Vendorful: Smarter sourcing for buyers and vendors

Recent Posts

What We've Got Here is Failure to Communicate

Posted by Peter Bonney on Jan 29, 2018 8:05:00 AM

 

I-will-effectively-communicate-with-others

One of the best things about working on an eSourcing platform is that I get to talk to people in an incredibly broad set of fields because procurement is a universal function across all enterprises in all verticals. Since I talk to such a broad range of people, it is always striking when I hear the same complaints over and over again: it suggests the existence of a big problem.

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Topics: Purchasing, SaaS, Sourcing, API

4 Biggest Challenges in Your RFP Process

Posted by David Wadler on Jan 22, 2018 11:07:00 AM

Procurement teams face a number of challenges as companies take an increasingly critical look at their processes in the hopes of producing more value. It might not surprise anyone that the value-driving RFP process is still regularly met with resistance from departments outside of procurement. Even procurement teams have been known to push back, describing the process as too time-consuming and antiquated. Sourcing professionals know that RFPs are critical components of a well-run procurement practice, but pressure — both external and internal —  can result in teams’ skirting or completely abandoning the process altogether. The risks are significant as the organization is far more likely to be dealing with the consequences of an ensemble of mismatched services and low-value purchases as a result. Here are the 4 of the biggest challenges facing your RFP process today.

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Topics: Purchasing, RFP

Essential Tips for Every Stage of Your RFP Process

Posted by David Wadler on Jan 16, 2018 10:07:00 AM

It’s easy to get lost in a sourcing event. In addition to making sure you nail each step of the RFP process itself, you’re also trying to wrangle data, vendors, and internal teams across a variety of communication and management platforms — none of which seem to speak to each other. There is an understandable temptation, and sometimes even pressure, to cut corners for expediency's sake, but you’re fully aware that cutting corners will lead to a less-than-ideal outcome. While for some organizations, the RFP has devolved into a box to be checked, top sourcing professionals understand the value of running a high-integrity, rigorous process. Below, we’ve put together a list of tips to keep your team on track, and maybe even show you some steps you didn’t know were missing.

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Topics: Purchasing, RFP

3 Teams That Benefit from RFP Management Software

Posted by David Wadler on Jan 9, 2018 8:57:00 AM

Procurement doesn’t work in a tidy bubble; everything the team does is both influenced and catalyzed by the needs of other departments. Any improvement to the procurement team has a positive impact across every department that spends money. And if you have any departments that aren’t spending money… well… give us a call, we’d love to learn how they do it.

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Topics: Purchasing, RFP

How to Tell if Your Supplier Relationship Management is Successful

Posted by David Wadler on Dec 1, 2017 4:32:00 PM

Supplier relationship management is tricky, and many organizations are unknowingly mismanaging their supplier relationships. From tunnel vision to a dangerous vendor “lock-in,” a mismanaged supplier relationship almost always impacts your bottom line… even if — and probably especially if — you can’t see the problem.

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Topics: Purchasing, RFP

Why You Should Be Blind Scoring Your Vendors’ RFP Responses

Posted by David Wadler on Nov 21, 2017 8:20:00 AM

Imagine…. You’ve just finished an incredible dinner at a Michelin-rated restaurant. It’s the capstone on an amazing day that included massages, spa treatments, and tickets to a show. "It’s crazy," you think to yourself; you’re not even doing business with this vendor yet, but it feels like there is some special connection there. Or perhaps that’s just the wine talking.

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Topics: Purchasing, RFP

9 Essential Purchasing Process KPIs and Why Tracking Them Matters

Posted by Peter Bonney on Nov 15, 2017 8:02:00 AM

Goal-setting in procurement is nothing new. After all, it’s not like your procurement team is just wandering into a 7/11 and picking up the first thing that catches their eye. Your company has a need, and it’s the procurement team’s goal to fill that need to the best of their ability. That ambiguous “best of their ability” however, is the catch that we hear skipped time and time again by company executives. Truth be told, many executives have only a high-level understanding of procurement, and what it really means to have that department excel. Here, I’ll get down to brass tacks; I will give you the metrics you need to track your procurement efforts and learn why understanding goal-setting is essential to your purchasing process.

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Topics: Purchasing, RFP

Is eSourcing Right For My Business?

Posted by Peter Bonney on Jun 22, 2017 11:05:00 AM

eSourcing consists of using software to manage and collect suppliers across a variety of projects. But what does that mean for you and your department?

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Topics: Purchasing, RFP, Sourcing

Amazon: A 217.6-Pound IaaS Gorilla

Posted by David Wadler on Dec 7, 2016 3:02:25 PM

IaaS Vendor Selection: A Personal History

In my last business, we had to go through three hosting providers before we found one that was a good fit. At the outset, our needs were modest but specific and we finally chanced upon a provider that made sense for us. We didn’t have a formalized purchasing process (or the free cycles to put together an RFP) and it was a struggle for us to reconcile the incredible importance of hosting for our SaaS offering with the financial and temporal constraints faced by most small businesses. While we ultimately found ourselves with a hosting company whose offerings and culture aligned well with our needs, we never wanted to be complacent with regard to our selection. Was there something out there that performed better, cost less, or was still better suited to our requirements?

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Topics: IaaS, Purchasing

A vendor wrote your RFP. You won't believe what happened next.

Posted by Peter Bonney on Oct 13, 2016 3:14:15 PM

Corporate purchasing is hard. People who don’t make purchasing decisions probably don’t realize what a challenge it is. How hard can it be to shop for things? We all shop for things, don’t we?

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Topics: Purchasing, RFP