Software for choosing suppliers with Sourcing

Many organisations run into bottlenecks in their procurement process: it takes too much time, the overview is missing and suppliers are not always chosen on the right grounds. With Sourcing of ISPnext you can change this. From the first requirement to the signing of the contract, you manage the entire process with the help of smart templates, workflows and AI, fully tailored to your procurement policy. This results in time savings, more control and better agreements with the right suppliers.

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The benefits of the Sourcing solution

Procurement policy under one roof

From determining the need to selecting the supplier: you keep a grip on the entire process. Sourcing helps you make choices based on project goals, internal requirements and current supplier data.

Fasten the procurement process

Thanks to flexible templates, streamlined workflows and automated RFx processes, your process runs as planned. That ensures speed and clarity, both internally and towards suppliers.

Good agreements, well documented

All information and documents are in one central location. This ensures that all requirements, from the initial analysis to the time of award, are properly recorded and secured.

Sourcing in 5 steps

With Sourcing, you streamline the entire Source-to-Contract process: from needs assessment to contract signing. You save time, increase transparency and select the right supplier faster through one digital platform.

1. Define the need

2. Start RFx processes.

3. Compare suppliers

4. Make the decision

5. Contract smartly

1. Define the need

Determine project goals and internal requirements.

Gather input via an intake form and sharply map procurement needs.
Assemble a project team to define requirements and specifications.
Establish a uniform basis for inviting the right suppliers.
Place focus on proper preparation for better bid quality.

2. Start RFx processes.

Use templates for RFI, RFQ and RFP.

Easily draft RFx applications using templates for structure and speed.
Add product details, documents and questionnaires with knockout criteria.
Automate workflows for inquiries, submissions and deadlines.
Keep everything centralised and trackable within the Sourcing solution.

3. Compare suppliers

Rate on price, quality and performance.

Use scoring models to objectively compare on price, terms and sustainability.
Monitor progress via dashboards and track responses in real time.
Automate reminders and monitor schedule and award dates.
Involve stakeholders in the evaluation for a supported decision.

4. Make the decision

Select the vendor that is the best fit.

Select the vendor that scores best on preset evaluation criteria.
Let teams decide together for transparent and supported choices.
Link selection to the original request for proposal (RFQ).
Provide clear documentation in preparation for contracting.

5. Contract smartly

Document agreements and ensure compliance.

Automatically generate a draft contract linked to the RFx request.
Maintain link between procurement criteria and contractual obligations.
Capture agreements in line with compliance and supplier policies.
Strengthen governance and lay a reliable foundation for future sourcing.

Gain more control with Sourcing software

With our Sourcing software you bring structure to your procurement processes. From needs assessment to contract signing, everything follows a clear and transparent process. RFx processes are started and guided automatically, so you do not skip any steps and always evaluate suppliers on equal grounds.

Through integrations with your ERP system, you will always work with up-to-date data, save time and reduce risks. This makes your organisation more agile and ensures better results in your supplier selection.

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Who is our Sourcing solution suitable for?

This solution is ideal for organisations that want to accelerate their procurement processes, reduce risk and create better supplier deals.

Sourcing is suitable for:

CPO

The CPO focuses on strategic supplier management and aims to mitigate risk and maximise value with smart sourcing software.

Procurement Manager

The Procurement Manager looks for efficient ways to select suppliers and manage contracts through streamlined sourcing processes.

Finance Manager

The Finance Manager sees opportunities in effective sourcing to realise savings and better utilise budgets.

ERP integrations for vendor selection

More about our ERP integrations

Who works with our Sourcing software?

More than 450 organisations trust ISPnext. From governments to healthcare and educational institutions, our customers choose speed, transparency and better supplier agreements.

Smooth implementation of digital invoicing for DPD

Logics invoice processing for Fetim Group

Inkoop SDCG makes healthcare contract management clearer

Instant insight into supplier performance for GGZ Friesland

View more customer cases

"We use Sourcing in mini-competitions which contributes to a transparent process and procurement with integrity."

Hanna Schuinder, Coordinator of Contract Management and Support Team | SSC Ons

View customer case

Why choose Sourcing from ISPnext?

