Does your business involve handling and managing multiple vendors? Are you struggling to keep a track of all vendors, opportunities, orders, and project deliverables? And, is this affecting your business productivity? It’s time to make a change!
Businesses spend a huge amount of time contacting vendors to invite quotations, and then following up to learn about the progress. By using Salesforce for vendor management, you can handle and manage any opportunity and multiple vendors from a single location while handling your core business operations.
How does Salesforce as a Bidding System Work?
Vendor management in Salesforce is fast, easy and comprehensive. You simply need to create an opportunity in Salesforce using your administrative end to notify all vendors and invite quotations. Each opportunity should contain a line of items that you want to outsource from vendors in order to deliver your project successfully.
Vendors, upon checking the line of items will place their bids, which you can easily check and compare from your Salesforce org. Once you scrutinize all vendors and bids, you can award the tasks to all chosen vendors within Salesforce, and keep track of work progress. Generally, big projects require involvement of numerous vendors, which more likely lead to mismanagement of vendor details, their expertise, pricings and more.
By using Salesforce as a vendor management system, you can bring all vendors, bids, and project components to one place, and easily put yourself on top of everything.
Practical Example of a Use Case
Our Salesforce developers have set up Salesforce as a bidding system for one of our premier clients. Here are the details:
The client runs a branding firm, and has a large network of vendors for outsourcing tasks for any client project. It became difficult for him to manage vendors communicating through different sources, to track and compare quotes, to evaluate project progress, and to meet deadlines set by his clients. The entire process was time consuming and affecting the overall performance of his business.
On the Salesforce platform, we built a solution to enable our client to quickly create an opportunity with the BoM (Build of Material) document and line items. After the project/opportunity is created in Salesforce, he simply adds the vendors he wants to receive a quotation from.
Salesforce then automatically sends a unique email to each vendor asking them to bid on this specific opportunity. The email generally contains information about the opportunity and a quick link of the vendor portal that displays the opportunity details and allows them to submit their bids. Project owner (Client) will immediately get the notification whenever any bid is submitted, and can easily view all bids updated by different vendors, their status, bid value, and then decide which vendor to go with.
The bid of the chosen vendor will be highlighted on Salesforce, and he will receive an email detailing a summary of project requirement, and a button to accept. Once accepted, it will be automatically updated in Salesforce, and notify the vendor to proceed further with the project.
Our client got full control over projects, and could easily track all the bids/quotes submitted from different vendors from a single platform for better decision making.
Salesforce bidding system streamlines and simplifies vendor and project management. You can track and manage all your vendors, projects within Salesforce.