Citrus and Noventia together

Citrus and Noventia together:

”More shoulder width to meet the increased demand and to take forward the product development”

PRESS RELEASE

Citrus Solutions Oy and Noventia Oy are accelerating their good growth by joining forces at the end of November 2020. Together we are able to offer a diverse range of digital solutions that streamline the processes of every organization.

Citrus and Noventia have signed an agreement in November in which Citrus has acquired the entire share capital of Noventia. Noventia’s solution for eSourcing, Supplier Management and Contract Management are an excellent complement to Citrus’ Legal Tech service portfolio as well as its strong software development and product expertise.

– Citrus Legal Tech services provide concrete tools that help companies to effectively manage their day-to-day legal and administrative functions. Noventia’s expertise provides our customers new opportunities in supplier management and sourcing, says Citrus’ CEO Saara Perho.

Both companies report that high targets in growth have accelerated the decision to merge. For several years Noventia has grown at an annual rate of 20-30% and the Citrus Legal Tech with the annual rate of 20%.

– As a wider range of services is combined with technological development, the outlook is very positive. We aim towards strong growth in the future by expanding the sales of Legal Tech services, says Perho.

 

Efficiency drives companies

Interest in digital legal tools is constantly growing. Organizations are looking for solutions that make it easier to perform complex and repetitive tasks and are suitable for remote working. Also in the area of sourcing the demand for smart and cost-effective tools has increased rapidly.

– Noventia’s solution for Sourcing and Supplier management offers a platform for modern sourcing organizations to manage all supplier related information. The tools help in running the sourcing tasks and create efficiency in the every-day routines. The products of Noventia and Citrus have many synergies. Together we are able to offer more versatile contract management solutions to our customers and much more. By combining our strengths we are gaining more shoulder width to meet the increased demand and are able to take the product development forward strongly, says Managing Director of Noventia, Sanni Laine-Luoto.

 

Together we serve better

From now on Noventia will continue as a subsidiary of Citrus and the current contact persons will continue working with the customers.

There are many benefits to our customers:

  • New solutions for eSourcing, Supplier Management and Contract Management for sourcing and procurement professionals.
  • Legal Tech tools for legal experts, e.g.  digital management of contracts, processes and data protection.
  • New opportunities for partners to cooperate.
  • Customized products for different needs.
  • Additional muscles to create new and develop old.
  • Stronger expertise.

 

More information:

Saara Perho

CEO, Citrus Solutions

saara.perho@citrus.fi

+358 40 068 6905

 

Sanni Laine-Luoto

Managing Director, Noventia

sanni.laine-luoto@noventia.fi

+358 1023 90053

 

 

Save time with efficient tendering

Save time with efficient tendering

 

“Typically the most time consuming part is going manually trough the suppliers’ proposals and trying to find the accurate data for comparisons.” 

 

It is quite easy to see which part of a tendering process is the the bottleneck. Usually it is not the preparation phase – a company is typically well capable of producing the required material and specs –  nor is it the suppliers – almost always they do meet the quotation deadlines. Typically the most time consuming part is going manually through the suppliers’ proposals and trying to find the accurate data for comparisons.

 

But the job needs to be done, no matter if there is just one or ten different suppliers, or if you are sourcing for just one raw material or even thousands of items.

 

  • What if the supplier has changed the order of the items listed in the tender? 
  • Have any of the items been removed or the given volumes updated?
  • How about the calculation formulas – are we absolutely sure they have not been changed?

 

Enormous amount of matters to check manually and only after this inevitable part, we are at the point where it is possible to start the actual comparison work.

 

“The eSourcing tool makes sure, that both the pricing as well as the other proposal data is gathered precisely in the format the buyer is requesting.”

 

When a buyer is using Noventia eSourcing tool in the tendering process, the manual steps described above are taken care of by the solution. The eSourcing tool makes sure, that both the pricing as well as the other proposal data is gathered precisely in the format the buyer is requesting. Very often this is commented positively by suppliers, as it is easy also for them to see what kind of information the buyer requires from them.

