Veriscape RFQ
Better Supplier Decisions Start with Better Quotations

Bring Structure and Control to Competitive Sourcing

Not every purchase can follow an established supplier catalog. When products or services require competitive quotations, procurement teams must gather proposals from multiple suppliers, compare pricing and terms, and manage approvals before making a purchasing decision. Handling these activities through emails, spreadsheets, and disconnected processes creates unnecessary administrative work, inconsistent evaluations, and limited visibility into how suppliers are selected.

Veriscape RFQ brings these activities into a structured sourcing process, helping organizations define purchasing requirements, collect and compare supplier quotations, and evaluate offers against consistent criteria. By considering price alongside delivery, warranty, compliance, and other requirements, procurement teams can make more informed supplier selections, strengthen accountability, and maintain greater control over purchasing decisions.

 

Why Supplier Sourcing Gets Complicated

When purchasing requires multiple supplier quotations, procurement teams need to coordinate requirements, responses, evaluations, and approvals before a decision can be made.

Without a consistent process, these activities can create unnecessary complexity and make it harder to select suppliers with confidence.

Scattered Supplier Quotations

 

Supplier responses spread across emails, spreadsheets, and attachments make it difficult to consolidate information, manage revisions, and maintain visibility over outstanding quotations.

Inconsistent Supplier Evaluation

 

Without common evaluation criteria, comparing suppliers becomes subjective. Price can take priority over important considerations such as delivery, warranty, compliance, and overall value.

Disconnected Approvals

 

Manual handoffs between buyers, procurement managers, and approvers can delay purchasing decisions and make it harder to maintain consistent sourcing controls.

Limited Decision Visibility

 

When evaluations and award decisions aren't properly documented, organizations have less visibility into why suppliers were selected and whether purchasing requirements were followed.

From Request to Award, All in One Process

Veriscape RFQ brings supplier quotations and evaluation activities into a structured process, helping procurement teams manage each stage of supplier selection with greater consistency and oversight.

  1. Define Your Requirements
    Specify the products or services required, quantities, delivery expectations, and evaluation criteria. Establish a consistent set of requirements for suppliers to respond against.
  2. Invite Suppliers to Quote
    Select suppliers and share the information they need to respond. Collect quotations against the same requirements, creating a more consistent basis for comparison.
  3. Compare and Evaluate
    Review supplier responses side by side, considering pricing, delivery, warranty, compliance, and other relevant criteria. Apply weighted evaluations to identify the offers that best meet purchasing priorities.
  4. Review and Award
    Select the preferred supplier, document the rationale behind the decision, and complete the necessary reviews and approvals before proceeding with purchasing.
RFQ
Evaluation

The Lowest Quote Isn't Always the Best Quote.

Price matters, but it isn't the only factor that determines the value of a supplier's offer.

A lower-priced quotation may involve longer delivery times, less favorable warranty conditions, or exceptions to the original requirements. A higher-priced offer may provide better overall value when these factors are considered together.

Veriscape RFQ helps procurement teams evaluate supplier responses against defined criteria, bringing commercial and operational considerations into the same decision-making process.

Supporting capabilities:

  • Side-by-side supplier comparisons
  • Weighted evaluation criteria
  • Visibility into pricing, delivery, warranty, and other quotation terms
  • Identification of exceptions to purchasing requirements
  • More consistent justification for supplier selection

The result: More informed supplier decisions based on overall value, rather than price alone.

Greater Control Throughout the Sourcing Process

Competitive sourcing involves more than gathering quotations. Buyers, suppliers, procurement managers, and approvers all play a role in reaching the right purchasing decision.

Veriscape RFQ is designed to bring greater consistency and visibility to these activities, helping organizations manage supplier engagement and sourcing decisions within a more controlled process.

Supplier Participation and Communication

Give suppliers a dedicated place to review RFQ requirements, respond to invitations, and submit quotations. Buyers can manage supplier responses and clarification requests within a more structured process, reducing reliance on disconnected correspondence.

Procurement Reviews and Approvals

Support purchasing governance through defined roles and approval requirements. Procurement managers and authorized reviewers can oversee RFQ publication and supplier award decisions, helping organizations maintain appropriate controls over sourcing activities.

Decision History and Accountability

Maintain a record of RFQ activity, supplier responses, evaluations, and award decisions. Greater traceability makes purchasing decisions easier to review and supports accountability across the procurement process.

RFQ Status and Reporting

Provide visibility into RFQs awaiting action, supplier participation, evaluation activity, and completed awards. Clearer reporting helps procurement teams monitor sourcing workloads, identify outstanding decisions, and better understand purchasing activity.
Smarter Procurement Decisions

Make More Informed Supplier Decisions.

Bring greater structure, consistency, and control to the way your organization requests, evaluates, and awards supplier quotations.

Explore how Veriscape RFQ can support your procurement environment.