Specifications include, but are not limited to: Qualified firms to provide a web based eProcurement / Procure to Pay (“P2P”) system. The desired eProcurement / P2P System solution must be innovative, fully integrated, and well-coordinated to empower the University to achieve the following objectives and business outcomes that are organized around four Business Values: 1. Cost Savings: Over the lifecycle of the new Solution, it will: a. Streamline and standardize current manual, paper-based procurement, contracting, and purchasing processes and practices to shorten/compress cycle times. b. Increase use of University and State of Rhode Island contracts to gain greater economies of scale. c. Provide visibility into all University Departments on spend to enable Spend Analytics, Strategic Sourcing and more effective Contracting. Thereby transforming procurement from tactical activities to a strategic focus. d. Increase Vendor participation and competitiveness that drive finding the best possible product at the best value-point. e. Track and evaluate Vendor performance and aggregate University demand to negotiate and drive down contract pricing. f. Lower barriers to compete.
