How Is EdgeworthBox Different?

EdgeworthBox enables joint procurement across organizations. Company A and Company B can execute a joint RFP or RFQ, leading to a shared contract. This attracts a wider variety of supplier solutions and greater competition on price for the buyers and a larger opportunity for suppliers.

EdgeworthBox has easy-to-search structured data repositories. Users can search public RFPs, RFQs, and contracts for information about different categories, including prices paid. Additionally, users can store their own data in a private repository. They can see live RFPs they have outstanding, RFPs they have issued in the past, supplier responses, and contracts. All of it is easy to search. It is shareable across the enterprise. Dark data sees the light of day.

EdgeworthBox has a simple user interface and no implementation making it easy to use our secure, cloud-based application out of the box.

EdgeworthBox can be either a standalone solution or a complement to existing infrastructure. It is complementary.

Why Is EdgeworthBox Better than Email and Spreadsheets?

EdgeworthBox makes managing the complexity of a reverse auction much easier than email and spreadsheets.

By making it easier for suppliers to engage, including understanding what the buyer wants, EdgeworthBox promotes greater competition on price and solution, leading to better problem-solution fit.

EdgeworthBox promotes collaboration so buyers can get to faster internal consensus.

EdgeworthBox provides a container for the procurement process.

How Can EdgeworthBox Help Buyers Obtain Supply Chain Financing?

EdgeworthBox has partnered with SupplySci to offer source-to-fund execution.

Buyers can use EdgeworthBox to source goods and services.

When they’re ready to execute, buyers can finance the payable and process the prompt supplier payment with SupplySci.

This keeps critical vendors happy, even as it helps the buyer smooth cash flow.

How Can EdgeworthBox Help with Sourcing from Diverse Suppliers?

Many diverse suppliers are small businesses. They lack sophistication when it comes to selling. EdgeworthBox makes the enterprise procurement process accessible for them. It also helps buyers get comfortable with the risk of doing business with them.

EdgeworthBox can also be used to promote supply chain visibility in a way that encourages prime contractors to include diverse suppliers.

What are EdgeworthBox's Key Features?

EdgeworthBox has features taken from financial markets:

  • Standardized, simplified vendor onboarding and risk management
  • The ability to execute reverse auctions such as RFPs, RFQs, and RFIs
  • Public and private repositories of structured procurement data
  • A social network including profile pages for collaboration across the membership
  • Tools for evaluating supplier proposals collaboratively to accelerate internal consensus

The benefits are:

  • A wider set of potential suppliers and solutions for any buyer’s B2B purchase
  • Ready access to category intelligence, from the public sector, other companies, and the firm’s own history
  • Novel business development opportunities
  • Deeper opportunities for collaboration and innovation

How Does EdgeworthBox Help Buyers Evaluate Proposals?

EdgeworthBox has tools that enable multiple users, including from different organizations, to score individual supplier proposals on a question-by-question basis and to provide comments.

Based upon organization weights and individual evaluator weights specified by the project lead, this rolls up into an aggregate score for each submission.

Comparing the scores for each submission results in a cardinal ranking of proposals.

EdgeworthBox provides several different, downloadable reports for the project lead to manage this part of the process.

This feature accelerates the procurement cycle by making it easier to get to a consensus among internal stakeholders.

How Does EdgeworthBox Help Me Coordinate Internally?

EdgeworthBox permits an unlimited number of seats per organization for no cost.

This means that people from the C-Suite, finance, operations, marketing, engineering, product, or sales can log into EdgeworthBox and join the procurement conversation.

EdgeworthBox is the central place for this internal community when they are speaking about sourcing.

How Does EdgeworthBox Recruit Buyers and Suppliers?

We recruit buyers and suppliers with direct selling.  Our members recruit companies they deal with. We work with consulting firms and other channel partners to recruit, as well.

Often, when a buyer gives us a project to execute, we will recruit suppliers to submit proposals.

Can Suppliers Respond to the RFx on EdgeworthBox or Do They Have to Upload a Document?

We can accommodate both scenarios. Buyers can request bidders to upload a proposal. Or we can set up a form for the suppliers to complete.

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