 

After the suppliers’ tendering deadline the eSourcing tool creates automatic comparisons of the received proposals for the buyer. All the gathered information is immediately side by side for the buyer to start the comparison work. There are advanced price analysis tools ready to be used, so there is no need to build calculation formulas and comparison templates manually. Also comparing the received quotations with the current prices is available.

 

Noventia eSourcing tool helps the buyer to focus on what is essential in their own tendering cases. Regardless of the amount of items or the number of participating suppliers, the solution saves both time and and effort in the every-day-work.

 

Customer experience: eRFx in tendering project

In the latest blog, we hear about our customer’s experiences with indirect procurement tendering.

Background information

“The framework agreement for IT equipment used by our staff was coming to an end, so it was time to start exploring the options. The current supplier was seen as a good option, but as the industry develops rapidly, we wanted to search a benchmark also from other candidates.

The first connection with the companies was video meetings, as suitable for these times. In the meetings we covered our requirements and preliminary needs. All the companies confirmed their willingness to take part in the competition.”

Starting the negotiations

“The RFP was carried out with Noventia’s e-tool. Based on the supplier meetings, we made some adjustments in the RFP specifications and estimated volumes (based on the current agreement). We also wanted to share our company’s general procurement terms & conditions to the suppliers as a basis for contract negotiations.

The suppliers gave their proposals presenting the requested equipment and gave their first offers regarding pricing. Our aim was to get the prices already at this point in order to make sure that the equipment from different manufacturers was technically at the same level and comparable for us.

The suppliers had two weeks time to submit their responses and all of the participants met the deadline perfectly. The e-tool made it possible for us to follow the RFP progress and we were able to see that all of the suppliers had started working on the proposals in good time. After the deadline, the automatic summaries of the answers were available in the tool for further analysis.”

 

Specifications and a second pricing round

“After the first proposals, we wanted to get some clarifications in some of the responses. We gave feedback to each supplier individually and instructed them to make corrections directly to the e-tool. Some parts of the RFP, that were already ok based on the first round, were locked from suppliers. Only sections requiring more information or corrections, were left open. We had also received some questions from the suppliers and shared our answers to the questions (mainly technical details about the RFP scope) using the e-tool.

One of the participants was left out at this point, since the offered products did not meet the requirements. We had three genuinely potential suppliers left, and a fourth option that seemed to be quite far from the others regarding the pricing, but otherwise seemed interesting. 

On the first round we had already confirmed the important fundaments (contract terms, product compliance with specs, etc.) for the RFP. Now we wanted to have another round for the suppliers to check their price levels. From the sourcing team’s point of view, this was a very simple operation – again all other RFP sections were locked from editing. The participants were able to update pricing for the products they had previously presented. This was a short round with only two days to respond.”

 

Price comparisons and supplier selection

“We had good results on the second round as the previously surprisingly large price difference was now significantly smaller. Now the suppliers’ proposals were rather close to each other. The new suppliers showed good potential in certain items in our comparison, but in the end we wanted to renew our contract with the current supplier. The current supplier had an advantage of knowing our company’s needs and way of working. Also the good feedback from inside our company was considered as an advantage for the supplier. Compared to the previous contract, we were now able to achieve great savings  (however, the result is not fully comparable, as the new contract is negotiated with new generation equipment).

The e-tool made it easier to run the RFP and to manage the material during the project. After the RFP rounds the tool helped with automated comparisons and removed the risk of manual errors. A lot of time was saved as we were able to focus on the actual supplier comparison instead of copy/pasting the proposals side by side, one by one.”​

Supplier evaluation tool helps in supplier management

Supplier evaluation tool helps in supplier management

 

Supplier evaluation is an essential part of many sourcing organization’s supply chain management. The supplier may be evaluated, for example, based on their quality, accuracy on deliveries or development capabilities. Sometimes a supplier may be evaluated on a numerical scale and sometimes it is more important to collect open feedback or development ideas in order to develop the cooperation with the supplier.

