Still using Excel and Word?
The current e-sourcing/e-tendering methodology in most organisations typically makes use of Word, Excel and other documents which are either emailed, sent via hard-copy or uploaded to an e-tendering portal for vendors to download and respond to or enter prices online for individual line items.
This methodology might be adequate for general tendering purposes, but when it comes to custom built and complex CAPEX projects and equipment, this method leaves much to be desired.
Below is a table showing the benefits of using iSpec where important documents such as technical specifications and agreements are most often created as live online objects that allow for all the advanced functionality in iSpec.
Current approach using Word, Excel, PDF and other files.
- Familiar process and tools
- Little or no training required
- Long lead time (passing documents around for preparation and approval)
- Cumbersome to compare and evaluate (manual process & different response formats)
- Cumbersome vendor responses (downloading and viewing of multiple documents, response formats, etc)
- Cumbersome to track clarifications
- Data distributed over various locations and systems (emails, documents, minutes)
- No transparent audit trail
- Massive administrative effort
- Manual process tracking
Advanced approach using iSpec
- Standardised format for easy vendor response – (no downloading/printing necessary – online entry)
- Concurrent document editing from multiple geographic locations (for preparation, submission and approvals)
- Uploading of attachments (Word, Excel, PDF, etc. for backward compatibility or where required)
- Instant comparison reports (non-compliance, pricing, milestone schedules, delivery dates, technical submissions, custom reports)
- Automated evaluations (advanced team scoring and moderation during multiple phases)
- Online contract management (both internal & vendor)
- Automated notifications and reminders
- Integrated approval system (publication, bid opening, etc)
- Comprehensive and detailed audit trail
- Contextual clarifications, negotiations, revisions & variation order tracking result in excellent transparency and probity
- Integration with ERP system possible
- Reduced administrative cost & effort through automation
- Familiarisation in the use of online documents as opposed to attachments only
- Familiarisation with new tools