The competitive market structure has dynamic functions. Competition encourages technological development. The reason for this is that technological development plays a key role in achieving the preferred position by companies. In addition, its competitive market structure encourages companies to constantly adapt their competitive powers to market conditions.
The most important factor in competition is the price, but at the same time how fast the price plays a major role in the leaders of competitors. In many sectors, customers share documents explaining their needs while requesting prices to their suppliers. These documents are called RFQ (Request for Quotation), a document used for information or services from sellers and suppliers for goods or services. RFQ documents include detailed features of what a company needs a company such as technical requirements, the duration of the contract, the required labor or amount of goods. Once the RFQs have been created by the supply company, they are sent to the potential sellers that the company wants to work with. Companies can select the best seller for their requirements after receiving these price offers.
As a result of the researches; 500 RFQ documents are sent annually to an average supplier. Considering that there is a working day of 260 days per year, 1.9 RFQ document decreases every day. In order to give the customers the most appropriate price, the companies should examine each detail of the requirements and features requested by the customers with great care and when the review of the same or similar works done before and the compatibility of the previously done, the response time of 1 RFQ weaving according to the researches is 2 weeks. Considering these periods, the ratio of the companies’ conversion to sales of companies into sales was calculated as 19 %.
Using new technologies, most of the time spent for examination and comparison of RFQ documents can be prevented. With the optical character recognition (OCR) technology and NLP (Natural Language Processing), the documents containing hundreds of paragraphs and pictures within the documents coming from customers can be categorized, associated and easily categorized, associated and accelerated the tendering time of companies. OCR (Optical Character Recognition) is a technology that allows you to convert document types such as scanned paper documents, PDF files or pictures taken with digital camera to arranged and searched data. OCR, selecting and separating the letters in the pictures by making words and words from the words.