Our Technology
Built over 10 years of development, FASTXchange's online procurement system connects thousands of buyers and suppliers. Our flexible and efficient system enables a near 100% fulfillment rate while optimizing requesters' delivery constraints and minimizing cost-of-goods and cost-per-transaction.

Buyers receive branded, customized web applications employing their company's look-and-feel, logos, data fields, terms and conditions and business rules. Users remain in control, with a real-time window into each step of the procurement activity.

Extensive automation of every step, from sourcing, quoting, and vendor selection, to order placement and management, produces dramatic reductions in procurement cycle times.

Automated smart sourcing optimizes both cost-of-goods and cost-of-transaction, while meeting users' delivery constraints. Smart sourcing automatically selects candidate suppliers by applying buyers' sourcing rules to our large existing set of suppliers and extensive sourcing history. Custom sourcing rules can be applied to each request, from a simple "best price" or "best delivery", to including preferences for individual suppliers, agreement suppliers, small or disadvantaged businesses and known qualified suppliers based on particular items.

Buyers' requests can be either split or merged into the optimal number of supplier orders to meet buyer and supplier constraints such as minimizing the number of orders, meeting supplier minimums, etc.

Multiple flexible APIs enable business partners to communicate using the technology they have available. Partners may communicate through FASTXchange via the web, XML messaging, EDI, flat-files, spreadsheets, text emails, and even facsimiles, with FASTXchange's system managing the translations. This enables partners to be as efficient as their infrastructure allows while not limiting the system's reach into the supply base.

The flexible APIs extend into the in-house systems arena, enabling customers' MRP, ERP, accounting and procurement systems to be seamlessly connected to FASTXchange if desired.

Finally FASTXchange's detailed electronic invoicing allows customers to allocate service fees directly back to GL accounts or cost centers as desired.

The result is one of the most robust procurement systems available today, capable of rapidly handling transactions from requisition to reconciliation.

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