Regardless of whether the evaluation is done on a jointly agreed structured score card, or ideas collected randomly on a piece of paper, the challenges are often the same.

  • It is difficult to generate evaluation data if the experts who should give their own evaluations do not know who they should evaluate, by what indicators, and when and where the evaluation data should be provided.
  • The person responsible for supplier collaboration (e.g., category manager) should be able to form the most comprehensive picture possible of the supplier’s performance, but if data is not available, the overall picture is based only on his or her own perception.
  • The more evaluation data can be collected, the more reliable the results can be considered.
  • On the other hand, a positive problem also arises from the fact that the more data is collected, the more work there is to process it.
  • Reporting is often laborious and prone to manual processing errors.

Supplier evaluation tool allows you to create company specific evaluation templates. Templates can be made for a different purposes, but in a nutshell, your team has mutually agreed evaluation criteria available whenever needed.

For persons responsible for submitting the evaluations, supplier evaluation tool is a place where you can clearly see all your own evaluations and their schedules. You will be notified via email when there is a request for new evaluation and the answers will be given directly to the tool – no more Excel files per email.

It is easy for the person in charge of supplier evaluation to follow the progress of the evaluation and, for example, to remind respondents who have not yet given their own evaluations. There can be one or ten respondents, but regardless of the number, all evaluations are stored in the same place and always in the requested format. The summaries are automatic and available immediately after the end of the response time.

Old evaluation results are automatically saved in the supplier’s profile, and when the same supplier has been evaluated two or more times, the report can also be used to monitor the supplier’s performance over time. If desired, the information in the report can also be shared directly with the supplier, for example in mutual development meetings.

Getting started with the supplier evaluation tool is very easy: if you already have some sort of supplier score card, you can transfer its evaluation metrics directly to the electronic tool. If evaluation criteria or questions have not yet been considered, Noventia experts will be happy to help build the first evaluation templates.

After this, it is time to open the first supplier evaluations!

Supply Chain Management With Supplier Questionnaires

So much to do, so little time

A lot happens all around the world nowadays. Some changes are smaller, some larger but they all might have an effect on the companies’ supply chains. The number of suppliers is often large and the supply chain can be long and complex.

When something exceptional happens, how to ensure the supply chain will continue to deliver normally also tomorrow?

The most urgent confirmation from the key-suppliers is still received probably over the phone. A phone call is a quick way to check the situation and to ensure the continuity with one or just a few suppliers. However it’s not very convenient to contact all the suppliers by calling.

It is also possible to email the questions but even that will not ensure that the answers are gathered in an organized way and in the desired format. The buyer can try to update an Excel file on who has answered but sharing the up-to-date information within the organization takes time and is not very agile.

Did everyone get the message? Who had already answered? Someone was missing most of the answers but which company was that again?

By using Noventia’s eSourcing solution for supplier management, you create your company’s own supplier database. In the database you can find your supplier companies organized by your own sourcing categories and other important classifications. A supplier profile contains the company’s important basic information and the contact details to the relevant contact persons.

With the Supplier Questionnaire tool it is possible to gather any type of data from the supplier companies regarding themselves and their operations.

Supplier questionnaires are commonly used to gather basic information about the companies, ensuring certificates and finding out the supplier’s stability and continuity plans. With the tool it is also possible to find out the assets of any new potential supplier candidates. The Supplier Questionnaire is very easy to build up to meet the needs in each case.

With the Supplier Questionnaire tool it is possible to gather information from 1, 10 or 50 suppliers without extra work. The suppliers submit their answers to you using the cloud-based tool. At all times you can easily see who has already answered and who might need another reminder.

As the tool is used over the Internet, all the members of your sourcing team can have access to the data available. Everyone can login to the tool and see the situation with the suppliers.

The tool supports comprehensive supply chain management. You can still call your key-suppliers but at the same time you are able to manage also their data more easily and with better control.

Using the tool does not require a long implementation project. It is vert easy and fast to get started. Contact Noventia Support – we are happy to tell more!

