ERFx


In procurement technology, ERFx is an acronym for Electronic Request For , where x can be Proposal, Quotation, Information or Tender. Other pseudonymous acronyms include ITT and PQQ. All relate to a similar activity: a buyer requesting information from potential suppliers for the purpose of evaluation and comparison. Often this is part of a tendering exercise. The more structured this information is, the easier it is to compare the suppliers. For example, it is more effective to ask 20 multiple choice questions than it is to ask 2 essay questions, as long as suppliers have an opportunity to provide commentary to qualify their answers. Therefore, eRFX software should help the buyer to compare suppliers in useful ways - apples vs. apples.
eRFx software is a subset of eSourcing software, which is in turn a subset of E-procurement software.

Common features

eRFX software is, in some respects, a subset of survey software in that it enables the user to create questions and solicit answers to those questions. Other features reflect the subtleties of tendering:
More advanced features include: