14 November 2002 | Robin Parker
The latest version of FreeMarkets' core sourcing application aims to let users manage the locating, ordering and delivering of all supplies online.
With QuickSource 5.0 (QS), the vendor widens its definition of e-sourcing to embrace online tenders and supplier analysis.
It contains modules to conduct supplier surveys and audits, collect and evaluate price and non-price bid factors online, receive competitive and sealed bids and analyse cost breakdowns and post-auction reports.
Shahriar Broumand, director and general manager of FreeMarkets for the UK and Scandinavia, said the latest version aims to enable organisations to source 100 per cent of goods online.
"Our customers told us we weren't addressing some areas, such as spend visibility, at all, and that they were only able to source about 60 per cent of goods online," he said.
"QS has focused entirely on negotiations and auctions to date. But not everything can be auctioned, and there are huge potential savings to be made through the tendering process."
FreeMarkets also launches Enterprise Sourcing (ES) next month, a sourcing platform that allows companies to design and implement the entire sourcing process online.
ES is a more comprehensive application, which includes all the features of QS. Broumand said that in time, the stand-alone QS model will be merged with the larger platform.