web3 esourcing Product Paper

web3 esourcing Product Paper

web3 esourcing Functionality Wax Digital web3 esourcing is a powerful toolset for the professional purchaser looking to drive best value and optimise strategic sourcing outcomes. Suitable for organisations large and small, web3 esourcing is an intuitive, rapidly deployable package. The key benefits web3 esourcing delivers, at a glance are: A highly intuitive user interface Rapid deployment Unlimited scaleability Full internationalisation with: 12 standard languages Multiple time zones support Multiple currencies Real-time reporting and analytics High security, high availability SaaS platform Delivering complete control of the sourcing lifecycle, web3 esourcing comprises a number of functional modules that work together to form an end to end esourcing solution. The diagram below covers the main steps in the process: erfx CREATED AND SUPPLIERS INFORMED PROJECT MANAGEMENT RESPONSES ARE COLLATED AND SCORED Unique among providers in this space we upgrade all esourcing clients every 3 months with new features and enhancements, completely free of charge. The features incorporated in the next release are decided by working with clients, both large and small to agree a product roadmap. CONTRACT MANAGEMENT SUPPLIER RELATIONSHIP MANAGEMENT SUPPLIER REGISTRATION AND VETTING CONTRACT AWARDED eauction HELD WITH ACCEPTED SUPPLIERS Wax Digital web3 esourcing is fully branded with your corporate livery. If your organisation has multiple brands or businesses within it, web3 esourcing can accommodate multiple branding based on department, branch and business as required. ACCEPT / REJECT SUPPLIERS

etenders The first stage in many esourcing projects is the creation of tender documents. With web3 esourcing it s simple to create and store multiple tender types, including Invitation to Tender (ITT), Request for Information (RFI), Request for Proposal (RFP), and Request for Quotation (RFQ), either individually or as a series of linked stages with data passed automatically from one to the next. Build The logical structure of web3 esourcing takes the guesswork and complexity out of creating lengthy erfx documents. Users can take advantage of templates and wizards to guide them through the creation of their erfx. If you are using a multi-tender process i.e. (PQQ to erfi to erfq) the information from your first stage erfx can be flipped simply and easily straight into an erfq, which vastly reduces tender creation time. Creating questions for potential suppliers is the most time-consuming element of any tender. With web3 esourcing you can choose from a number of pre-populated tender templates which you can customise to your organisation. If you prefer to work offline, web3 supports the ability to import and export your questionnaire to Microsoft Excel at any stage with one easy click of a button. Before any tender is complete key documentation is usually attached including a product/services specification or standard documentation such as T&Cs. Wax Digital web3 esourcing provides robust permission controls allow you to choose who can access the documents, for example allowing you to share Terms & Conditions with suppliers but keep your scoring mechanism for viewing within pre-selected members of your team only. Publish To publish an event buyers can send emails to selected suppliers from the platform. The process is quick and easy and all messages form part of the audit trail of a project so relevant documents and communications can be accessed together in one place. Email communication is simple and straightforward through web3 esourcing. There are a number of templates available for you to customise and attach relevant documents to. You can also set up automatic reminder emails, to encourage greater participation from your suppliers. Depending on a user s permissions, approval can be set up, so that an RFx is reviewed by a senior member of the team before being sent live to suppliers, giving you peace of mind. Supplier responses are entered online in the accessible and simple to use web3 esourcing Supplier Portal. Suppliers can complete questionnaires online, or offline via a downloadable file. Public Sector Functionality web3 esourcing has a number of additional features to make public sector esourcing simple and allowing buyers to be OJEU compliant. A full and transparent audit trail is included as standard. Award The fair awarding of any contract depends on a robust scoring mechanism. To support fair scoring, you can score in a number of different ways in web3 esourcing Automatic: For simple Yes/No questions, allocate a score and the results are automatically calculated based on responses submitted. Collaborative: Answers that require a text response can be assessed by multiple members of the team imputting their scores. The average score is then automatically collated in accordance with individual weightings. Manually: Users can chose to manually score answers. Spider/radar diagrams provide an easy graphical overview of suppliers relative strengths and weaknesses. If you need more clarity on part of the tender, then you can of course review responses on a question by question basis. To keep the tender process transparent and fair, the web3 esourcing journal gives you a log of all interactions. The journal is fully auditable and is searchable and downloadable. Completing a tender isn t the end of the journey; you can use the award functionality to automatically notify suppliers. Alternatively you can invite the successful suppliers to participate in an eauction, automatically pulling through the information from your tender exercise.

