No cost to buyers. There is no set up fee for buyers to register to use RigSupplies.com, and no transaction fees. In a few easy steps buyers can register on line and then apply to purchase from suppliers on the site.

Saves time and money. Generating quotes for large, expensive projects can often take days and weeks using phone or fax. RigSupplies.com takes a 29-step procurement process and turns it into a 3-step process, saving your company both time and money. For example, buyers can generate a list of 100 items that can instantly be submitted to multiple suppliers. Buyers do not have to send individual RFQ’s to separate suppliers as they would in quoting or buying by phone or fax.

The old process 100 items divided by 10 different types of suppliers, times 2 prices equates to 20 different quotes. With 20 different quotes on 20 separate documents it makes it difficult for buyers to analyze the information effectively.

The new process 100 items go to 10 different types of suppliers, times 2 prices equates to one quote, on one screen. Buyers can also store this 100-item list in a folder for later retrieval, saving incredible amounts of time.

Easy to use, built for speed. Using the RFQ Quick Select, buyers can create and submit RFQs to multiple suppliers in seconds. Buyers can also submit direct purchases to individual suppliers using an easy point-and-click process.

Streamlines Data Flow. RigSupplies.com features the ability to generate standardized electronic purchase orders and invoices. By using a standardized Master Tracking Document (MTD) both buyers and suppliers can easily track purchases and the flow of information following any transaction.

Trackability. RigSupplies.com electronic reporting enables buyers to track purchases for specific products, locations, invoices or purchase orders. This means consistent up-to-date financial data on all transactions and an end to messy month end financial reporting. Purchasing patterns can also provide key information that affects future buying decisions.

Anti-theft. With its powerful reporting capabilities, companies can instantly determine inefficient use of products purchased. For example, if one division or location of the company is purchasing significantly more than another, management will be able to determine instantly those discrepancies using RigSupplies’ reporting system.

Security. RigSupplies does not store mission critical data as it relies on a central database of product descriptions and not on live inventories and pricing. The site also features robust technology and employs 128-bit encryption for security purposes.

Supplier Benefits

Easy set up. Suppliers can register to RigSupplies.com in a few easy steps. The web site features a common Materials List of oil and gas related products. Suppliers use the Materials List to indicate product descriptions they carry. Suppliers do not need to upload static pricing information, product descriptions or inventories to receive quotes and/or direct purchases from their buyers. If the site does not currently carry your products, RigSupplies.com will create the descriptions at no additional charge.

Enhance existing relationships. RigSupplies.com is designed to improve the procurement process and not affect existing business relationships. That’s why RigSupplies.com empowers suppliers to choose which products they carry and which buyers they want to deal with. Buyers can also submit direct purchases to suppliers through the site.

A tireless sales team. RigSupplies.com provides suppliers with a commissioned salesperson on a 24/7 basis, 365 days a year. For small to mid sized companies RigSupplies.com offers the opportunity to bid on more projects.

Low maintenance, excellent affordability. Once registered with RigSupplies.com, suppliers pay no on-going costs associated with being in the marketplace, and pay only a small 3% commission on sales generated through the site. Suppliers can receive RFQs on any product they carry with virtually no maintenance since uploading static pricing, product descriptions, skus and inventory levels is not required.

Streamlines payment process. RigSupplies.com uses a common method for generating electronic purchase orders and invoices. This provides both suppliers and buyers the ability to streamline the end-to-end procurement process, thus shortening payment cycles and eliminating disputed invoices.

Security. RigSupplies.com is a secure, web based application, that does not require registered companies to download and install complex software. Suppliers can participate without having to upload mission critical data such as pricing, descriptions and inventories. The site also employs 128-bit encryption for secure transmission of information.