Adding a benchmark will give buyers comparison pricing for bids provided by suppliers, and provide a basis for calculating savings.

Benchmarks may be automatically imported from your company's ERP system. They can be determined in a variety of ways, including last price paid, average price paid over a certain time period, or the requisition/budget amount.

If benchmarks are not loaded as part of your draft RFQ creation process, you can add a benchmark to your RFQ while it is in Draft, Opened, or Closed status.

Note: If your bid is already open or closed, click Edit under the Actions menu.

Then, update the item benchmarks as desired.