How eSourcing enhances remote work

How eSourcing enhances remote work

Noventia eSourcing solution is an efficient platform for managing the strategic sourcing tasks. The solution allows working remotely and creates possibilities for great team work. 

Any work tasks run with the eSourcing solution can be performed anytime, anywhere. As long as there is an Internet connection available, the job can be taken care of also remotely. The solution is a joint workspace for the sourcing team allowing all the members to access their current work.

eRFx

  • The RFP/RFQ/RFI material is prepared within the solution and all the team members are able to participate the process from their own workstations. Once the RFx is finalized, the suppliers are invited to login and an submit their proposals. As all the suppliers’ answers are gathered online, also the automatic summaries and comparisons will be available in the solution for the buyer users.

eAuction

  • The suppliers are able to place their best bids in an online price negotiation. Before the live negotiation is launched, the buyer has defined the exact scope and terms for the event. If the situation in the market changes, the suppliers are able to react. The buyer is able to monitor the bidding in real time and can confirm the results after the negotiation has ended.

eContract management

  • The agreement finalized with the chosen supplier can be saved in the supplier’s company profile. The sourcing team has visibility to the supplier’s contract status and background. Automated reminders help in staying up to date with the current contract situation. Clear reporting gives a transparent picture of the full contract archive.

eSupplier questionnaire

  • Any important data can be gathered easily and effectively from the supplier companies. Insurance status, ethical, social and environmental topics and for example information on the company’s business continuity plans are gathered, evaluated and saved in the company profile. All the data is available to the sourcing team for supply chain management purposes.

eSupplier evaluation

  • A supplier company can be evaluated according to a pre-determined supplier evaluation score card. Each stakeholders’ opinion on the supplier’s service level, quality and for example delivery capability, can easily be gathered with the tool. All the evaluation data is in the requested format, always available and can be reported easily.

 

Noventia eSourcing solution is a platform for all of these strategic sourcing activities. The solution gives tools for managing the supplier relationship even when the traditional ways of working are not effective or possible. As the data is available in the sourcing team’s joint online workspace, the work can be completed anywhere.

The solution allows flexible team work. Whenever needed, the tool allows to help colleagues during their possible absence with their sourcing projects and supplier management activities. With the help of efficient eSourcing tools, the strategic sourcing work can be continued, even during this exceptional period of time.

Comparing the quotations

Comparing the quotations – easy or not?

Once the tendering process has reached the point where the participating suppliers have submitted their proposals, it is time for the job that requires a lot of precision and contains a lot of work: the buyer must create a summary of all the quotes for comparison and analysis. All the line items from different suppliers should be compared side by side and at the same time, the buyer must ensure that the suppliers have quoted on the requested products or services.

Simple comparison on unit prices does not really help in comparing the total costs. Also the volumes need to be taken into account in the calculations. And before the final comparison, all the formulas need to be double-checked – important purchasing decisions need to be made based on real facts.

Wouldn’t it be nice if all the quotes could be automatically compared in the requested order after the RFx closing time?

eRFx enables collecting all the quotes as requested and all the line-items in the right order. When the eRFx tool is used for collecting the quotes, the comparison and summaries are automatic. There are ready-made analysis options available – no need to create the calculations manually.

In the price analysis tool there are a lot of features. Analysis enables comparing the coverage of the quote, which shows automatically whether the suppliers can be directly compared or have they placed inadequate quotes. The price deviation highlights the line-items, where there is a great difference in quotes. This enables spotting the pricing errors, such as using wrong currency or quoting on a wrong purchasing unit.

Analysis enables also various comparative perspectives. Comparison can be for example based on the total volume or focusing only on the line-items where most of the spend is allocated.

Quite often also other elements need to be taken into account, such as freight, cost of choosing a new supplier or simply discount percentages on the quoted prices. The analysis tool enables taking all the other elements into account, which ensures that the comparison is based on the total costs.

There are different analysis versions available for different needs: the simplest analysis can be used as a starting point and the more versatile versions offer a lot of data to support the decision-making. 

Noventia’s team is happy to organize a demo on the analysis features. Save time and start today!