Bid Management Software
Purpose-Built for Project Procurement & Materials Management
Centralized management of Invitation to Bid processes, including Bid development, Bid review, Bid approval, Bid issuance, Offer receipt, Offer evaluation, and Bid award stages.
Unrivaled Bid customization, including access, permissions, business rules, approval workflows, milestones, vendor document requirements, bid packages, bid evaluations, and much more!
Side-by side and apples-to-apples Bid Comparison Grid outlining high-level information from multiple Bid responses, including pricing, lead times, IncoTerms, payment terms, and more!
Cloud-Based, Project-Driven Software for Proposals
Bid Management Within a Unified Procurement & Materials Management Software
Current SCM provides complete workflow support to efficiently progress Bids through development, review, approval, issuance, evaluation, and award stages. Easily convert Requisitions to Bids, create Bids from other Bids or Orders, or create Bids from scratch. Develop and issue vendor-specific Bid packages. Leverage our unique Bid Comparison Grid to ensure informed & optimal procurement decisions. And once a Bid has been awarded, easily convert the Offer into an Order.
Supporting a Variety of Invitation to Bid Processes
Whether issuing a request for quote, seeking specific supplier information, or simply gauging supplier interest in a specific project, there are several reasons procurement teams may reach out to potential suppliers. Depending on your e-tendering needs, Current SCM provides fully configurable support for a variety of bid invitation processes, including:
- RFP Management (Request for Proposal Management)
- RFQ Management (Request for Quote Management)
- RFT Management (Request for Tender Management)
- RFO Management (Request for Offer Managment)
- RFI Management (Request for Information Management)
- RFEI Management (Request for Expression of Interest Management)
- RFBQ Management (Request for Budgetary Quote Management)
Bids Not Required
Perhaps your organization does not require a Bid for every Order? Unlike traditional ERPs that rigidly enforce a linear process of Requisition -> Bid -> Order, Current SCM allows you to begin the process at either the Requisition, Bid or Order stage.
Bid Management Key Features
Quick-Start Bid Builder
Current SCM supports the efficient development of comprehensive Bid packages, including:
- Converting a Requisition into a Bid
- Grouping multiple Requisitions into a single Bid
- The full and partial cloning of previous Bids
- Creating new Bids from previous or in-progress Requisitions or Orders
- Building new Bids from design data or from scratch
Flexible Bid Numbering
- Within Current SCM, Bids can be numbered manually or automatically assigned a number based on your preferred numbering methodology.
Auto Assign allows Current SCM to handle the numbering assignment of future Bids, automatically assigning numbers for Bids based on your preferred methodology. Opt-in or opt-out of automatic numbering on a per Business basis (e.g., client, supplier)
Vendor Document Requirements Management
Current SCM streamlines the creation, communication, submission tracking, and expediting of vendor documents.
- Vendor Document Requirements: Define specific vendor document requirements, including the document type, authentication requirements, submission format, and dynamic due date (e.g., document required ten days before shipment). Define vendor document requirements at the Bid or Bid item level.
- Bid Document Export: Current SCM generates a complete Bid document export, including a description of included documents, paying organization branded Bid document, BOM (Bill of Materials), commercial terms, contractual terms, specifications and standard drawings, and vendor document requirements.
Vendor-Specific Bid Packages
- Current SCM supports issuing vendor-specific Bid packages, including commercial terms, contractual terms, specifications and standard drawings, inspection requirements, vendor document requirements, and more!
Bid Evaluation & Analysis
Current SCM ensures a clear path to the most competitive Offer:
- Customizable Bid evaluation templates
- Automatic Bid spreads
- Bid Comparison Grid with Offer normalization to ensure apple-to-apple comparison
- Compare Offers side-by-side (e.g., pricing, lead times, IncoTerms, payment terms)
- Compare Offers on a price per unit basis (e.g., if a transformer’s capacity is measured in kVA, the application can report the cost in terms of kVA)
- Compare Offers to historical Offers within a defined period (e.g., average Offer price)
- Compare Offers to historical Orders within a defined period (e.g., last price paid)
Streamline the Process of Awarding Bids
Current SCM offers streamlined support for awarding Bids, including:
- Flagging recommended Bid Awards on a per line basis
- Support for Split Awards to award a Bid to one or more bidders
- Easily convert Offers into Purchase Orders
Bid Management Highlights
- Cloud-Based Bid Management Software
- Integrated Materials Management
- Integrated Vendor Document Requirements (VDR)
- Role-Based Access Control (RBAC)
- Simultaneous Multi-User Bid Collaboration
- Bids Not Mandatory -> Bypass Bids or Start at Order
- RFP Software (Request for Proposal Software)
- RFQ Software (Request for Quote Software)
- RFT Software (Request for Tender Software)
- RFO Software (Request for Offer Software)
- RFI Software (Request for Information Software)
- RFEI Software (Request for Expression of Interest)
- RFBQ Software (Request for Budgetary Quote Software)
- Bid Development Management
- Option to Create Bids from Requisitions, Bids or Orders
- Flexible Bid Numbering
- Bid Line-Level Specifications and Standard Drawings
- Bid Line-Level Inspection Requirements
- Bid Line-Level File Attachments
- Bid Line-Level Tags / Component Identifiers
- Bid Line-Level ‘Required By’ Dates
- Bid Issuance Management
- Vendor-Specific Bid Packages
- Bid Evaluation & Analysis Management
- Multiple Offers Per Vendor
- Customizable Bid Evaluation Templates
- Multi-Vendor Normalized Bid Comparison Grid
- Bid Award Management
- Bid Split Awards
- Convert Offers to Orders
- Configurable Contract Templates
- Configurable Bid Approval Workflows
- Bid Group Approval Workflows
- Real-Time Bid Tracking
- Bid Line-Level Status Updates
- Bid Revision History & Audit Trail Logs
