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Procurement Market Intelligence Report

Currency Counters
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Currency Counters?

What is the average price of Currency Counters?

This procurement report includes pricing information to help you purchase Currency Counters. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Currency Counters been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Currency Counters yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Currency Counters?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Currency Counters with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

There is a high level of market share concentration within the currency counter market, with the top four suppliers making up more than 50.0% of market revenue. The small number of currency counter manufacturers generate the majority of the market's revenue. However, there is a fairly large number of office... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Quality

How do you audit the quality of your currency counters?

What are your standards for testing currency counters' suitability for use?

What types of technical issues have you experienced with your currency counters in the past?

What life span can be expected of your products?

Can I test the machine prior to purchase?

Capacity & Features

Do your products come standard with the features I am requesting?

Are your products capable of being retrofitted to accommodate new currencies as they are updated?

Are there fees when upgrading a machine to accommodate new currencies as they change?

What additional features do your products offer that your competitors do not?

Warranty

How long does your standard warranty last? Are extended warranties available?

What limitations are there to the warranty coverage? How often are warranty claims made?

How long do repairs or replacements take, on average, following a warranty claim?

Are there any restocking, transportation or labor fees associated with warranty claims?

Supply Chain

How diversified is your supplier base for inputs? When input costs rise, are you able to source input materials from different suppliers?

How diversified is your client base? Which industries drive the most business for your firm?

How have fluctuations in input prices affected the prices of your product over the past three years?

How do you mitigate sudden price increases in raw materials?

Experience

How long have you served clients in my industry?

How long have you provided currency counters to your longest-tenured client?

What are some similar clients you have serviced?

Have you designed and built customized currency counters for larger buyers?

Customer Service

What is the rate of repeat business among your customers?

What do you do to track customer satisfaction?

How often do you seek feedback from clients, and how do you incorporate that feedback?

Do you offer 24/7 product support?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify what their budget is for the contract.

Buyers should specify a payment schedule. For example, buyers should state whether the winning bidder will be paid upon award of the contract or over a longer period of time.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for help creating a budget.

Selection Criteria

Buyers should look for vendors providing currency counters that meet the requirements of the RFP.

Buyers should look for vendors that have a well-established reputation in the market and that offer high-quality products.

Buyers should confirm that providers can offer products and services that fall within the desired budget outlined in the RFP.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should provide a timeline for the RFP and project, including the date when questions and amendments are due.

Buyers should include the date when contract proposals are due and when award information will be available.

Buyers should include the date by when machines should be delivered.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Currency counters have a medium level of supply chain risk. Currency counter manufacturers purchase electronic components, plastic and steel, all of which fluctuate in price at a moderate to a high degree. These goods are provided in part by petrochemical manufacturers and iron ore mining companies, which exposes currency counter... Subscribe to learn more.

HIGH

MEDIUM

LOW