FlexRFP Review - why 4.9 stars?

FlexRFP Review
ITQlick Score: 83/100
ITQlick Rating: (4.9/5)
Pricing: 4.8/10 - average cost
Category: Supply Chain -> FlexRFP
Ranking:Ranked 25 out of 227 Supply Chain systems
Company: EC Sourcing Group, Inc.
Pricing: starts at $3,000 per month
Typical customers: Small, medium and large size businesses
Platforms: Desktop, Mobile, Cloud
Links: FlexRFP pricing, FlexRFP alternatives

Shlomi LaviShlomi Lavi / updated: Jun 16, 2022

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What is FlexRFP and its features?

FlexRFP is a web-based supply chain management software that can make the complex strategic sourcing look easier and also he you to save time. No matter how bad the e-sourcing solution or combination of emails and spreadsheets you are using, FlexRFP can always be there to offer a complete solution. The funtionality in the system offered by this software is what makes it better than the other chain management software out there.

FlexRFP is a product of EC Sourcing Group which was founded by Andy Caetta and Ron Emma. It was known as Former 500 earlier and is popular for providing eSourcing solutions.


What is FlexRFP rating?

The rating of FlexRFP is 4.9 stars out of 5 and the total score is 83 out of 100. The rating score is based on our unbiased data-based algo. Learn more - rating methodology page.

Who uses FlexRFP?

FlexRFP is good for almost any industry and has been providing services to a large range of industries including media, manufacturing, retail, consulting and financial services.

It can simplify the day-to-day sourcing and vendor processes of an industry and make things much more smooth and productive.

Supply Tigers, Provident Spend Management and Catholic Health Care Partners are some clients of FlexRFP.

Is it easy to use?

Yes, FlexRFP makes it fairly easy to use. This product is user friendly and intuitive.

Is FlexRFP cloud-based?

Yes, they offer cloud based hosting, which means IT resources are retrieved through web-based tools and applications and you don't need to buy servers and additional hardware equipment.

Can it be used on mobile?

Yes, you can access FlexRFP on your mobile/smart phone.

Is FlexRFP the best Supply Chain system?

FlexRFP is ranked 25 out of 227 software in their category (Supply Chain systems).

What are their main features and functionalities?

Performing RFIs, RFPs and software auctions can greatly increase the vendor management needs of any company and that's what FlexRFP can help you to do. The software offers functions that are less expensive and also simpler than the solutions available out there. Companies get to streamline and automate bid management and enjoy better analysis and negotiation. The software supports improvising both strategic tracing and vendor administration.

The user-interface of FlexRFP looks very familiar because of its Microsoft Excel like look. Other notable features of FlexRFP are reverse/soft auctions, spend analysis, supplier management and contract management. However, the contract and supplier management is optional and not included in the main solution plan. It can be a great way to get full control over spending when you know how your company is spending money.

What are FlexRFP's pros? (4 Pros)

  • FlexRFP’s user friendly interface can be used by anybody who knows how to use Microsoft Excel
  • FlexRFP offers requesting for demo before trying the paid version which is great for those who want to try the software before purchasing
  • The web-based FlexRFP doesn’t require any installation or download and is compatible with all the browsers
  • The supply chain management software is great for handling vendor management and strategic source needs

What are FlexRFP's cons? (5 cons)

  • FlexRFP only focuses on vendor management and strategic source needs and doesn’t focus on other usual supply chain management necessities
  • FlexRFP is not feature-rich like other supply chain management software and doesn’t offer extra useful features
  • The pricing of FlexRFP is slightly higher than the other supply chain management software out there
  • The customer support offered by this tool can be difficult to reach sometimes
  • The software doesn’t offer both web-based and Windows/Linux based software like some other similar software

Who are their main alternatives?

The key competitors for FlexRFP include Market Dojo and GEP Smart.

Market Dojo provides an e-sourcing solution to help companies in managing and optimizing their procurement selection process. Its features include portals to create online Request for Quotations (RFQs) with detailed questionnaires for suppliers. All responses are put through first a qualification process and then included in an online auction for secure bidding. Additionally auctions can take into account various assigned factors including price to indicate the best supplier. There is also a document management system with templates with secure messaging between buyers and suppliers as well.

FlexRFP on the other hand provides a collaboration platform to connect suppliers and buyers for bid review & supplier selection. While it supports the main features that Market Dojo addresses, it also allows suppliers to pre-quality for specific bids or register their interest to become a qualified supplier for future requirements.

In comparison GEP Smart incorporates analytic tools to evaluate suppliers against both organizational and industry bench marks to determine their qualification to bid. Additionally RFQs can be jointly created using a collaboration platform with support for workflow approvals, and auctions based on real- time bidding and review. Another point is that all bids are required to respond in standard formats to enable a quicker comparison and selection process.

While FlexRFP does not support these features currently, it does provide an option for soft auctions that allows bidding without selection to trial supplier responses. Additionally the product complies with regulations for transparency and secrecy with auctions subject to audits to reduce the scope for fraudulent decisions.

What is the cost of FlexRFP?

The cost of license starts at $3,000 per month. On top of the total cost of licenses which is easy to calculate - what is the REAL total cost of implementation? You need to add the cost of training, customization, data migration, and other "hidden cost". ITQlick pricing score is 4.8 out of 10 (10 is most expensive). You can find here the REAL total cost breakdown for FlexRFP. You can also find here pricing information from FlexRFP's website.

What should you ask EC Sourcing Group, Inc. during a demo session? (65 questions)

Schedule a demo with FlexRFP and access 65 must ask questions for the vendor while watching FlexRFP in action.

List of categories

Accounts Receivable
Project Collaboration
Self-Service Portal
Purchasing Management
Supplier Management
Contact management
Procurement
Vendor Management
Supply Chain
Strategic Sourcing

List of features

Collaboration
Sourcing & Procurement
Supplier Management
Vendor Maintained Profiles
Vendor Self Service
Contact Management
Contract Management

FlexRFP Vs. Alternatives

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Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.