Bryzos: Real Time Negotiation System

The Bryzos steel Marketplace continues to push the steel industry to evolve with the development of its “Bryzos Bid Blaster”. When contemplating how best to design the e-commerce platform, the Bryzos designers were, and still are, certain that its Users must be able to negotiate in real-time. Secondly, the transaction steps online had to imitate historic transaction steps. The platform had to feel familiar and secure.

With that framework in mind, the Bryzos designers identified the different steps involved in transacting steel.

Buyer creates and RFQ
Bill of material
Origin/mill restrictions
Shipping terms
Date the material is required
Buyer sends/emails that RFQ to the relevant vendors
Vendors quote the RFQ and remit to the Buyer
Buyer reviews quotes and:
Purchases, or;
Uses quotes to leverage better pricing from competing Vendors
Seller accepts terms or counters

Going through the exercise of creating this short list, the Bryzos designers were able to distill these steps down:

1. RFQ creation
2. Vendor matching
3. Original quote
4. Buyer acceptance or counter
5. Seller acceptance or counter
6. Purchase

The “Bryzos Bid Blaster” is all of the transaction steps rolled up into one feature. The power of the Blaster is simple. It allows Buyers to easily, and anonymously, create RFQs and negotiate them in real-time. For the Seller, the Bryzos matching system ensures that each vendor will only see inquiries that are relevant. In addition, the Seller will be invited to quote RFQs that he or she would otherwise not see. It will increase a Sellers activity.

As with all Bryzos advancements, the Blaster is serious about anonymity, security, efficiency, economy and results.

Bryzos expects the Blaster to be live in July of 2018.

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