RFQ & Bid Management Simplified
The powerful 4castplus RFQ module streamlines and automates bid management, improves efficiency, and empowers your team to focus on awarding contracts to the right bidders. Say goodbye to emails, spreadsheets, and paper – organize everything from documents to communications in one easy-to-use platform.
“It gives out clients the extra confidence in our ability to provide the highest standards in performance and reporting. “
Bird Construction
Invitation to Bid
Vendor portal
Eliminate emails and manual effort by taking advantage of the 4castplus vendor portal to help manage the entire bidding lifecycle. Issue your bids through the portal where vendors can securely login and download documents, interact with the buyers and submit their proposals. Keep the process orderly and reduce the clutter.
Evaluation and Award
Commercial bid evaluation
Whether a sealed or open bid process, 4castplus gives your team the evaluation tools to objectively choose the best vendor(s) for the award. Preconfigured evaluation criteria, Q&A, pricing standards, etc. help your team to collaboratively choose the right solution.
Award to purchase order
4castplus provides an “award” process that enables the buyer team to follow a few simple steps to award the RFQ to one or more bidders. The system will auto-transfer all the RFQ data and documents to one or more purchase orders.
RFQ is integral to the full procurement lifecycle
4castplus enables you to consolidate the bidding process while giving your contractors and suppliers clear visibility into the process and required actions. You can create and issue requests for quote in an easy-to-use interface, then leverage the system to help you manage the documents, communication and award process. Put an end to all the manual steps and remove the messiness of managing multiple vendors and communications. Set exacting guidelines and consistency so all your RFQ/RFP processes follow your procurement standards.
Manual RFQ management using emails and spreadsheets leads to lost documents, communication gaps, and bid evaluation delays. 4castplus centralizes RFQ and bid management, ensuring a streamlined, organized, and efficient procurement process.
Yes, in fact, you can select from the list of vendors right in the RFQ module. Vendors can be organized by class, by code, and you can also check which materials the vendor supplies. You can also check their rating (out of 5 stars). You can even pick which vendor contact to use if there are multiple.
4castplus has a comprehensive commercial bid evaluation that includes evaluation criteria, pricing, rating, etc. However, there is no formal technical evaluation module.
Yes, vendors can securely log into the 4castplus vendor portal to submit bids, download documents, interact with buyers, and track bid progress—all in one centralized platform.
By automating much of the manual effort in bid management, communication, document management, and bid evaluations, 4castplus significantly reduces manual workload, allowing procurement teams to focus on awarding contracts to the best bidders.
Use of the vendor portal is optional. While it’s a very convenient and productive way to manage the tendering process, we understand that some of your suppliers or subcontractors may not want to use it. In those cases, you can select which suppliers you want to enable to use the vendor portal on a PO-by-PO basis. You can make it an all-or-none option, or a hybrid option where some use it and some prefer a traditional method.
Yes, you can set up an RFQ bid to be either sealed or open. Sealed bids will withhold access to vendor submissions until after the bid closing date & time. Open bids will allow buyers to open bidder proposals as soon as they’re submitted.
Yes, you can attach documents of any type to an RFQ. Documents can be made available in the vendor portal so that all the suppliers have access to them. Vendors can also attach documents as per your contract terms.
Yes, there are multiple notifications that get sent, which are triggered by various events. Such as: RFQ issued, document updated, bid submitted, RFQ acknowledged, bid extended, and many more. You can design the content of these email notifications along with the recipient list of who receives them. Notifications come with an embedded link that will take the recipient to the appropriate location.
Pre-planning and
scheduling
Document
management
Built-in award
process
Vendor forum for interactive discussion stream
Preconfigured Q&A templates
Configurable contract templates
Pre-planning and scheduling
Document management
Built-in award process
Preconfigured Q&A templates
Vendor forum for interactive discussion stream
Configurable contract templates
Step into the future of project management with 4castplus. Free yourself from paper, spreadsheets, and disconnected systems. Elevate your projects with a suite of integrated cost management tools that ensure precision and efficiency from planning to execution. Maximize project profitability – contact us today to learn more.
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No other software offers such a comprehensive suite of project management and procurement tools. Schedule a meeting with a member of our team and see what 4castplus can do for you.