Audience
Suppliers seeking a solution to bid against each other and see their relative bid positioning
About Procurement Power
Squeezing the last reasonable margin out of your suppliers is tricky and is considered an art. It is a fact, when purchasing, suppliers are not always giving you the best price. It is always a cat and mouse game of how margins are dispersed between your pockets and the suppliers’. Best price, among other things, is a function of how much the supplier wants your business and/or is worried about losing it. But how does one illustrate that fact vividly & quickly? Procurement Power creates a very quick and easy environment where suppliers bid against each other and see their relative bid positioning very clearly, ultimately leveling the playing field. Many fortune 500 companies have realized the power of this type of purchasing and have been forcing most of their suppliers through one type of auctioning system or another for a number of years. It is a fact, any purchase has associated costs. These costs typically vary based on the item being purchased, amount of negotiations required.
Other Popular Alternatives & Related Software
Acquirell
Acquirell is a Corporate Procurement Platform that empowers SMBs to get the best terms from suppliers and have complete control over procurement.
Acquirell includes the following modules:
Requirements - assemble and approve requirements across departments and employees. Plan your purchases, along with informative dashboards
PO processing - quickly create POs and send them to suppliers in a single system
E-Sourcing - get the best prices from suppliers by conducting various forms of sourcing events: from the simplest ones, with RFQs sent to all suppliers, to auctions
Contract Lifecycle Management - automate working with contracts: from initiating to archiving
Supplier Relationship Management - control interaction with suppliers and manage the contractor database. Easily engage suppliers: invitations, easy registration, intuitive interface, single supplier workspace
Analytics – reports on key procurement data: from budget savings to the percentage of unplanned POs
Learn more
Team Procure
Team Procure is a cloud-based procurement suite that empowers businesses to manage their purchasing approvals, purchase orders, strategic sourcing, suppliers, and inventory.
Conduct RFQ and E-Auction negotiations to secure the best deals with your suppliers. Generate custom reports based on department, project, or category and make data-driven decisions for your procurement strategy.
Team Procure caters to both SMBs and Enterprise organizations with the ability to customize our system using powerful software modules. We offer solutions for:
• Purchase Requisitions
• Custom Approval Workflows
• Procurement Management
• Supplier Onboarding & Management
• RFQs and E-Auctions
• Warehouse Inventory Management
For large procurement operations, we offer an enterprise-grade solution with dedicated servers. It includes advanced sourcing features, a supplier portal, ERP integrations, and premium support.
Learn more
Unimarket
Our integrated catalog-driven marketplace lets you easily find and buy the things you need from your preferred suppliers at your negotiated prices. Easily find and buy the products and services you need, plus manage your purchase orders, approvals, and requisition process. Our most comprehensive solution manages your entire procurement process, from purchasing through to managing supplier invoices. Unimarket is a purpose-built eProcurement solution designed to make procurement easy. Easy to find and buy the things you’re looking for because the intuitive design makes it just like any other online shopping experience. Easy to collaborate with your suppliers and bring all of them, even the small ones, into your marketplace. Easy for your suppliers to manage their own data within the platform. Best of all, easy to get started.
Learn more
itbid
Collaborative platform that helps you simplify and digitize the management of suppliers and purchasing processes. With the supplier and quality management modules, you will manage to manage the documentation and quality control processes of your supplier network on a single platform. Optimize your negotiations, save and reduce hiring process times thanks to the negotiation and contract management modules. It manages to digitize the formalization of orders and processes with the different order management and billing modules. Our experts will accompany you in the process of digital transformation of the relationship with your suppliers and will advise you to achieve your purchasing and cost optimization objectives. Update processes and digitize customer-supplier relationships for a greater competitive advantage. Prioritize sustainable savings and obtain optimal results in the short, medium and long-term.
Learn more
Pricing
Free Trial:
Free Trial available.
Integrations
No integrations listed.
Company Information
Serex Procurement Solutions
Founded: 2013
Canada
www.serexprocurementsolutions.com
Videos and Screen Captures
Other Useful Business Software
Build Data Resilience - Take the Assessment Today
Is your recovery strategy as strong as you think? Take this quick self-assessment to check your recovery readiness and gain tailored insights. In only 2 minutes, you'll learn where you fall on the recovery readiness scale.
Product Details
Platforms Supported
Cloud
Training
Live Online
In Person
Support
Online
Phone Support
Procurement Power Frequently Asked Questions
Procurement Power Product Features
Procurement
Auction Management
Supported
Asset Management
Not Supported
Bid Management
Not Supported
Budget Management
Not Supported
Catalog Management
Not Supported
Contract Management
Not Supported
Inventory Management
Not Supported
Invoice Processing
Not Supported
PunchOut
Not Supported
Purchase Order Management
Not Supported
Receiving
Not Supported
Requisitions & Approvals
Not Supported
Sourcing Management
Not Supported
Spend Management
Not Supported
Supplier Management
Not Supported
