Finding suppliers for a project can be tremendously difficult in a large enterprise, where the expectations of the different stakeholders must be balanced with numerous budgetary and compliance restrictions. It’s a challenge that Scout RFP Inc. has spent the last four years working to ease. 

The San Francisco-based startup is backed by $15.5 million in newly announced funding today from Menlo Ventures and New Enterprise Associates. Scout plans to spend the capital on expanding sales, marketing and development operations in a push that is expected to nearly double its workforce.

The firm’s efforts revolve around its namesake procurement service, which aims to automate many of the most time-consuming chores involved in managing suppliers. This includes communications first and foremost. Instead of compiling project specifications the old-fashioned way with email chains and spreadsheets, Scout RFP said, users of its platform can create an automated workflow for requesting information. They can then launch a bidding contest based on the specifications they collect from decision-makers to solicit supplier offers.

Once a project has been set in motion, Scout RFP provides the ability to track its progress through a visual dashboard that displays key business metrics. Users can compare overhead with any cost estimations prepared in advance and set up alerts to notify them of important developments. For added measure, the startup has included a dashboard featuring in its platform that makes it possible to turn project information into a visual report for easy sharing.

The logistical snags that Scout RFP can help avoid here and there have the potential to add up quickly across a large organization. According to the startup, 88 percent of customers realized savings within 30 days of signing up while seeing noticeable reductions in the amount of time it takes to plan procurement initiatives.  Notable adopters include Adobe Systems Inc., Amazon.com Inc.-owned Zappos.com and easyJet plc.

Image: Scout RFP