Lasso’s sourcing and RFQ system provides buyers with the tools they need to efficiency manage their procurements and improve supplier relationships. 

Faster Procurement Cycles:
Lasso’s eBidding systems streamline the RFQ process by automating the creation, distribution, and collection of quotes. Suppliers respond online in real time, cutting days or weeks off traditional methods like email or phone negotiations.

Cost Savings:
By enabling competitive bidding among multiple suppliers, lasso helps drive down prices as vendors vie to offer the best value. Transparent comparisons of quotes help you secure the most cost-effective deals without sacrificing quality.

Wider Supplier Reach:
Lasso’s sourcing platform connect you to a broader pool of vendors, including local and global options, through online marketplaces or integrated databases. This increases competition and opens up opportunities to discover new, high-quality suppliers.

Improved Accuracy:
Automated RFQ templates and standardized formats reduce errors in specifications or requirements. Suppliers submit bids directly into the system, minimizing miscommunication and ensuring all quotes align with your needs.

Enhanced Transparency:
Every step—from RFQ issuance to bid evaluation—is tracked and documented. This creates a clear audit trail and allows stakeholders to monitor the process, ensuring fairness and accountability in supplier selection.

Data-Driven Decisions:
Advanced analytics within lasso’s eBidding platform provide insights into supplier performance, pricing trends, and historical bid data. This empowers you to make informed choices based on value, reliability, and long-term potential.

Better Supplier Collaboration:
Suppliers gain access to lasso’s user-friendly portal to submit bids, ask questions, and receive feedback. This fosters stronger relationships and encourages vendors to participate actively in future opportunities.

Compliance and Governance:
Built-in controls ensure RFQs adhere to company policies and regulatory standards. Features like approval workflows and restricted vendor lists prevent unauthorized purchases and maintain procurement integrity.

Scalability:
Whether you’re issuing one RFQ or hundreds, lasso’s sourcing system scales effortlessly with your needs. It can handle complex, multi-line bids or large supplier pools without slowing down the process.

Real-Time Updates:
Get instant notifications as suppliers submit bids or revise offers. This allows for quicker evaluations and the ability to negotiate or clarify terms on the fly, keeping the process agile.