Scout RFP has been chosen as one of CIO Applications' Top 10 Auction Software Solution Providers 2019, and was ranked as the top e-sourcing tool for user satisfaction in a recent industry report, Vendor Market: E-sourcing tools, from Procurement Leaders.
CIO Applications conducted an evaluation of Scout's in-depth capabilities in the Auction Software Industry and was selected by a panel of experts and members of CIO Applications' editorial board to recognize and promote technology entrepreneurship.
"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.
Less than 30% of procurement teams have automated their procurement processes according to a survey from Gartner's Procurement Leadership Council. In addition, companies can save up to 25% of costs when they adopt e-sourcing solutions like reverse auctions. Traditionally, legacy reverse auction systems have been cumbersome and expensive, leaving teams dissatisfied. Modern technology systems incorporate visibility, collaboration, and simplicity that allow procurement teams to achieve greater strategic business impact. The Institute for Supply Management (ISM) states that enterprises see 20-30x more bids and 12-24% greater savings when they implement a reverse auctions solution.
"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/.
More Info: https://www.scoutrfp.com/