Speed up sourcing events and negotiate smart with Medius Sourcing

See how our eSourcing software can be your hero by speeding up your sourcing processes, providing the digital tools to help you evaluate the best suppliers, and drive big cost savings.

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Why Medius Sourcing?

Total visibility of your sourcing process

With a clear and easy-to-follow process, you can consolidate all your sourcing events in one place, resulting in greater visibility and measurable savings.

Speed up sourcing cycles

Medius Sourcing streamlines your day-to-day sourcing activities by ranking and evaluating suppliers based on responses to automated sourcing events.

Easy-to-use means rapid ROI

Rapid user onboarding and built-in best practice workflows enables high adoption rates immediately. Even those who aren’t experienced in procurement can run an event at day one.

Unmanaged spend, long and expensive processes deplete money and resources.

Common challenges you face

  • High volume of unmanaged spend
  • Lack of internal collaboration through the cracks
  • Long, expensive, and inconsistent manual processes

Risks of not having a solution in place

  • Paying too much for your sourced items or services
  • Wasted time and poor project management
  • Error-prone, excessive spend and duplication of efforts

Rewards of Medius Sourcing

  • 6-12% savings on every new dollar of spend placed under procurement control*
  • Electronic sourcing reduces cycle times by 30%*
  • Complete visibility of data and communications on all sourcing activities between you and your supplier

*Source: Raising the World-Class Bar in Procurement Through Digital Transformation, The Hackett Group 2018

Time to streamline your sourcing.

Demand capture

Instead of receiving multiple emails from colleagues or people stopping by to ask you to purchase something for them, Demand Capture is a structured, consistent queue to manage sourcing requests in one central location. Even people who don’t have access to the module can submit requests directly to you.

Sourcing Create Demand Capture screen
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Sourcing dashboard screen
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Project-based sourcing

The Medius platform enables your sourcing teams to run project-based sourcing with multiple rounds and different types of events whether it’s an RFX, auction or quick quote. In the case where single events are being run throughout the year in category waves, the Medius Sourcing solution can capture accurate task, event, timeline, and savings information to manage sourcing activity accurately.

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Quick quotes

You can create a quick quote for small, fast sourcing events and invite previously used suppliers or non-registered suppliers to quote for your event. This process still maintains procurement policies even with a quick turnaround and captures what was sourced, who it was sourced from, and how the award decision was made, i.e., three bids and a buy.

Sourcing Quick Quotes Responses screen
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Sourcing Questionnaire screen
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Robust RFX for any size

Build and run simple to complex sourcing events using documents and pre-populated templates that are fully configurable to your needs. With a sourcing solution, you achieve a competitive electronic process that drives better results and quicker RFXs allowing for more events and more savings.

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And, no integration with your ERP is needed

Medius Sourcing is a stand-alone application that doesn’t require an integration with your ERP. This way, our intuitive sourcing software gets you up and running in weeks, rather than months. It features:

Routing requests to any supplier, and creating and enforcing standard, repeatable processes

Sourcing dashboards that provide complete visibility of all sourcing activity

Rapid rollout and user adoption which leads to more events and more savings

Monthly enhancements made to the software to improve efficiencies

Supplier participation is simple with the Medius Supplier Portal

Our Supplier Portal delivers a highly intuitive means for suppliers to complete your questions, enter data online or via spreadsheet upload, and load any additional attachments as required. Invite your suppliers to self-serve via our intuitive portal where they can complete registration, submit interest to participate in your sourcing initiatives, and fulfill information that may be requested for a sourcing event, such as a Request for Information (RFI).

  • 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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Benefits of Sourcing Solutions

Time savings and efficiency-boosting

Sourcing can accelerate the time it takes to award a contract to a supplier by drastically reducing the time you spend on the sourcing event, freeing up time to focus on other essential tasks.

Improved spend compliance

Sourcing 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 sourcing solution shows precisely why a supplier was selected and how.

Reduction in costs

Medius Sourcing will streamline your day-to-day sourcing activities, including RFX, auctions, contract management, and all the way to spend analysis – helping you manage and understand all spend in your organization.

Visibility to all sourcing activity

Our solution allows you to create, distribute, collect and store RFX documents electronically. You’ll have access to complete data on all sourcing activities between you and your suppliers.

Sourcing Software FAQs

Sourcing software, also referred to as Electronic sourcing, or eSourcing, refers to the usage of web-based tools to collect and compare information about several suppliers in order to help the buyer select a preferred provider and offer. As such it helps procurement professionals save time by eliminating manual tasks and improve visibility of information gathered during the sourcing process.

While sourcing is only one part of the overall procurement process, it is key; it involves inviting potential suppliers to a sourcing event, collecting vendor information, running a sourcing event and eAuctions, analyzing/evaluating responses, and issuing contracts.

Sourcing software solutions eliminate the need to manually carry out labor-intensive and time-consuming tasks of running eAuctions and sourcing events and filling out supplier questionnaires. It allows you to build and run simple to complex sourcing events using online forms and pre-populated templates.

Sourcing software can even help you rank and score suppliers based on their responses to speed up the selection process.

eSourcing software facilitates procurement to automate processes in a single digital location, saving time and resources to run and manage sourcing events. It optimizes performance, increases process efficiency, and achieves cost savings. It also helps limit maverick spending. 

Companies have access to a more extensive selection of products and services to meet their specific needs with efficient sourcing software. Quickly locating products from their preferred suppliers helps control the quality, volume and costs of procured products and services.

Sourcing software has a powerful toolset with both online RFX and auction capabilities, with the ability to award suppliers right through to contract stage.

Buyers can also run comprehensive surveys to capture internal and external feedback. Users should be looking for these key functions:

  • Up and running in weeks, not months
  • No integration to your ERP
  • Creates and enforces standard, repeatable processes
  • Provides a way for any user to make and route requests easily
  • Sourcing dashboard to give complete visibility on all sourcing activities
  • Rapid roll-out and user adoption to result in running more sourcing events and generating more savings

"It’s helped with our cost control. We can clearly see now where money is being spent, so we can ensure that we aren’t wasting money on expensive suppliers and aren’t duplicating effort."

Jacco Daemen
Finance Transformation Manager, CEVA Logistics

Read the case study

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