Structure your sourcing plan for ideal procurement collaboration.

• Populate your item master database and develop a list of approved suppliers to optimize cost control and encourage procurement collaboration with a highly qualified vendor list. External items can also be added at anytime when creating a sourcing plan.
• Make your requirements crystal clear by attaching specification files to items and include external documents alongside RFP / RFQ forms. Maintain detailed supplier communication by adding customizable questionnaires that they can respond to during the procurement negotiation process.
• cuSPENDS’s procurement software can be configured to provide more than just e-sourcing tools. You can use the budget planner tool to adhere to an efficient procurement management plan, and exercise appropriate spend control during negotiations.

Request

E-Sourcing tools that go above and beyond just RFP / RFQ software.

• Get the functionality of negotiation software and RFP / RFQ software through one streamlined platform. Initiate sourcing events of any kind by sending versatile RFP / RFQ forms to outline your requirements, and maintain efficient supplier communications by responding to live status updates every step of the way.
• Choose between hosting an open discussion room or initiating a sealed bidding process with contacts from your vendor list, or invite external contacts to join. Add additional vendors to the sourcing process at anytime, even during the middle of an active sourcing event.
• Supplier communications can be initiated and maintained without requiring those parties to sign up for an account. They don’t even need to know about cuSPEND, details from an RFP / RFQ process can be entered and stored on the system on behalf of certain suppliers, depending on what works best for them.

Evaluate

Full oversight and control over your procurement negotiation process.

• Make use of a comprehensive e-sourcing environment, including a negotiation dashboard and messaging system for efficient procurement collaboration. Compare offers side-by-side, together with your team, and resume supplier communications once cost forecasting is finalized.
• Review information from the budget planner tool to ensure purchases won’t exceed established cost management plans.
• Compare customized pre-qualification questionnaires (PQQ’s) and selection questionnaires (SQ’s) before continuing or concluding negotiations. Access documented procurement records from the item master database to review historical cost tracking information and other details about certain items.

Award

Flexible e-sourcing tools need a versatile way to award deals.

• Award one or more winning bids with e-sourcing tools that provide flexible options for closing deals. Create deals as standalone purchase orders, or document them as ongoing purchasing agreements in the contract repository.
• Even after closing negotiations with one or more suppliers in an RFP / RFQ process, cuSPEND’s flexible e-sourcing solution allows you to continue negotiations with other active vendors on your list. Take advantage of multiple deals that may not have originally been in your sourcing plan.
• Use an approval workflow system that can be applied to all transactions users make once sourcing concludes. Employees can also make use of an intuitive purchase requisition system to benefit from the cost savings secured in a sourcing event, without ordering the required items themselves.

Document

Automate procurement record keeping and create spend analysis reports.

• Audit reports that outline all activity in a sourcing event are created automatically at the conclusion of an e-sourcing event. Review expectations set out in your sourcing plan to ensure that an optimal negotiation process was followed.
• Improve multi-vendor management through supplier evaluation reports and vendor scorecards. Include evaluation forms with custom criteria and questions for employees to fill out, which are saved along with other documents for comprehensive procurement record keeping.
• Created purchase orders can be associated with departments or project cost management. Automated project procurement management allows you to pursue cost savings through sourcing events, without compromising the organization of your documented procurement process.
• Compile customized procurement reports by using spend analysis tools that include a wide range of options. Select timeframes, item categories, suppliers, and other criteria to enhance spend visibility and make improvements to your procurement management plan.

Optionally, supercharge savings with the Procurement Desk + fiSAVE™ Network.

• The fiSAVE™ Network helps members realize savings on scores of different products and supplies by aggregating member purchasing power. The Procurement Desk negotiates fiSAVE™ discounts from manufacturers and suppliers, which are then passed on to members.
• You may invite or be invited by other credit unions for collaborative opportunities. 
• Includes broad expertise in the difficult non-banking domains of facilities, supply, information technology, marketing, inventory management and distribution among others.
• Utilize group buying opportunities for products and services.