Procurement Flashcards
What are the 4 services of OpenGov Procure?
1) Solicitation Development
2) Supplier Engagement
3) Evaluations & Awards
4) Contract management
Name the 3 things OpenGov Procurement does that matter the most:
1) Promote better collaboration, productivity and objectivity
2) Make it easy for suppliers to read, understand and respond
3) Guiding users with in-context Training and integrated live support
What is the Current/Before state (name 7) in the Procurement process and what are the consequences? ?
- Everything is PDF/paper copies, challenging to organize
- Manual labor heavy, spending time on formatting and numbering
- Difficult coordinating the set up of solicitations and evaluating proposals
- Constrained supplier network depending on fees paid to existing bid networks
- Bids are submitted by mail
- Questions submitted over email and mail
- Lack of central system/single source of truth
- Developing solicitations is disjoined, manual
- Struggle getting suppliers to respond and apply to solicitations
- Contracts are managed manually and lack transparency
What are three metrics/benefits of OpenGov Procure?
- 4x faster time to create and fill solicatations with centralized tool
- 3-4x increase in supplier responses received thanks to better engagement
- Ease of use
Name a key differentiator of OpenGov Procure vs BonFire
OG Pro is completely free for vendors
What is the name of OG Pro’s in-platform chat feature?
Intercom
What percentage of public dollars are spent through Procurement departments?
1/3
Name informal names used in place of Procurement…
- Sourcing
- “Purchasing” and “contract management” are used in Procurement, but also in Financials, so use judiciously.
What is OpenGov Procure’s Unique Selling Proposition?
The only complete cloud solution for solicitation development.
What are the key benefits of OpenGov Procure’s solicitation development?
- Transform your solicitation templates into intuitive, guided online workflows so project managers, reviewers and buyers can collaborate on key docs.
- Track project status throughout reviews, get insights into timelines, stakeholders and pipelines
- Communicate internally with in-line comments, alerts, notifications and workflow automation.
Name OG Pro’s Supplier Engagement features and their benefits
Shareable public project links: No more excel and paper scorecards
Vendor Analytics:
Funnel tracking:
One-click vendor submissions: Suppliers get streamlined, guided and online vendor proposal submission.
Name benefits for internal department customers
- Inline instructions and suggestions help department users navigate and understand what’s needed when contributing to strategic solicitations
- Users can access and edit RFPs from anywhere without sacrificing admin control
How will OpenGov Pro will seamlessly communicates with the ERP cloud for Gov
How does an individual go about requesting a purchase?
To purchase, individuals requesting to purchase something will fill out either a Requisitions or Departmental Purchase Order to request approval to purchase a good or service.
While the requester fills out their purchase order or requisition, they will perform a budget test to see if they have available budget to spend.
Approvals: The request is routed for approval based on thresholds and approvers sign off
Encumbrances: Once a purchase order is approved and created, an encumbrance will show up in the approved amount.
What are the 3 purchasing options in Core Financials?
1) Invoice Only: best for small orgs, limited staffs
2) Department PO: med sized orgs, no central buyer, POs done at departmental level
3) Full Procurement: Best for large orgs with centralized buyer that manages multiple departments.
