Beacon Bid Features

Provide standard templates for different types of RFPs

Based on 11 Beacon Bid reviews. Support other types of requests such as RFB/RFI/RFQ

Track versions of RFP documents and related changes

Maintain a library of questions that can be reused

Track submissions from multiple vendors and suppliers

Compare submissions and score suppliers

Choose the best submission for an RFP

Allow multiple users to collaborate on submissions

Maintain a repository or library of content and documents that can be reused

RFPs can be reviewed by managers before submission

Create real-time reports to compare data trends across processes, RFPs, vendors or profiles

Use criteria to add or remove suppliers to/from approved lists.

Manage communications with suppliers on multiple channels such as phone or email.

Capture and maintain documents related to suppliers and their products or services.

Compare goods received with purchase orders and document variations

Manage workflows and business processes for procurement.

Provide standard procurement contracts that can be customized.

Maintain a repository of content such as catalogs and other documents.

Define requisition rules for various types of procurement

Provide features to capture and record invoices, such as import or scanning

Allow suppliers to submit invoices using an online portal

Deliver a central repository of AP documents, such as POs and invoices

Allows users to evaluate supplier performance using standard and custom KPIs.

Provide features to compare suppliers and choose the best option for various activities.

Identify potential issues and how they may impact relationships with suppliers.

Identify and assess suppliers for different products and services.

Electronically create and manage purchase orders for products and services.

Include features for procurement invoicing and e-invoicing.

Ability to match AP invoices to POs, contracts, or payments

Identify incomplete or late supplier payments

Include workflows for approvals and invoice processing

Comply with local and global tax regulations for collections

Electronically submit invoices to buyers

Create and manage supplier profiles that include contact and pricing information.

Identify the services and products provided by suppliers, as well as certifications.

Track history of all interactions and business transactions with suppliers.

Improve visibility into procurement activities across the company.

Monitor the performance of procurement operations

Analyze procurement spending and identify future trends.

Track invoices based on due dates to identify overdue payments

Monitor KPIs such as time to process an invoice or erroneous payments

Provide integration with accounting and financial management software

Integrate with payment gateways and enterprise payments software

Deliver integrations with accounting modules of ERP systems

Allow integration with procurement software, such as Procure To Pay, RFP and Spend Management

Tracks the progress of any RFP in real time and set milestones to improve efficiency

Updates, organizes, and stores content of a project

Assign users, roles, and manage access in order to set tasks and leave comments

Automate repetitive and manual tasks, such as auto-filling answers and auto-responses

Export files or spreadsheets with the ability to format and accomidate images

Upload files or spreadsheets from multiple sources

Capability to perform complex tasks without constant human input

Ability to break down and plan multi-step processes

Works across multiple software systems or databases

Anticipates needs and offers suggestions without prompting

Makes informed choices based on available data and objectives