Seattle, WA (PRWEB)
Today ProcureWare announced the launch of a new supplier management portal for Cornell University, the private, Ivy-League University in New York. The portal, which is available from a link on the University’s website, provides online supplier registration, posting of solicitations, and allows online bid submission, eliminating paper and postal costs from the sourcing process.
Jay Porter, Cornell University Strategic Sourcing Manager, “eBid eXchange is simple, easy-to-use, and does a great job of automating the RFx process in a university environment.”
eBid eXchange replaces their existing e-sourcing software that provided basic functions like supplier registration and bid notifications, but lacked key functionality such as online bid submissions, which was essential to realizing the University’s goal of reducing the time to process bids and award vendors. By receiving pricing and answers to questions in forms tailored for each solicitation, bids can be automatically tabulated and responses can easily be compared side by side. “The new system eliminates manual data-entry steps and allows us to instantly compare bid responses,” said Mr. Porter.
Understanding that evaluating bids will always be a time-consuming process, the University uses an “invite-only” approach and is selective in the potential vendors that are invited to bid. “Some companies offered us a big database of prospective suppliers and promoted that we would see a big increase of responses by sending it out to their database. We did not see the benefit of getting lots of responses from unqualified suppliers. We love that eBid eXchange lets us build our own database of highly-qualified suppliers.”
While Cornell is a private university, the ability to audit sourcing activities is very important to the University. According to Cindy Jefferson, Director of Strategic Sourcing, “It is important that I have oversight into the sourcing process to ensure we are competing major procurements according to industry best-practices.” eBid eXchange logs all transactions, enforces all deadlines, and can seal bids to prevent premature disclosure of information. Reporting provides insights into pricing-trends, bid history, and supplier activity. Templates ensure consistency and increased standardization.
About Cornell University
Cornell is a privately endowed research university, a partner of the State University of New York, and member of the elite group of colleges known as The Ivy League. Founded in 1865, Cornell is among the country’s oldest Universities and it consistently ranks in the top 10 for academic reputation. It has approximately 21,500 students, 1,600 professors, and 43 Nobel laureates are associated with its faculty or alumni.
ProcureWare delivers procurement software-as-a-service that streamlines supplier management, sourcing, and contract management for large and small private and public sector organizations. Their eBid eXchange system is used daily by over 300 organizations to save time and money in the procurement process. Information on the company is available at www.procureware.com.