ePurchasing
Ventelligence also offers a platform to automate the purchasing process and provide credit union management with the functionality to collect and analyze vendor information, including a comparison of vendors on pricing and commodity functionality. This platform includes the following:
- Request for Information (RFI) to pre-qualify new third party vendors.
- Request for Quotation (RFQ) to provide detailed information pertaining to the specifications of the commodities.
- Enhanced and consistent third party vendor and credit union management communication via an online forum.
- Third party vendor software training is provided by Ventelligence staff.
- Capability to provide collaborative efforts, increasing purchasing power.
- Live bidding environment, encouraging highly competitive bidding and generating substantial savings.
"We were initially interested in the Ventelligence system so we could better manage our vendor agreements and streamline our due diligence and risk assessment processes. We soon discovered an added bonus to the system--the online purchasing component. With this tool, we were able to save a total of 20% off our initial paper bid for computer equipment. We will definitely be using the online buying feature on future purchases."
John Hirabayashi, Community First Credit Union of Florida
Top
