With organizations spending up to 70 percent of their revenue on direct and in-direct goods purchases, reducing procurement costs has become a business imperative for companies that want to improve their bottom-line performance.
Asset Buyer is a web-based solution designed for automating sourcing activities and improving purchasing decisions. Using Asset Buyer, you can determine the factors that are the most important to your procurement decisions and identify suppliers that deliver the greatest value - from the lowest price to the ability to match exact specification requirements.
Asset Buyer also streamlines the procurement process, making it easier to create and distribute tenders, select vendors and negotiate with suppliers as well as providing a range of other benefits.
With Asset Buyer, your organization can:
generate cost savings on sourcing activities
reduce purchasing cycle times
take advantage of multiple sourcing formats including RFx, reverse auction, and sealed bid
rank suppliers based on their ability to match buying criteria
improve relations with suppliers through on-line collaborations
How Asset Buyer works
Asset Buyer's user-friendly interface makes it easy for you to create tenders - or re-use existing templates - and assign values to assorted purchasing criteria, such as price, product availability, post-sales support, or compliance with certification standards.
Once your organization initiates a request for quotation or participation in a sourcing event, Asset Buyer automatically notifies qualified suppliers and provides them with the opportunity to respond.
After supplier responses are submitted, Asset Buyer automatically assigns values to supplier bids based on criteria that your organization pre-determined. Suppliers' bids are then ranked automatically depending how well their responses matched your criteria.
Your organization can then select the supplier that provides the greatest value - lowest price, fastest delivery schedule, best after-sales support or a combination of all the evaluation criteria.
Benefits of Asset Buyer
Asset Buyer delivers a series of business benefits that result in:
Streamlined procurement processes - By automating interactions with suppliers and ensuring that RFxs can be re-used for future use, Asset Buyer significantly accelerates purchasing cycles
Improved purchasing decisions - Asset Buyer provides advanced reporting capabilities that help you analyze all aspects of your sourcing activities and facilitate supplier selection
Reduced purchasing costs - Using Asset Buyer's reverse auction capabilities, you can realize considerable savings on their purchasing expenses
Increased value from suppliers - By allowing suppliers to compete on a variety of factors, you can select suppliers based on the over-all value they provide
Improved relations with suppliers - Since Asset Buyer allows suppliers to compete on factors beyond lowest price, suppliers are not threatened by the erosion of margins
When coupled with the full suite of Asset Manager offerings, your organization can now better manage the entire lifecycle of its assets - from acquisition to disposition - and gain better control of and greater value from its equipment.
