Request revised offers from quoted vendors on RFQs

Available for: Sourcing

Once you have shortlisted vendors on an RFQ, then there are still often multiple rounds of offers required during negotiations and clarifications. Capturing the progression of pricing during an RFQ allows procurement to demonstrate one element of value as part of the source-to-contract lifecycle.

Previously, Felix only allowed you to capture one offer for a pricing schedule version per vendor, and you had to issue pricing requests to all vendors. Now Felix gives you the ability to capture multiple offers against a single pricing schedule version, for select vendors, so you can manage negotiations after the original tender period is closed.  

With this new functionality, you can: 

• Capture updated submissions without reopening an RFQ: Issue a post tender request to select vendors only, after the original RFQ period, which enables them to input a revised response. All communications will be private to your shortlisted vendors. 
• Track quote revisions during negotiations: When a vendor submits a revised Pricing Schedule (or a basic pricing option, like “lump sum”) during negotiations, you can now toggle to view historic pricing from previous submissions and the latest response.  
• Create a clear audit trail of offer rounds: After the RFQ closes, all additional vendor submissions, including pricing, documents and comments, will be time-stamped and available in one place in the RFQ detail view for auditing. 

For our Public API customers, we have also made the historical pricing submissions available in the Sourcing APIs for external and custom reporting purposes. 

 

Learn how to send Post Tender Requests in Felix

Learn more in our Help articles:

• Understanding post tender requests
• Sending a post tender request
• Managing post-tender requests