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Curtis Fitch iSource™ Negotiation Module provides a powerful software toolkit to streamline all sourcing projects. This module enables the user to categorise activity and drive best practice throughout the organisation. It is a fully flexible system, which starts at any point in the sourcing process (RFI, RFQ, RFP) and thereafter moves seamlessly to the higher level advanced negotiations using fully integrated reverse or forward auction.
- RFx enables users to create their own RFI, RFQ or RFP, choose from a set of templates or copy an existing project. An RFx can be created and issued to selected suppliers in a matter of minutes. Full traceability ensures a total audit trail.
- Reverse Auctions provide an advanced negotiation to initiate and manage sourcing events quickly and easily. Users retain total control and complete flexibility with instant status reporting capability throughout their events.
- Forward Auctions provide organisations with a dynamic and flexible environment for sale of surplus assets or excess stock and is fully integrated within the Negotiation Module.
RFx
- Traditional RFx or tender process is a very time consuming and work intensive exercise, involving mountains of paperwork, volumes of uncoordinated data and, as a result, potential for misdirection and variable quality of outcome.
- Curtis Fitch iSource™, reduces the administration time by up to 80%. Fully functional RFQ’s and RFP’s can be created in minutes. Buyers can set up their own micro environment to:-
Create on-line questionnaires
Measure response scoring and weighting
Create flexible quotation formats for multi-item responses
Deliver instant status reporting
- Curtis Fitch iSource™, enables the buyer to set-up and manage RFQ and RFP templates to drive best practice and consistent behaviours throughout the organisation. Each RFx can be assigned specific commodity codes, which fulfil the prerequisites of centralised control for the sourcing projects and visibility of the accompanying spend programmes.
Dynamic Negotiations
Reverse Auctions
- Curtis Fitch iSource™ is the most flexible intuitive reverse auction software tool currently available, generating maximum returns from the competitive bidding arena.
- Reverse auctions deliver double digit savings by challenging price and process within an instinctive and rational environment.
- The traditional process only allowed for meaningful price negotiation with 2 or 3 suppliers
- Curtis Fitch iSource™ empowers negotiation with suppliers across a wider range of commodities and services and identifies:-
- Optimal match for supplier capabilities
- Most competitive market price
- Better insights to markets and emerging opportunities
Creating Competition
- Typically 6 to 12 suppliers will issue hundreds of bids and supporting comments over the period of an event and significant movement in price can be achieved.
- The event is a strategic and tactical negotiation. The communication skills of the buyer, supported by the software, are an integral part of each event.
- Providing feedback to suppliers helps them to evaluate their position and revisit their pricing.
- Curtis Fitch iSource™ allows multiple event rules to be set and changed in real time, giving the buyer enhanced control.
Buyer Empowerment
The buyer using Curtis Fitch iSource™ will have control of the negotiation process through Curtis Fitch iAuction:-
- Setting minimum bid decrements, bid entry levels or pre-event bids
- Showing suppliers their bid position
- Removing non competing suppliers
- Controlling event timescales
- Instant status reporting on all aspects.
Forward Auction
- Curtis Fitch iSource™ provides Forward Auction as an additional and fully integrated capability, which enables business units to establish a market value for selling debt, redundant stock or capital equipment.
- Increasingly, extra revenue streams can be gained from written off assets.
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