Procurement
Overview
Driving relevant, efficient, timely, and compliant standard or fast-tracked procurement processes, through your approved suppliers, will not only facilitate savings but will also ensure that all related transactional flow activities are kept transparent, during your Procure to Pay cycles. Our process flows can leverage mobility to enable faster approval reviews, with full compliance being achieved by using either simple or complex routing workflows that can be varied to include multiple parties based on seniority, amounts involved, or type of product. Supplier risk management can also be undertaken through a full understanding of other historical operational matrices, such as the number of providers for a particular item, quality of product, and past performance in the timely delivery of ordered goods.
Benefits
- Supports stock, non-stock, and service-based orders
- Enables management of sourced (RFQ), non-sourced, and of catalog items
- Facilitates automation of Accounts Payable with visibility and compliance
- Provides history for improved volume discount contract negotiations
- Facilitates supplier rationalization based on performance history
- Provides the ability to define preferred suppliers based on granular information
- Supports staff self-service
- Helps identify duplicate transactions and unusual patterns relating to the number of invoices compare with the number of purchase orders
- Provides for e-banking settlement
- Optionally supports encumbrance accounting
Features
- Simple and complex workflows for expenses and procurement
- Payables reconciliation, actual compare with planned expenditure and accruals
- Powerful analytics and reporting capabilities
- Facilitates understanding relating to cash flow impacts
- Supplier scorecards
- Preferred supplier management i.e. location, experience, performance & payment history
- Aggregates purchase requisitions to leverage preferred suppliers
- Embeds your standard terms and conditions
- Allows for the update of Inventory and Fixed Assets
- Supports appended multi-media files