Why Medius Sourcing?

Complete visibility of your sourcing activities Icon
Complete visibility of your sourcing activities

With a clear and easy-to-follow process, consolidate all your tenders in one place, resulting in greater visibility and measurable savings

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Speed up sourcing processes

Flexible scoring and clear supplier bidding criteria ensure you've got a wealth of options to accelerate sourcing and drive down costs

Easy-to-use means rapid ROI Icon
Easy-to-use means rapid ROI

A user experience based on interfaces you know and love ensures that even those who aren’t experienced in procurement can run an event; alongside quick quotes

Medius Sourcing features

Initiate your sourcing events quickly and efficiently Image

Initiate your sourcing events quickly and efficiently

Our eSourcing solution drastically reduces the time it takes for you to run sourcing events with customizable documents and templates. Issue an RFP at the push of a button. This is followed by a robust approval process which will ensure you improve compliance.

Initiate your sourcing events quickly and efficiently Image
Help your suppliers respond to an RFP rapidly Image

Help your suppliers respond to an RFP rapidly

Eliminate manual data entry errors and boost the breadth of data you capture when inviting suppliers to tender . Vendors will be invited to issue their proposals on our online portal, giving you crucial details such as risk metrics, accreditations, and much more.

Easily identify and rank suppliers Image

Easily identify and rank suppliers

Once your suppliers have submitted tenders , you can rank, evaluate, and analyze their responses to create a shortlist based on data. Then, raise the stakes by holding real-time eAuctions (available in Dutch, Japanese, and English) to drive down costs.

Easily identify and rank suppliers Image
Detailed analysis tools to understand spend Image

Detailed analysis tools to understand spend

Constantly scrutinize your sourcing with detailed reporting. First, Medius Sourcing helps you evaluate responses to tendering. Then, after running your sourcing event, automated analysis helps you discover savings with the opportunity to drill down into greater detail.

Integrate Medius Sourcing with your back-office

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Rapidly bring together your back-office and third-party systems using Medius Connect. It can:

  • Implement any Medius solution, including Sourcing, and then set up connectivity with your ERP or back-office system
  • Manage a stable integration with our ERP, using pre-built connectors
  • Monitor connectivity between Medius solutions and other software in a graphical interface
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Join these organisations who depend on Medius to spend smart

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Join these organisations who depend on Medius to spend smart

Benefits of eSourcing

Timesaving and efficiency boosting

eSourcing can accelerate the time it takes to award a contract to a supplier by drastically reducing the time procurement specialists have  to spend on the tendering  process, freeing them up to focus on other important tasks.

Improves compliance

eSourcing can allow all procurement-related documents to be stored in just one place. By doing this, auditing is made simpler, and by extension so is compliance with any regulatory procedures. This is because our eSourcing solution shows exactly why a supplier was selected, and how.

Leveraging detailed supplier information

It can allow for not only better transparency in how contracts are awarded, but overall transparency between buyers and suppliers. Typically, a portal is used where suppliers can see all tender  opportunities, alongside any deadlines, statuses, and other key information.

Reduction in costs

These platforms allow buyers to access a much broader range of suppliers and additionally affords them the ability to leverage different eAuction strategies. This, alongside time saving and transparency, allows significant cost saving for procurement teams.

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Download our brochures to find out more

What is eSourcing?

Electronic sourcing, or eSourcing, is the use of web-based systems to collect and compare information about suppliers in order to help buyers make the best choice of provider. Strategic sourcing software can help organizations make savings in existing supply chains or identify the optimal setup for vendors. 

It can also help to increase the visibility of key business-related information and reduce the amount of time it takes for procurement staff to perform their daily tasks. Whilst sourcing is only part of the overall procurement process, it is a crucial step; it involves everything from inviting potential suppliers to tender, collecting vendor information, running tender processes and eAuctions, analyzing/evaluating responses, and issuing contracts.

What is eSourcing?

eSourcing, sometimes referred to as electronic sourcing, describes the use of web-based systems to collect and compare information about several suppliers in order to help the buyer select a preferred provider.

The technology offers several benefits; it is designed to assist organizations generate savings from their supply chains, increase visibility of key business information, and reduce the amount of time it takes for procurement professionals to do their day-to-day tasks.

How does eSourcing work?

Electronic sourcing is a small but important part of the overall eProcurement process. It includes inviting potential suppliers to an RFxtender, collecting supplier information, running Sourcing eventstender processes and/or holding eAuctions, analyzing and evaluating responses, and finally, awarding them with a contract.

We’ve detailed the entire process below:

Pre-purchase questionnaire –before doing business with any supplier, it is imperative to identify if they’re appropriate to do business with. Organizations achieve this with pre-purchase questionnaires (PQQ), which are detailed documents designed to assess the suitability of a supplier. PQQ’s are common in the public sector, but in other industries, the process can be called request for information (RFI).

In the past, procurement teams would have to manually fill out these documents by hand or in software such as Microsoft Word or Excel. With electronic sourcing, the process is streamlined, as suppliers can upload their answers into the eSourcing software, which is distributed directly to the business. It allows organizations to collect information from more suppliers in a fraction of the time and ensures consistency of completion

Invitation to tender – invitation to tender (ITT), also known as a call for tenders, is a process for generating competing offers from different suppliers. Once they have filled out a PQQ and have been selected to go to the next stage of the sourcing process, suppliers are sent an ITT.

The ITT document specifies all the requirements of the organization, including what goods or services are required, as well as outlining a range of information the buyer will require the supplier organization to submit about its own policies, practices, and processes, and how the evaluation process will be managed. Suppliers fill this document out to be taken to the next stage of the procurement process.

Request for quotation – in this process, price is the primary factor for choosing a supplier. Buyers send out forms for suppliers, asking all of them to provide prices for the services they can render.

Request for quotations (RFQs) can be used prior to an RFI and ITT if a buyer is seeking to understand price ranges in the market.

It is worth noting that all three of the steps above are interchangeable. Evaluation – once the requested evaluation formats have been sent and received, an evaluation process takes place, during which the prospective buyer evaluates whether the information a supplier has provided them renders them a viable candidate or not.

In the past, this process involved manually sorting through swathes of paperwork, supplied by the suppliers invited to tender. But electronic sourcing changes this – and also provides a sophisticated suite of analytics, dashboards, and tools like automated scoring – allowing users to automate elements of the evaluation process, therefore saving precious time.

eAuction – much like RFIs, PQQs, and RFQs, eAuctions can be run at any point in the eSourcing process. It can follow a tender, be used after a tender process, or run as a standalone event for finished goods.

Once suppliers have been selected, they are invited to participate in an eAuction – a process whereby suppliers bid on the right to deliver the contract for which they’ve been invited to tender.

Many eSourcing tools offer different eAuction types, each with unique benefits. Auctions are designed to encourage prospective suppliers to compete with one another and, as such, deliver the best possible deal for procurement professionals.

Contract award – once the tendering processes and/or eAuctions have concluded, and a buyer has been selected, a contract is awarded to the winning supplier. Elements of this process can be automated, automatically sending the winning bidder a contract.