Raindrop Sourcing drives price compression and delivers savings on your external commodity supplier spend. Raindrop meticulously designed the Sourcing Module for ease of use and collaborating with your suppliers to achieve mutual success in a fast and efficient manner.
Raindrop provides all of the features and functionality needed to gain information on a commodity. You can begin with an RFI, and move towards an RFP with a single click. Should you want multiple proposals, you can instantly move to a Reverse Auction and have bidding suppliers compete for your business.
Raindrop’s Sourcing module helps to increase the sourcing efficiency and significantly reduce go to market time by 75% through our template library. Raindrop’s Sourcing module is designed to automate and digitize the entire sourcing process from drafting, inviting bidders, Q&A, evaluating bids, and final award.
Raindrop provides instant feedback to suppliers on their quotes, driving price compression. Customers can configure supplier side feedback at the item level or at the lot level, in terms of how far their price is from the lowest bid, or from the historical price. Customers can also see the system-delivered savings qualification, between quotes as well as between sourcing rounds.
Raindrop provides templates and functionality which take away the guesswork from bidder qualification to instantly determine if the supplier is capable of meeting your qualitative and quantitative requirements. Gain rapid insight into bidder quality, ability to reliably fulfill and support the requirements, compliance certifications, and much more.
Raindrop’s built-in collaboration feature enables you to collaborate internally as well as with your suppliers during the sourcing event. With Raindrop, you can securely share documents, collaborate in real time via our real-time chat function, leveraging options to interact privately with internal teammates, or externally with your suppliers. Move quickly and confidently with communications all in a single location and hold bidders to due dates, and let the system provide reminders to follow up.
Raindrop Sourcing module can instantly clone a prior sourcing event in a single click, reducing the time to author a new sourcing event and quickly take your business out to market. It also allows you to qualify suppliers once and use them across multiple sourcing events. Post sourcing and award, you can seamlessly pass the contract documents into Raindrop’s Contract Module, fulfilling your entire Procure-to-Pay needs in a single system.
Raindrop provides the pre-built framework to evaluate suppliers based on price, coverage, outliers, incumbent vs. new supplier award optimization based on several parameters. Have a centralized place to review and score proposals. Add multiple internal stakeholders to weigh in on the proposals, and arrive at a business award scenario.
Raindrop’s Sourcing module is a highly intuitive and easy to use solution, designed to take your business out to market quickly and efficiently. Gain the desired results in a compressed amount of time with Raindrop’s streamlined and digitized process. Raindrop helps to take your request out to a global or domestic supplier base in just a few clicks. Define your scope, invite vetted bidders, and the intuitive platform will run and manage the entire bidding process, resulting in competitive bids and analysis from your qualified suppliers for the desired goods and services.