2Is Inc.

Decision Support Software > PriceEdge

Consistently and competitively generate market price estimates.

IHS Markit’s PriceEdge is a Software as a Service (SaaS) tool that aids buyer teams in bidding competitively in the context of the current market. PriceEdge uses available historical procurement data, material data, Bureau of Labor Statistics (BLS) data, learning curves, and proprietary data to generate price estimates for individual parts and for a batch of parts. PriceEdge increases buyer consistency in price reasonableness determination and supplier negotiations, reducing the time and cost required to prepare audit-ready awards.

PriceEdge supports two methods of generating market price estimates to be used in price reasonableness analysis, in accordance with FAR 15.404-1(b)(ii):

PriceEdge uses public and corporate procurement history data, technical characteristics data, and BLS data to generate price estimates for an individual part and for a batch of parts. Users may compare these price estimates to historical data to gain an initial understanding of how their estimates or supplier quotes compare to the price points dictated by the current market conditions.

PriceEdge also offers part details, a multi-engine web search that queries many search engines simultaneously, and a similarity search functionality to locate similar parts.

PriceEdge product inquiries should be directed to our Strategic Channel Partner, IHS Markit.

PriceEdge Same Part Pricing screenshot

Audited and registered to CMMI Level III standards

Audited and Registered to CMMI Level III Standards

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