a final decision more informed and less error prone.

  • Central Storage - All data relating to a project is stored centrally and is backed up.
  • Objective Comparison - RFP responses to specific questions can be compared (and scored) side by side.
  • Re-use - RFP Questions, Sections and entire questionnaires can be re-used between projects
  • Automatic Scoring - RFP Questions can be autoscored without the risk of the respondent breaking spreadsheet formatting.
  • Collaboration - RFP Evaluators can work together on both drafting the questionnaire and scoring responses.
  • Calculations - Weighting and RFP total score calculations are automatic and robust
  • Analytics - RFP analysis charts and analysis are automatically generated on line.
  • Audit - All activity in the RFP is tracked for a full audit trail.

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