April 23, 2003
Pantellos Releases New Version of RFx Management
Pantellos customers can look forward to enhanced communication and improved matching of buyers and bidders in version 2.0 of Pantellos RFx Management, which rolled out Friday, April 18, 2003.
Pantellos RFx Management is an easy-to-use tool that transforms the creating and administering of RFIs, RFQs and RFPs into a fast, efficient Internet-based process. It saves time and money by automating bidder invitation, distribution of bid packages, communication between buyers and bidders, and bid submission. The application also provides secure electronic document management and storage.
In response to customer feedback, Pantellos has continually refined and improved RFx Management. Version 2.0 offers a host of new features that improve supplier management and make the tool more functional than ever for both buyers and suppliers.
What’s New for Buyers?
- Expanded company profile information makes identifying diversity suppliers easier, enabling buyers to ensure the bidding process meets corporate diversity inclusion goals. Buyers can also take advantage of enhanced search capabilities to quickly find suppliers in a specific UNSPSC, NAICS or SIC category.
- Version 2.0 allows originators to ask private questions of bidders, opening up many new options for one-on-one negotiation and personal communication between individual buyers and bidders.
- Buyers can now access a read-only view of all events, enabling individuals to look at all of their company’s RFx events, and not just those they originated.
- An affinity group, open to all buying organizations that use Pantellos RFx Management, offers the opportunity to share product-related best practices with other users and to provide input for future enhancements to the application. Buyers can also provide input through the Internet-based survey, which measures user experiences with Pantellos RFx Management, gathers ideas for future development and collects performance data.
- Coming soon, both buyers and suppliers can access Web-based training on Pantellos RFx Management. The interactive computer-based course, currently in development, will give users the basic skills they need to get started and use the application efficiently. Training and support options already available include Web training sessions and online demos which can be viewed by clicking here.
What’s New for Suppliers?
- Suppliers can take advantage of extra information fields now available in the company profiles. In addition to including tax identification numbers, DUNS numbers and similar data, bidders can now indicate their diversity status, often a key differentiator.
- A category/commodity classification wizard, new in Version 2.0, allows bidders to select UNSPSC, NAICS and SIC codes and add them to their company profiles. This coding enables bidders to better differentiate themselves.
- Another new feature periodically alerts users to update their company profile information. This feature is especially valuable to suppliers, because current information increases the opportunities for matching bidder capabilities with buyer requirements.
- Suppliers bidding on an event can now access an activity view of current and past bidding activities. This feature is especially advantageous for bidders who enter the process after bidding has started. With the activity view, they still have access to the history of the entire event and can make more informed decisions.
- Finally, version 2.0 includes communication improvements aimed specifically at suppliers. Bidders receive automatic e-mail confirmation when they activate the bid package. And all bidders receive a reminder e-mail before the event end date to help them avoid missing the deadline for bid submission.
Pantellos originally developed its RFx Management solution to meet a pervasive need in the utility industry—streamlining the costly and time-consuming bid management process. Since its initial release, Pantellos RFx Management has been used by a number of major utility organizations, representing some of North America’s largest utilities. In addition, Pantellos has used the tool to streamline the communication process for numerous online auctions and sourcing initiatives. More than 500 different buyers and more than 2,700 bidders have participated in approximately 6,500 RFx events. Customers report a variety of improvements to their bidding processes, including reduced procurement cycle time, greater process efficiency and standardization of bid management.
To learn how this tool can improve the bid process for your organization, contact the Pantellos RFx Management Team.
