Adding a benchmark will give buyers comparison pricing for bids provided by vendors, and provide a basis for calculating savings.
Benchmarks may be automatically imported from a file exported from your company's ERP system or pre-filled by Fairmarkit. 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 a Draft or Open status.
In Draft, click the Item Benchmark box to display the field.
Then fill in your benchmark.
Note: If your bid is already open, click Edit
Then, make sure the Item Benchmark box is checked and enter in the desired values.