FAQ

1. What is CormSquare.com?

CormSquare is cloud based procurement platform targeted for small and medium enterprises (SMEs) and bulk purchases. CormSquare is native end-to-end procurement software with private market.

2. How do I use CormSquare.com?

You can manage your procurement from RFQ to PO. You can set up the digital product catalogues, send RFQs, set up purchases, e-Auctions and manage entire supplier communication on cloud. You can also generate various reports and analytics. You can collaborate with other buyers for demand aggregation, thereby reduced prices. Actual transaction happens outside the platform. CormSquare may be used to manage the procurement until supplier selection and release of purchase order.

3. Why CormSquare?

CormSquare automates your procurement process, greatly reducing time. It also helps find right suppliers at lower price. CormSquare saves procurement cost and ease of procurement.

4. How do I register?

You may register at www.cormsquare.com by filling a simple registration form. Registration will take few minutes and it is free..!!!!!

5. How much effort is required to setup CormSquare for my company?

You may start using CormSquare within minutes of registration and make first purchase in first half hour. You may require 4-8 hours to configure and personalize your product catalogues (those you buy), invite suppliers, set up email templates, contracts, terms and conditions etc provided you have information available in digital format.

6. How much does CormSquare cost for buyers?

It is absolutely FREE. No hidden charges. Register today and start saving. You may stop using CormSquare anytime and take back up of all your data from CormSquare.com .

7. Will CormSquare assure the authenticity of suppliers or products sold?

CormSquare is a private and neutral marketplace. You can set up and invite all your regular suppliers. You may choose to invite other suppliers as you deem suitable. You will also get competitive quotes from market. However, buyers are responsible for verifying the products and suppliers before placing the orders. Please, read terms and conditions before placing the order.

8. What are different ways I buy products in CormSquare?

You can buy through SmartPurchase, and eAuction. In SmartPurchase, you can send Request for Quote (RFQ) to your regular suppliers and to CormSquare marketplace. SmartPurchase takes only few minutes to setup. You will receive quotes, which you can compare and select. In eAuctions, you may setup reverse auctions, thereby enable dynamically determined price from invited suppliers.

9. How do I maintain digital catalogue of all products, I buy?

Your installation setup in cloud comes with number of default products based on your company category. These products are regularly updated by our admin. You may also ask your suppliers to create digital catalogues, which you may sync. You can browse marketplace products, review and import them.

10. What is buyer’s private market?

In traditional marketplace, buyers browse for suitable product, select and place order. In a buyer’s market, the reverse happens. Buyers post their requirements and invited suppliers may view and post their product offering and price. Buyers have to just compare and select a supplier.

11. How is the confidentiality of my purchases maintained while I purchase through collaboration?

In collaborated purchase at CormSquare, buyer’s identity is concealed. CormSquare advanced algorithms generate aggregated demand and post auto generated RFQs at marketplace. Invited suppliers get to see aggregated demand and are encouraged to quote lower prices due to increase purchase quantity. The benefit per buyer is recalculated proportionately and passed on to buyers. Buyers get the price hitherto accessible to only large companies, while suppliers get economy of scale advantage.

12. Is CormSquare secure?

CormSquare is highly secure. Entire application and data is stored on the cloud. Each company has isolated and highly secure database. CormSquare uses multi-tenant architecture with separate database and independent security program for each company.

13. Can I cancel the order after the Purchase Order is raised?

Your PO is governed by terms and conditions of your RFQ and supplier quote. Buyers and suppliers may independently agree on terms that are mutually acceptable.

14. What do I do if I am not satisfied with the product I have received?

As mentioned above, your order is governed by terms and conditions agreed between you and suppliers. CormSquare has built in contract templates that may help both buyers and suppliers to draft mutually agreeable contracts.