Give your purchasing team the tools they need to succeed.
Leverage all or part of our solution to streamline your sourcing. Using a Strategic Sourcing Solution allows you to conduct better solicitations, make data-driven systems, and do everything up to 60% faster than traditional sourcing methods.
Supplier Management
The Supplier Registration module provides an online “self-service” registration wizard for your suppliers and comprehensive supplier management tools. The registration feature allows interested suppliers the ability to enter company and user profile information, select commodity codes, business classifications, and apply for diversity classification.
- Self-Service Supplier Registration
- Supplier Validation Checking
- Supplier Communication Tools
- Supplier Analytics & Insights
Electronic Bidding
The integrated Electronic Bidding solution provides professional purchasing agents the ability to create and issue bid requests online. The application can be configured to issue formal and informal bid events, and includes advanced data gathering features supporting complex Request for Proposals and construction bids. Suppliers receive email notification of opportunities and simply login to submit their electronic bid response. The application generates printable versions of each bid request to accommodate suppliers without internet access. Purchasing professionals can evaluate bid responses individually and/or leverage the application’s multiple bid tabulation reports which are generated automatically.
- Bid Templates
- Response Error Checking
- Instant Tabulations
- Engagement Analytics & Insights
Bid Evaluation Scoring
The Bid Evaluation and Scoring module delivers a cloud-based solution for evaluating and scoring solicitations. Sourcing professionals establish the event’s scoring criteria including method, values, ranges, and weights. Evaluators are invited by email to review the selected bids or proposals and enter their subjective scores. Tracking and reporting features indicate evaluation progress and ultimately reveal the best ranked bid or proposal. Messaging features enhance evaluations efforts providing clarification, instruction, and reminders.
- Multi-Round Capabilities
- Criteria Weights
- Progress Tracking
- Instant Tabulations
Contract Management
The Contract Management module automates the procedural tasks and efforts related to contract agreements and supplier relations. This includes storage of contract details such as term, documents, contacts, bonding requirements, and insurance certificates. When integrated with IWT’s Sourcing application a contract’s bid association is automatically retained. Email notification reminders can be customized for each contract, allowing the responsible user to set their desired lead time.
- Customizable Reminders
- Insurance Tracking
- Attachments Management
- Available Renewal Options
Reverse Auctions
The Reverse Auction module provides a dynamic pricing environment where suppliers compete for business in real time. Easy-to-use event creation and management tools offer one of the industry’s only “do-it-yourself” auction platforms. During the event, a variety of current pricing and competitive information can be displayed to participating suppliers encouraging competition. Procurement professionals monitor supplier activity in real-time, watching as suppliers compete and update their pricing throughout the event. A dynamic graph is displayed, revealing the event’s bidding activity.
- Automatic Auction Extension Functions
- Dynamic Graphing
- Active Notifications
- View Customizations
Single Sign-On
IWT’s procurement suite has an available Single Sign-On (SSO) module that allows a customer’s end users to authenticate to our software using their agency identity provider (e.g. Microsoft Active Directory). This provides greater security and convenience for your end users.
- On-Premises ADFS Installation
- Azure Active Directory
- Easy Configuration