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Procurement Services Outsourcing

SourceRFX Global Sourcing & Procurement Platform

While your staff focuses on core activities, some of the non-core activities could be handled by our trained procurement resources working with your leads remotely. This helps to reduce procurement costs while improving efficiencies in handling your day to day transactional purchase activities

SourceRFX Global Sourcing & Procurement Platform

Procurement Assistance Services

Depending on your requirement we will put together a team of knowledgable and experienced procurement staff with the oversight by veteran catagory managers working with your team based on set guidelines, as per agreed service levels, in your timezone. Team tracks and provides weekly reports to help you measure effectiveness of the engagement

Procurement tasks that could be outsourced 

>> Review orders for accuracy & completeness
>> Validate against purchase policies
>> Consider supplier alternatives on orders
>> Ensure accurate pricing per guidelines & contracts
>> Validate commodity and account codes
>> Invoice matching and exception reporting
>> Respond to user queries related to system/process support, order status, exception requests etc
>> Assist with vendor registration
>> Catalog management
>> Create custom reports

Let us know how we could assist your sourcing & procurement teams

SourceRFX Global Sourcing & Procurement Platform

Invoice Processing Services

We offer flexible invoice processing assistance for timely and accurate invoice management for you taking care of the time consuming and error prone tasks like invoice entry, validation, reconciliations

How it works...

Scan and upload your invoices into our system or forward all email invoices received. Our invoice processors will perform required steps to prepare them for client approvals and export the data back to you, in case you are not our Source2Pay platform.

For clients using SourceRFX platform, we could setup a self-service capability to enable suppliers submit invoices electronically against Purchase Orders issued to them by you. Suppliers would be able initiate this process by simply clicking a link in the email sent with the PO from SourceRFX platform and it is easy to use and track

Procurement outsourcing
opportunities and risks

According to a study by Capgemini, procurement organizations employ 45% of resources to manage indirect spend, which contributes to only 5 to 20% of the total spend. This shows a significant opportunity for orgnizations to outsource most noncritical indirect spend related processes and tasks, which would lead to drastically reducing procurement operational expenses.
Managing procurement inhouse for certain commodies adds no-value and can easily be outsourced to save costs without compromising on the quality and performance that business stakeholders expect.
Being aware of the potential risks and concerns of procurement process outsourcing, our team of category experts and procurement specialists having experience working for reputed domestic & global companies combined with our systems and processes will ensure complete confidentiality of your data. Our resources come trained using popular eSourcing, eProcurement platforms and can be put in action with little training specific to your environment and process.

Let us know, if you are interested and would like to put together a compelling business case to pursue within your organization. We can engage the right consultant to assess your specific scenario and propose the case with a clear implementation plan and work with your stakeholders in addressing concerns like perceived loss of control, knowledge and personality conflicts

Project Procurement:
Quotation Management Best Practices

Engineering projects are usually complex and involve high stakes with lot of risks to manage. EPC companies that execute engineering, infrastracture or turnkey projects need to submit proposals against RFPs or tenders called by either public enterprises or private companies. These projects involve complex multi-level bill of materials (BOM), equipment and services most of which need to be sourced from outside the company from multiple vendors.

Based on the type of the project and the location of the project the material and service requirements, quantities and prices would change. Material required might involve both standard items and non-standard items (custom designed and fabricated based on engineering drawings).

Pre-bid Estimates / Quotations:
In order for the company to submit a proposal quoting the total price and the price breakups, it is essential for them to have estimates for most of the items. Unless it is a routine project which they deal with month after month, project engineering, purchase and business development teams need to work together to come up with project estimates that must fall with-in certain percent of variation.

To accomplish this, they would have to rely on their internal price history database or public sources (procurement market intelligence) for standard items, commodities. Plus in most cases, they would need to reachout to multiple suppliers to get quotation estimates, especially for made-to-order items. It is crucial to get quotation estimates and final quotations for all items from multiple vendors on time. This is not an easy task, which involves identifying and qualifying suppliers, floating RFQ/RFPs, clarifications with aggressive followups to ensure quotations/proposals are received in time to compile and prepare for the tender submission.

Post-bid Quotations:
Once your company wins the project, might need to get final quotations with actual price from the vendors in place of the initial estimates locking down any price changes since the initial estimates.

How to Empower Project Procurement:
SourceRFX makes the whole process a breeze and enables your team short of resources to efficiently manage. Not being able to manage this could make a difference of winning or losing a major project for your company. With SourceRFX it is possible to send invitations to approved vendors and new vendors, make them acknowledge the receipt, track the progress of the quotation submissions and also send reminders with a click of a button.

The ability to receive quotations online instead of hundreds of emails in different file types and formats will be a game changer with instant comparative statements. Allows to quickly collaborate with suppliers on clarifications related to requirement, specifications, prices, terms and conditions through inbuilt collaboration capability tracking all changes and conversations for future reference. Shortlisting suppliers based on quotations, awarding or rejecting automatically notifies relevant contacts maintaining professional communication.

Dynamic RFQ Templates:
Quotations can be emailed or printed based on dynamic RFQ templates with company branding, while maintaining consistency and completeness automatically. Since all RFQs/RFPs floated along with all quotations/proposals received are maintained centrally, it would be easy for future reference and to clone an existing one for a future project.

Project Procurement Services:
Customers needing sourcing assistance could also benefit from the expertise of our network of procurement managers, category managers and project engineers. As a procurement service provider, SourceRFX assist in supplier identification, verification, quotation and order execution related followups, contract negotiation through invoice processing. Providing you with ondemand capacity to handle peak time requirements without having you to increase/decrease employee head count based on projects.

US Address

2352 Haggerty Dr
Dublin, CA
USA, 94568
(+1) 510-648-6623 

India Address

Plot# 203, Kavuri Hills
Madhapur, Hyderabad
India, 500081
(+91) 96181 36969