Automated Procurement Bidding with SupplierIQ

Supplier IQ is an intelligent procurement agent that has been designed to solve the inefficiencies in the current buy process (procurement) by automating the manual activity of evaluating and comparing supplier quotations. Users may input all their quotation documentation (price lists, contract terms, etc.) as either PDF or CSV format files and the Supplier IQ will immediately evaluate the relevant data: the unit price and total price; the lead time (supplier delivery); the supplier’s quality history; and the supplier’s payment conditions. The Supplier IQ will then calculate a “Best Match” score for each supplier based on the buyer’s requirements. The Buyer’s Team will be able to rapidly select the best supplier option and complete the procurement quotation evaluation process more quickly than before. By automating this procurement process there will be reduced errors, improved pricing options and faster procurement decision making. The Supplier IQ automatically locates and evaluates key information such as the supplier’s name, contact details, payment terms and past performance history from all uploaded documents.