Frequently Asked Questions

 

 

 

We run all of our RFX management internally, what can TradingPartners offer?

You probably invest a great deal of time coordinating the RFX process, going back and forth with suppliers over several weeks or months. However, TradingPartners places the suppliers in a format where they are all bidding against each other simultaneously in our eAuction platform. The suppliers create the market place, instead of you. We nurture our supplier base on an on-going basis, and we repeatedly go back to the same suppliers who have a proven track record of a strong performance.

Our clients are diverse in nature, but have many similarities especially in regards to their indirect expenditure. As our business grows, it allows TradingPartners to bring best practices learned from similar environments.

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Why can’t we just do this ourselves?

There are DIY and off-the-shelf software applications available. However, if you're looking to achieve immediate savings results and extent the capabilities of your current team without the hassle of costly new software, ongoing staff training, technical support or reallocation of resources, TradingPartners can help. We bring valuable expertise and resources to each project, enhancing the existing power of your  team, so your time and budget are freed up for more strategic endeavors.
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How long does the typical process take and how much time will it require of my team?

The beauty of TradingPartners’ fully-managed process is that it doesn’t mean any more time or additional work for you or your team. Our projects average four to eight weeks from start to finish and we work alongside your procurement team – no matter how large or small that team may be – to gather spend data, identify suppliers, work out a strategy and run the eAuction.
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How do I know you will have the category expertise to meet my company's needs?

We don’t know your company like you do, but we have the relevant procurement experience necessary to understand your company's needs and align those with a strategy for eAuction success. We are dedicated to hiring top talent in the purchasing industry. Our process, combined with our employees provides significant value and savings, while your internal team provides the company knowledge and category expertise.
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Won't eAuctions damage the relationships I currently have with my suppliers?

We don’t mandate or choose the supplier, you do. Our job is to help uncover all of your concerns and specifications so that we can get the right suppliers involved to bid for your business.  Our RFP process is tailored to your needs. Making sure the RFP includes your expectations around service and quality is imperative.  Prior to the bid you are able to review the documents, references provided or any additional information you requested during the process.  We help you with the initial tendering process, eliminating weeks of leg work then we facilitate the eAuction which acts as the negotiating table.  At the completion of the auction, private sector businesses can take negotiations further with as little or as many participating suppliers as they wish.
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How can I be sure that you can provide the quality I’m looking for?

TradingPartners are the market leaders in fully-managed eAuctions.  We have been working with some of the top private and public sector businesses in the world since 2001 who demand nothing but top quality and we pride ourselves on providing exactly that. We have a global team of Supply Managers who are dedicated to identifying, qualifying and conditioning suppliers to ensure that they meet each client’s unique specifications. Additionally, we maintain an internal database of more than 40,000 qualified suppliers around the world.

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Are eAuctions ethical?

As a fairly new operational tool, eAuctions have come under some scrutiny. However, the last decade has proven
eAuctions are a highly effective way of procuring indirect and direct goods and services. There are no ethical issues associated with eAuctions, in fact they influence genuine competition, real market prices and fair trading amongst globally competing businesses.
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What are your fees?

Each eAuction project is considered on a case-by-case basis.  Usually it depends on the category difficulty, timings, manpower and other external factors.  Fee structure is centered around contingent arrangements suited to the unique needs of our clients.
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What are your terms of use?

Please refer to our Privacy Agreement & Terms of Use.
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Founded: 2001

Headquarters:
Chicago
London
Shanghai

Offering: TradingPartners enhances and accelerates negotiations between buyers and suppliers using a fully-managed eAuction solution. Read more in What We Do.

Pricing: Our fees are contingent upon delivery. We don't get paid unless we save money for the client. We share the risk. which means savings are guaranteed.

Financials: Privately held and backed by investments from Kennet.

AT A GLANCE