The tender process can be tedious and uncertain. Going into it blind — without a deep understanding of the market — can lead to sub-optimal results in your contracts.
Xeneta helps you visualize and understand the market so that you can set appropriate targets for your tender process.
Imagine that we make a plot of our contracted rates:
Our rates by themselves do not say very much. They could be good prices or bad prices, but without the context of the market we cannot make a meaningful adjustment to our procurement strategy.
However, we can take our very same rate data but visualize it together with the Xeneta market average.
Within the context of the market, it becomes clear that our rates from Supplier 1 were well above the market average for the majority of the past year. Only recently did market prices rise to the point where our contracted rates were below the market average price.
With Xeneta, you can upload multiple tender bids into the platform and compare them against both the market and your previous contracts. By understanding where the market currently sits, you can work towards bringing all your tenders to reasonable targets.