SMALL AND MEDIUM BUSINESSES NOW HAVE A RAPID, INEXPENSIVE AND RISK-FREE OPTION FOR TRANSFORMING PROCUREMENT DIGITALLY WITH EDGEWORTHBOX
New York, NY | September 9, 2021 – EdgeworthBox announces the launch of its cloud-based strategic sourcing platform focused on small and medium businesses (including the divisions of larger organizations). With EdgeworthBox, companies can transform their procurement process digitally with free access to tools, data, and community for both buyers and suppliers. Buyers can elect to pay to host and execute a Request for Proposal or a simpler Request for Quotation on a pay-as-you-go basis.
The pricing model distinguishes EdgeworthBox from incumbent systems requiring commitment to expensive subscription fees. Additionally, EdgeworthBox brings a unique combination of features to the procurement technology stack including central clearing of counterparty risk, public and private repositories of live and historic RFP data, and social networking in the form of profiles and messaging connecting all the users on the platform to one another. Buyers can use it to augment their incumbent approach, ranging anywhere from a combination of email and spreadsheets to the sourcing modules of cloud-based ERP systems. Suppliers can use it enable sales.
“Covid has disrupted supply chains globally for well over a year. Most procurement processes were built for a world that no longer exists. EdgeworthBox helps buyers and suppliers adapt to the new environment with tools proven to work in financial markets. There is no implementation of the cloud-based platform, so users can get to work immediately. Buyers get a solid set of features for free, paying only for RFPs and RFQs they execute on the platform. Suppliers access the tools, data, and community for no charge. Our prices are much lower than the equivalent large systems in the space making EdgeworthBox well suited for small and medium businesses, as well as groups within larger organizations.”
EdgeworthBox is a cloud-based software platform for shortening the sourcing cycle, lowering transactions costs, and lowering opportunity costs by helping to increase both the quality and the quantity of proposals buyers receive when they conduct reverse auctions as part of a buying process while also reducing the cost of sales and identifying new highly qualified leads for suppliers.