eauctions eauctions provide an opportunity to further drive value from a competitive tender programme and they can drive savings of up to 50% across a whole range of spend categories. web3 esourcing is a real-time competitive bidding platform which can run a series of different auction types, including forward, reverse, English, Dutch and Japanese. Build Creating a new event is easy; you can flip supplier information and results straight through from the tender stage. Alternatively the easy to follow tab structure guides users through the event construction workflow where timeframe and rules of the event are set. You re in full control of all the key auction parameters and settings, including: Duration Bid increments Bid rankings Bid extensions Surrogate bidding Shock and awe This freedom to set up your eauction in a wide variety of different ways gives you the best possible chance to create a successful event. The Auction Getting suppliers to engage with an eauction process is made simple with web3 esourcing. The supplier portal has been built with the same intuitive setup as the rest of our software, effectively removing barriers to participation. In the run up to the auction suppliers are given online access to quickly and easily input their start price: either overall, by lots, or by lines. Once the event is underway buyers and suppliers can contact each other quickly through instant messaging available in web3 esourcing, speeding up communication. Instant messaging also forms part of the audit trail so all questions and answers are tracked. All bids are tracked in real-time and are displayed in both textual and graphical format, showing you at a glance the progress of the auction. Award Once an auction is complete the system will show the top bidder, by lots and auction. You can then award, either by lots or for the overall auction. By pressing the Award button you can send automatic notifications to both the successful and unsuccessful suppliers via the platform, reducing the administrative burden. What is shock and awe? This feature can be used in eauctions when one supplier makes a dramatic bid to push themselves into the lead. Shock and awe hides this information to encourage the remaining suppliers to keep bidding Project Project lets users plan their esourcing activities so that all related information is stored in one central place which can be accessed by selected members of the procurement team. Project works by building tasks and specifying their completion date and status. Related tasks can be grouped together and the smart sort looks at dates and dependencies to arrange them in a best-fit sequence, simplifying the planning process for buyers. As projects can be viewed as a list, flow view or gannt chart, it s easy to view progress and organise resources. Projects can also be downloaded directly into Microsoft Project or Excel to facilitate collaboration across teams.

Reports web3 esourcing reporting delivers powerful reporting at the touch of a button, powered by Microsoft sql server. Users and administrators can quickly gain visibility of supplier interactions and facilitating a fully auditable dialogue. Supplier Relationship web3 esourcing supports your Supplier Relationship programme by providing visibility of supplier interactions and facilitating a fully auditable dialogue. Supplier History 360º Surveys The Supplier History section shows a searchable list of all your suppliers. You can drill down into individual suppliers to see what events they ve been involved with and how many they ve been awarded. All the information about a supplier and their interactions is stored and accessible in one place. Buyers can also see the information a supplier completed in their registration form, so they can quickly and easily find details like addresses. This makes it much easier for large teams to work on multiple projects simultaneously without having to ask colleagues about their experience with a certain supplier or review emails. With the web3 survey tool you can benchmark and monitor the complex relationships between your internal stakeholders and suppliers. You can use the 360º surveys to create a range of surveys, simple or complex. For example your surveys can be used to target suppliers on their experience with your organisation in general or on a specific event. Equally surveys can also be used to review perception of a buyer s or suppliers performance. When designing your questionnaire, you can limit questions to specific respondents, i.e. having the same survey to both buyers and suppliers, but specify different questions to be answered by the different groups. The web3 esourcing survey tool can be used to create a wide range of surveys including: Buyer questions to suppliers Suppliers questioned about buyers Employee reviews Negotiation reviews completed by suppliers and buyers Once the survey has closed, you can conduct a full analysis from within web3 esourcing, allowing you to review the responses quickly. Results can also be exported to Microsoft Excel at the touch of a button. The results of surveys can be used to monitor and benchmark performance. The outcomes, particularly from those surveys related to one event, can form part of the learning to drive future improvement in processes or approach. This also forms part of your audit trail, so potential issues with stakeholders can be spotted and dealt with early.

