The B2B company announced Monday SourcePass 5.0 that enables multi-bidding through eRFQs and dynamic auctions.
Aerospace and defense business-to-business trading company Exostar announced Monday the next iteration of its e-sourcing platform, SourcePass 5.0.
Officials of the Herndon, Va., company said the new version makes it easier for customers to conduct B2B transactions by accommodating a wider range of services, including direct and indirect materials procurement of simple or complex lots, spot buys and multi-year contracts.
Version 5.0 is based on the ePASS sourcing platform from Emptoris Inc., of Burlington, Mass., which provides Web-based sourcing solutions.
ePass, or, Electronic Procurement Application for Strategic Sourcing, consists of decision support, supplier relationship management, sourcing workflow and event management and multi-tier sourcing collaboration modules.
New to the Exostar release is an eRFX capability that includes electronic requests for quotes. The upgrade enables multiple bids to be delivered in a short timeframe through both electronic RFQs and dynamic auctions.
Real-time savings calculations based on target or historical costs are now also available during live auctions.
SourcePass 5.0 provides support for complex bid responses for RFQs, including volume discounts and bundled bids, giving users the ability to do side-by-side comparisons of RFQ and auction bid results, including the ability to assign relative weights to bid criteria.
Bid charts by event, lot or line item are displayed for all suppliers.
Launched in March of 2000, Exostar is backed by industry heavy weights BAE Systems, Boeing, Raytheon Co. and Rolls-Royce.