Academic journal article ABA Banking Journal

Bid Management System Handles "Big-Ticket" RFPs

Academic journal article ABA Banking Journal

Bid Management System Handles "Big-Ticket" RFPs

Article excerpt

Bid Management is a new, hosted network from CapitalStream.com for RFP creation, contract negotiation, and loan processing to attract funding for the largest of the large. Web-enabled financial services, automated quoting and rate sheet selection, and credit application submission are no longer a fragmented series of processes but tamed into a unified organized workflow.

Launched to subscribers and funding sources last month, the online infrastructure lets brokers get an immediately deployable, hosted e-commerce solution without capital outlays or ongoing maintenance costs. Manufacturers, meanwhile, can be matched with financing sources best suited to their industry.

Working from a common base of digital forms greatly simplifies the process, says Capital Stream's president and CEO Stephen Campbell. "The process is relationship-based and so closely maps how business finance is conducted in the real world," he explains. The company is betting that private web marketplaces like Bid Management, versus portals or public hubs, to secure financing on complex deals from $2 to $25 million. …

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