Our Process
Flexible, highly reliable and universally compatible, FASTXchange's online procurement system is designed to help firms achieve dramatic reductions in the costs and inefficiencies of sourcing thousands of inexpensive but difficult to locate goods and services. Our process works as follows:

Submission of Request
The process begins when a request for goods is submitted, either via an easy-to-use, customizable online form or data feed from a purchasing or enterprise resource planning system.

Sourcing of Product
After the data is validated, our system submits RFQs to the customers' approved and preferred vendors. If items cannot be found via these sources, RFQs are issued to the most attractive vendors in our "open universe" of suppliers.

Based on the user's predetermined business rules, a vendor is selected. The FASTXchange system then automatically generates a purchase order to that vendor.

Completion of Transaction
Once the transaction is complete, the purchase order is uploaded into the customer's internal system. FASTXchange also provides a detailed monthly reconciliation, allowing customers to identify the internal project, contract or department responsible for the order.

The result is a simple, high-speed and enormously efficient system for sourcing parts and components.

View the FASTXchange process flowchart or contact us for an online demo.