Scout RFP, the company that is reinventing Sourcing and Procurement, has been recognized as one of the Top 10 Auction Software Solution Providers 2019 by CIO Applications based on an evaluation of Scout’s in-depth capabilities in the Auction Software Industry. The annual list of companies is selected by a panel of experts and members of CIO Applications’ editorial board to recognize and promote technology entrepreneurship. In addition, Scout was ranked as the top e-sourcing tool for user satisfaction in a recent industry report from Procurement Leaders, Vendor Market: E-sourcing tools.
“It is our pleasure to feature Scout RFP as one of the Top 10 Auction Software Solution Providers 2019. We are impressed by Scout’s platform that provides collaborative cloud-based reverse auction software and enables procurement to automate core processes,” said Joe Phillip, Managing Editor of CIO Applications.
According to a survey from Gartner’s Procurement Leadership Council, less than 30% of procurement teams have automated their procurement processes. Additionally, when they adopt e-sourcing solutions like reverse auctions, they can save up to 25% of costs. Legacy reverse auction systems have traditionally been cumbersome, expensive, and left teams dissatisfied. Modern technology systems incorporate visibility, collaboration, and simplicity that allow procurement teams to achieve greater strategic business impact. According to the Institute for Supply Management (ISM), enterprises who implement a reverse auctions solution see 20-30x more bids and 12-24% greater savings.
“These recognitions further validate Scout’s innovation, vision, and industry impact,” said Chris Wada, Vice President of Product at Scout RFP. “Scout Reverse Auctions is just one of the many ways we are transforming the Source to Contract space by enabling procurement operations to invest in their relationships with suppliers and achieve collaborative business outcomes faster than ever. This innovation supports Scout’s continuous commitment to setting our customers up for long-term success.”
For more information on Scout RFP’s Reverse Auctions solution, visit https://www.scoutrfp.com/scout-product-tour/reverse-auctions/.