Contract Contract provides a common repository for the storage of all your supplier contracts. Contract can be delivered in isolation or in conjunction with the other features of web3 esourcing. Contracts can be constructed by flipping over the details of the winning supplier from your etender or eauction with the addition of custom fields to capture contract-specific data. web3 Contract has search functionality and all documents have version control, providing an easy and risk free way of keeping a central record of all your contracts. You can assign users to different security levels starting from view only access, through to an administrator with deletion rights. Role permissions define which documents and what level of detail a user can see. For particularly sensitive documents, you can specify user permissions that overwrite general permissions. Reminders and Planning To ensure contracts are reviewed regularly, project plans can be built around them. You can add in review dates and measurements against quarterly deliverables, which will send email reminders at specified intervals. When a contract comes to its review date, you have three choices: Suspend the contract Renew for a set period of time Renew the whole contract Using web3 to create tasks and set reminders means that you don t have to diarise them. If a member of your team leaves all of their tasks and reminders can be allocated to another team member, eliminating concerns about missing important deadlines and reducing management effort. Reporting in Contract To give users an insight into all the contracts that are managed within web3 esourcing, the Contract module also contains a reporting function. This empowers users to deep dive into their contract data at the push of a button. There are a number of standard reports including: Contract overview Users can view a snapshot of all the contracts in place. Contract types A summary of the different types of contract your organisation has, broken down by category and business centre. Visual dashboard This helpful report is useful for sharing key contract statistics with senior management. Buyers can also see at a glance any contracts about to expire. All standard reports can be exported as PDF or into Microsoft Excel for further analysis.

Conclusion Wax Digital web3 esourcing delivers a uniquely intuitive, flexible and comprehensive set of electronic sourcing tools designed to give procurement teams complete control over the sourcing cycle in one easy to use package. The system makes it easy to create and manage even the most complex of tenders, whether one-off or as a series of stages that can culminate in an eauction to drive best value from suppliers. Project features allow for centralised functions to set up and control key milestones, allowing dispersed stakeholders to be brought easily into the process and to make planning and management simple. In addition web3 esourcing gives you visibility of suppliers activity to drive your SRM programme. The results for any procurement function are transformative and include: Total control, visibility and auditability within a single intuitive interface for all sourcing activities and communications Savings of up to 85% in management overhead vs traditional paper or spreadsheet based tender processes Simpler, more effective and more inclusive collaboration between stakeholders across the organisation and supply chain Automated best practice enforcement Price reductions averaging 18% across all categories through electronic auctions To find out how your organisation and team could benefit from web3 esourcing, request a demo, alternatively for more information take a look at our website. Wax Digital web3 esourcing debuted in the 2013 Gartner Magic Quadrant for Strategic Sourcing Suites, placing higher than any other UK sourcing provider. Key strengths of web3 esourcing identified in the report are: Strong reference feedback Multilingual user interface Top 5 global ranking for contract management Complete S2P (source-to-pay) suite Strong user authentication and data security Wax Digital is one of only a handful of vendors to feature in both the Magic Quadrant report and also the eprocurement Vendor Landscape report, placing us as a top 5 vendor globally for source-to-pay software delivery. Wax Digital delivers on demand source-to-pay solutions to the world s leading organisations. Copyright 2014 Wax Digital Ltd. All rights reserved. This document is furnished as is without warranty of any kind. Specifications are subject to change without notice. Wax Digital web3, Wax Digital ESB and the Wax Digital logo are trademarks or registered trademarks of Wax Digital Ltd. All other trademarks, marked and not marked, are the property of their respective owners. Grafton House, Grafton Street Hyde, Cheshire SK14 2AX Tel: +44 (0)161 367 8375 Fax: +44 (0)161 367 8379 Email: info@waxdigital.com www.waxdigital.com