Buyers of professional services increasingly demand more control and centralized management for different contract types : time and materials, fixed-price, or other models. However, most current solutions are still designed for time and materials procurement only, leaving fixed-price engagements without any operational support.
This gap creates sourcing difficulties. A major issue : the solicitation and evaluation processes for fixed-price proposals are often complex and time-consuming, reducing fair competition between providers.
Eleven VMS addresses this challenge with a dedicated module that brings structure, security, and simplicity to fixed-price RFPs. It allows procurement teams to manage all types of engagements from a single, centralized platform.
Our product strategy is based on three pillars : centralization, control, and simplification. With this new module, we take centralization to the next level.
Why a dedicated fixed-price module ?
In theory, fixed-price contracts offer better control over budgets and deliverables. In practice, they often fall short for several reasons.
To structure the RFP process
When providing a fixed-price service, defining the scope of the service is crucial. To do this, particular attention must be paid to anticipating deliverables, milestones, and expectations to avoid deviations. Without this precise framework, projects can result in delays or budget overruns via amendments to the initial contract. In addition, it can be difficult to identify all relevant suppliers for the request for proposals due to the lack of a catalog based on consolidated historical data.
To ensure clear communication
Fixed-price contracts often involve sharing information and discussing sensitive specifications. Poor communication can lead to oversights that result in delays, budget overruns, or the selection of a supplier that is not optimal for the service. In addition, without a clear framework, there is a compliance risk associated with the data shared in exchanges with suppliers.
To compare and select the best responses
Proposals from service providers can come in a variety of formats and use different vocabularies. This makes it difficult to compare them on an equal footing. Buyers of intellectual services therefore face a twofold problem when choosing the right service provider. First, there is a lack of transparency, and second, analyzing each proposal is time-consuming.
How our module transforms fixed-price procurement
Using our platform simplifies the purchasing of intellectual services, whether they are on a time and materials basis or a fixed-price basis. It allows you to manage all your contracts in one place, with a clear overview and total control. This centralization of all types of requests for proposals is based on five key elements.
A collaborative approach
A fixed-price service involves at least three stakeholders, which poses challenges in terms of communication and project monitoring. Some information is slow to be transmitted, and delays are caused by a lack of transparency. Our fixed-price module brings together buyers of intellectual services, operational teams, and service providers on a single platform. Each team is then autonomous, and projects run more smoothly.
Centralized RFP documentation
No need to use multiple tools : our platform allows you to manage all your purchases, whether they are on a time and materials basis, fixed price, or fixed price with time and materials, directly from your interface. For fixed-price services, information is centralized. A single space provides access to deliverables, milestones, contracts, and attachments. Teams save considerable time and can accurately track the progress of services.
Smart milestone management
Depending on the issuer of the request for proposals and the desired service, the latter may require specific configuration. Some services can be performed in a single step, without milestones, while others will follow specific stages, often defined by an internal project manager. Finally, for even greater flexibility, it is possible to let service providers propose milestones to assess their ability to structure the service and how they anticipate deadlines.
Streamlined communication
When issuing a RFP for a fixed-price service, several exchanges are necessary to choose the right service provider. To avoid bias and ensure fair treatment of responses, our platform provides integrated messaging and an anonymous question-and-answer system. Sensitive information that may be shared in requests for proposals or in exchanges is kept confidential thanks to customizable clauses (confidentiality, etc.). Thus, before accessing the details of the project, suppliers must accept these conditions, which guarantee legal protection.
No more delays, no more uncertainty
When issuing a request for proposals, responses are often slow to be collected and centralized. That is why each request for proposals is subject to automated reminders to the service providers solicited. Late responses are also flagged. Finally, once responses have been received, our module provides a comprehensive overview of all responses in a standardized format for faster analysis. Based on your preferred criteria, you can identify the best responses immediately.
A bold vision for fixed-price sourcing
We want to go further in simplifying the management of fixed-price RFP. We continue to innovate to simplify and accelerate your processes. This will involve new features, which will complement the current module through iterations :
A more detailed understanding of responses to requests for proposals thanks to an ergonomic and intuitive presentation.
Optimizing internal processes with the implementation of customized validation workflows for your company.
Improved decision-making speed thanks to AI, which will help you compare responses to each of your requests for proposals.
A solution developed in collaboration with our customers
To ensure that our module meets the needs of buyers of intellectual services as closely as possible, it was developed in partnership with several companies. Our flat-rate module was designed with and for buyers. We worked hand in hand with our users to offer an intuitive, high-performance tool that is aligned with their specific needs. This co-construction methodology is also part of the DNA of our product vision.
Want to implement the fixed-price module ? We can help you configure it to centralize, manage, and control all your projects. Contact your Customer Success Manager or reach us at : support@littlebigconnection.com
