Bonfire for Finance
Bonfire helps finance and procurement teams collaborate more closely to enhance business outcomes.
Clear visibility for closer alignment
With all sourcing activities and contract management streamlined on the Bonfire platform, finance stakeholders can leverage insights in real-time to track against key priorities and deliverables. Instantly understand cost savings and budgeted spend to support resource planning and ensure alignment with strategic objectives.
average cost savings
By the numbers
How Bonfire delivers value
Gain visibility into current and projected sourcing projects, upcoming contract milestones, and targeted spend and savings — avoiding financial surprises and empowering accurate financial planning.
Track targeted spend and savings on each sourcing event and view real-time reports on dollar value savings and cost avoidance, ensuring procurement and finance are aligned in reaching strategic financial targets.
Air-tight Audit Trails
Rest assured that every step of the sourcing process is automatically and securely documented in Bonfire to support audits and compliance to standard regulations.
Sourcing and Contract Insights
In one view, gain visibility into relevant KPIs such as pending projects, projects at risk, or cost savings per project. Easily get a snapshot of the overall contract health or click into items to quickly view contract terms, performance trends, or upcoming actions.
Why strategic sourcing?
Digital transformation is well underway in the public sector, bringing process improvements, time-savings, and better customer service to various functions across the organization. However, many procurement teams remain concerned about how their stakeholders might...read more
Many procurement teams are still using paper and spreadsheets to run their competitive bidding and RFP process, even while other areas of the organization modernize. There are many reasons for keeping paper around, whether it’s lagging laws that require paper copies,...read more
Drawing on data from over $527M of spending decisions, Bonfire brings you the most comprehensive RFP benchmarking study ever conducted. Analyzing a sample of over 2000 anonymized RFP projects, we examine key questions: How are RFPs typically set up (pricing, stages,...read more