Effective cost reduction lever
Trinity cloud platform has proven to reduce cost and block price increase from suppliers. The platform creates a factual and real time environment that put market pressure on bidders. Bidders know what is the current market benchmark price and how far is their price from the lowest price.
Reduce negotiation time spent with suppliers
Trinity cloud platform can open and close a market in minutes depending on the organizer settings. This results in substantial reduction in time spent on price negotiation. It frees up buyer time to spend on other more important issues. Price negotiations may be emotional and physical taxing. With Trinity cloud platform, such challenges are minimized in a objective and neutral setting. Not only does Trinity platform help reduce protracted negotiations but also emotional and physical issues associated with negotiations.
Provide greater transparency in procurement process
All logins and bids are recorded and leave a trail on the platform. The platform can generate reports to show who has enter the system and left at what time. Supplier bids are recorded by time and by name so there is a record of all bids entered during each market event. Such records and reports provide transparency in the procurement process from start till market ends. After the market ends, the platform can run business analytics on all bids submitted for greater transperency.
Create a competitive market environment
Once a market event is open, bidders are aware of the market opening price and time left before the market closes. The supplier has to ensure that his winning bid is entered before market closes. The system will not allow a bidder to submit a price that is higher or lower than the current market leading benchmark price- depending on organizer settings. The system will prompt the bidder regularly to remind bidder of time left on the market and if he is still in the race or not. Sometimes, the system will limit the number of bids each supplier can entered- depending on organizer setting. Our research has shown that once supplier knows he has a limited number of bids he can enter, he is more careful in using each of his bid chances. The supplier is under pressure to submit a winning bid that is allowed by the system and before market closed.
Flexible usage plans for immediate returns
To use Trinity effective and powerful platform to reduce business time and cost, there is no need for additional hardware or capital investment. Trinity provides the license, training and all the technical requirements to clients to use the cloud platform. Besides, Trinity offers flexible price plans to suit all types of enterprise. You simply select what you need to use and pay for what you select. There are no hidden charges or cost upfront. You decide and pay for what you use; giving you immediate returns for using Trinity platform.
Standardize procurement process
Trinity cloud bidding and procurement platform cuts across locations and geography. Each client will have it’s own private secure marketplace and cloud space accessible anywhere anytime (so long there is web access) by client users only. Client business unit will use a process that other business units are aware of how to operate and support exchange of ideas or common procurement. This standardized and common procurement platform may leverage synergies across different business units with common procurement needs.