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May 26, 2020 | Emily Lambert
It has never been more important, or more challenging, for procurement professionals to do their job.
At Bonfire, we’ve worked with hundreds of public agencies across North America, and we’ve seen firsthand that the demands on procurement are changing. In today’s fast-paced, connected world, you’re under a lot of pressure to deliver instant results for any competitive event. The challenges of COVID-19 have heightened that pressure, but they have also highlighted procurement’s potential to be more than simply an administrator of buying processes, but a strategic advisor to your agency.
Stepping into this new era of public procurement as a strategic partner means that simply digitizing your existing processes is table stakes. That’s why Bonfire Strategic Sourcing software is evolving to do more than bring your processes online. With new tools optimized for collaboration and built-in access to bid and RFP insights and templates (surfaced from our library of 40,000+ projects), the new Bonfire empowers procurement professionals to drive greater agency impact, achieve better outcomes, and engage colleagues along the way.
As other departments become more data-driven, now it’s procurement’s turn.
We know how frustrating and time-consuming it can be to search Google or call up your procurement peers to find RFP templates to kick-off your process. That’s why we’ve introduced Bonfire Benchmarking, which gives you access to bid and RFP recommendations and templates surfaced from our library of 40,000+ competitive events. Now, you can walk into any planning meeting armed with the data you need to provide strategic guidance to your peers. You can set expectations for timelines, criteria weighting, vendor participation, and requested documents.
When we asked our clients what their request intake process looked like, many answered the same—back-and-forth emails, or even a conversation in the hallway. With no formal request process, prioritization and planning can be a challenge for your procurement team—often resulting in procurement being brought-in late and asked to execute on strategies that didn’t involve any strategic procurement input.
Bonfire Intake formalizes your request process with digital tools that make it easy to work with procurement. Now, you can integrate strategic planning at the start of every project, setting-up all your bids and RFPs to succeed. Digital tools make it easy for your peers to bring their requests, and in-app templates lighten the load on your internal stakeholders by setting expectations early.
Bonfire Intake provides one central place for all planning, executing, and contract activity, improving project visibility for buyers and forecasting budget and spend for your leadership team.
Whether you call them bids, quotes, or invitationals, running quick and compliant price-driven bids is critical to meet the fast-paced demands of your agency. That’s why we’ve built new tools and templates to go to market fast and get immediate results, so your team can get out of the weeds of administrative work and find new opportunities to drive additional value in your bids.
With our new price-only bids features, manage compliance with electronically sealed bids and templates, and prepare for vendor debriefs with audit reports that track all data and interactions. Automatically tabulate and sort vendor offers, optimized with data visualizations that help you quickly identify the lowest bidder.
On top of all these exciting product innovations, we’ve given the Bonfire platform a bit of a makeover, informed by client research and testing. Everything you love about Bonfire is still there, but the interface is now faster, cleaner, and easier than ever before for your buyers and your stakeholders to learn and use.
The new Bonfire has everything you need to make confident and data-driven decisions at every stage of the sourcing process, and this blog post only offers a glimpse into what we’ve been working on to enable you to step into a new era of public procurement. Whether you’re currently a Bonfire client or you’re looking for an eSourcing tool that does more than simply bring your processes online, dig deeper into the new Bonfire in our upcoming webinar on June 18 at 1 PM ET.
Emily Lambert | Bonfire Interactive
As the Content Marketing Strategist at Bonfire, Emily writes thought leadership for procurement teams in the public sector. Best practices content for procurement professionals doesn’t have to be a chore to get through—which is why Emily strives to strike the balance of writing educational yet engaging content that inspires sourcing experts and equips them to make the best purchasing decisions.
Join our webinar on June 18 to learn more about what’s new at Bonfire!