35%

Time savings on quote comparisons

100%

Traceability in the decision-making process

20%

Increased engagement from internal stakeholders

100%

Streamlined RFx processes and templates

Sourcing in 5 steps

In this whitepaper, learn how to use a structured approach to select the right suppliers, accelerate RFx processes and save costs. Receive practical insights and tips to make your sourcing process more efficient and effective.

Mockup_Preview_Sourcing in 5 stappen (ENG)

Frequently asked questions about Sourcing

What is Sourcing?

Sourcing is the process of selecting and contracting suppliers based on predetermined criteria, such as price, quality and performance.

What is Strategic Sourcing?

Strategic Sourcing focuses on optimising procurement processes by making strategic supplier choices that contribute to long-term goals.

What are RFx processes?

RFx processes include RFI (Request for Information), RFQ (Request for Quotation) and RFP (Request for Proposal), and help with structured procurement.

What is the advantage of Source-to-Contract?

It provides one streamlined process from needs assessment to contract signing, eliminating errors and delays.

Our Source-to-Pay solutions

Whether choosing the right supplier, managing contracts or processing invoices, with ISPnext you manage the entire process efficiently and compliantly.

Solutions Add-ons

Source-to-Contract

Sourcing

Source-to-Contract

Vendor Management

Source-to-Contract

Contract Management

Purchase-to-Pay

Procurement

Purchase-to-Pay

AP Automation

Insights

Spend Analytics

Sourcing

Optimise sourcing processes with supplier selection and market analysis.

Key benefits:

Accelerate and simplify RFx processes.

Negotiate the best terms and prices.

Shorten lead times and reduce process costs.

Vendor Management

Manage supplier relationships effectively with automated evaluations and performance monitoring.

Key benefits:

Reduce risk through visibility into creditworthiness.

Centralise supplier and policy information.

Build strong, trusted relationships with suppliers.

Contract Management

Streamline contract management from creation to renewal with workflows and compliance monitoring.

Key benefits:

Centrally manage contracts and easily share with stakeholders.

Improve compliance with standardised templates.

Get real-time visibility into obligations and performance.

Procurement

Automate procurement processes with ordering systems and approval workflows.

Key benefits:

Order at negotiated prices and terms.

Reduce fraud and errors through authorisations.

Bring all spend together for optimal control.

AP Automation

Accelerate invoice processing with AI and automated approval paths.

Key benefits:

Automate repetitive and time-consuming tasks.

Prevent erroneous or duplicate payments.

Pay on time and improve financial efficiency.

Spend Analytics

Get deep insights into your spending patterns with comprehensive analytics andreports.

Key benefits:

Get real-time insight into spend and savings potential.

Optimise decision making and procurement strategy.

Increase transparency and reliability of data.

nextAI

DORA

E-invoicing

Procurement Team Management

Supplier360

Dynamic Discounting

Rebate Management

nextAI

Make Business Spend Management processes faster, smarter and easier.

Key benefits:

Speed up the processing of invoices, contracts and purchase orders.
Minimise errors and exceptions.
Save time and money.

DORA

Integrate DORA compliance into your processes and generate one-click reports.

Key benefits:

Automate DORA reporting.
Gain insight into operational and digital risks.
Implement an efficient and scalable approach.

E-invoicing

Process invoices digitally, securely and with regulatory compliance.

Key benefits:

Comply with national and European standards.
Automate validation and processing.
Enhance financial visibility with integrated control.

Procurement Team Management

Make the financial value of the procurement department visible.

Key benefits:

Gain full visibility into ongoing and future savings.
Increase collaboration and transparency among team members.
Centralise reporting for consistent decision-making.

Supplier360

Get a full 360° view of your suppliers in one central platform.

Key benefits:

Centralise supplier data for maximum reliability.
Identify risks in a timely manner through continuous monitoring.
Encourage collaboration and long-term relationships.

Dynamic Discounting

Pay faster, save more and strengthen your cash flow.

Key benefits:

Increase financial efficiency and cost savings.
Achieve speed and agility in payment arrangements.
Improve collaboration with suppliers through flexible terms.

Rebate Management

Utilise every bonus appointment, automatically and accurately.

Key benefits:

Centralise and automate all rebate agreements.
Ensure accuracy and compliance.
Maximise financial impact.