As companies see revenues begin to flatten, the demand for increased efficiencies will continue to grow.
New software from Frictionless Commerce Inc., of Cambridge, Mass., will help companies save money in purchasing.
Announced last week, Frictionless Sourcing automates the sourcing process, encompassing everything from analysis to negotiations to supplier selection. Aimed at Global 2500 companies and the government, the product squeezes inefficiencies out of the process through market data, expenditure analysis and strategy integration, according to company officials.
The software includes a customized tool that contract managers can use to access purchasing information, rate requests for quotations, review a line of online auction formats and track projects. It also includes vendor management abilities that incorporate a contract database, supplier performance data and sourcing analytics.
Companies will be able to evaluate goods and services on various criteria, from quantity to delivery to service plans.
The software is scheduled to ship in April.