You’ve been put in charge of buying something for the business. 

Most RFPs and RFQs fail to get more than a couple of real proposals. That’s not the kind of competition on price and solution that leads to value-for-money.

Attract suppliers with RFPs and RFQs and a process that make them want to engage. It’s called elastic procurement(TM). The best part? There is no downside.

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Elastic Computing Inspired Us ...

Before public cloud computing services like AWS emerged, large companies had data centers built for peak load. They had big real estate footprints, lots of servers and software, and a large IT department because these data centers were difficult to use. Smaller companies might have a server closet. These were wildly underutilized and carried high fixed expenses. AWS introduced elastic computing. Scale your need for resources up and down dynamically, delivered with a simple user experience. Pay for what you use when you use it. Run everything in the cloud, or only run some things in the cloud. Turn high fixed expenses into low variable expenses. Focus on higher value-added functions.

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OUR PLATFORM

... To Create Elastic Procurement™

Our epiphany? We realized that Big Procurement technology systems were like the data center. They carried expensive fixed costs. They are difficult to use. They are bloated with features nobody puts to work. The data closet was the equivalent of using email and spreadsheets to manage spending . We decided to build a system based on the same philosophy as the public cloud: elasticity. Users get an unlimited number of seats to access a baseline set of sourcing tools, data, and community for free. This enables internal and external collaboration around structured data and easy-to-access market intelligence. When you’re ready to execute a procurement event, pay for executing the RFP. Then go back to the free features. Suppliers see a faster, easier sales cycle with highly qualified leads delivered to them in fair reverse auctions like RFPs and RFQs. Interestingly, people are using it for all kinds of things including innovation challenges to source innovation and operational due diligence in financial services.

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WHAT WE BUILT

Simple digital procurement experience. No implementation or training. Shorter cycles. Lower transactions costs. Increased competition on price and solution for lower opportunity costs. Unlimited seats for free with access to baseline tools, data, community, and market intelligence. Pay only when you execute a procurement event.

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What we think

Workspace
Procurement, RFP, Sourcing, Collaboration

What Is Hybrid Procurement?

What is hybrid procurement? It is an extension of elastic procurement™. We’ve written about elastic…
Currency
Procurement, RFP, Sourcing, Collaboration

Who Should Pay for Procurement Events?

When it comes to the technology and the labor necessary to purchase something (either from…
Forest
Procurement, RFP, Sourcing, Collaboration

Why Do We Have a Procurement Department?

It’s an interesting question that we don’t ask often enough: why do organizations have a…

Sourcing made simple.

Improve the current approach to purchasing with tools, data, and community.

Replace email and spreadsheets or augment your existing source-to-pay architecture.

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