Pre-Market Approvals are a functionality requiring Local Group Managers and Administrators to approve or decline a Buyer's RFx before they are posted to Suppliers.

The Super Admin or Local Group Administrator will be able to set Pre-Market Approvals based on selected RFx values for RFx's of specific Local Groups in your enterprise, or set custom thresholds for specific Buyers.

When enabled, Administrators/Managers must approve or decline requests posted by the Buyer in their Local Group where they select an RFx Value that requires approval.

These Administrators will have the following options regarding pre-market approvals:

• Approve the Request.
• Approve the Request but if subsequently edited, approval is again required.
• Decline the Request.

If a Request is declined, the Administrator will need to provide a reason why in a free-text entry field. This information is then relayed to the Buyer creating the RFx who then addresses the issue and resubmits the Request.

When a Buyer creates an RFx and they belong to a Local Group where pre-market approvals have been activated (and the RFx Value threshold has been set to require approval), the set manager of the Buyer will need to approve the Request before it is posted to Suppliers. They will be sent a notification to alert them of the request requiring approval. You can find instructions on how to view and update a Buyer's set manager here: Updating a Buyer's set Manager.

You can find information on how Admins/Managers can review and approve/decline requests here: Approving/Declining Requests.

If the Buyer's set manager is unavailable to approve a request, another admin may be able to impersonate their account to approve the request. The Super Admin user can impersonate all users. Local Group Administrators may be able to impersonate each other's accounts, and they will be able to impersonate a Local Group Manager if the Local Group Administrator is managing the local group.

Activating Pre-Market Approvals for a Local Group

The instructions below detail how you can set pre-market approvals against RFx values for a specific local group:

1. Select Local Groups and Users under the Admin Tools menu (either in the top menubar or on the homepage on the left-side menu).
   
   
   
   
2. Against the required list, click on the blue arrow icon to bring up the options. Select Edit local group.
   
   
   
   
3. Go to the RFx Settings section and under 'Setup RFX APPROVAL THRESHOLDS AND TRIGGERS' setting, click the Click to set thresholds link.
   
   
   
   
4. On the next page, you can set general 'Go to Market' approvals based on set RFx values (Buyers will set an Estimated Value on the RFx Budget tab in the Request Wizard when creating their request).
   
   Selecting the 'Yes' radio button on each RFx value will require approval when that value is selected. Selecting the 'No' radio button for an RFx value will mean the request is sent to suppliers immediately without approval when that value is selected.
   
   
   
   
5. Click on Save when finished.

Buyers in the Local Group that you have applied Pre-Market Approvals to will then be required to have their Request approved prior to the RFx being made available to Suppliers if the RFx value selected by the Buyer has been set to require approval.

Activating Pre-Market Approvals for a Specific Buyer

The instructions below detail how you can set pre-market approvals against RFx values for a specific local group:

1. Select Local Groups and Users under the Admin Tools menu (either in the top menubar or on the homepage on the left-side menu).
   
   
2. Against the local group the Buyer is registered to, click on the blue numbered button under the BUYERS column to view the buyers in that local group.
   
   
3. Click on the blue arrow to the right of the desired Buyer and select Manage RFx approval thresholds (custom) in the pop-up.
   
   
   
   
4. The same as above for setting at a Local Group level, set the approval threshold for each RFx Value for the specific buyer.
   
   
5. When finished, check the box against ENABLE these thresholds for this user? and then click on Save.

Setting Minimum Supplier Requirement by Value Threshold

You can add on approval triggers to set a minimum number of suppliers to be invited to a request, based on the expected dollar value against each Local Group. For more information on how to manage this please see here: Setting Minimum Supplier Requirement by RFx Value Threshold.