E-Procurement
E procurement – facilitate the purchasing of goods and services process through online platforms and integrates suppliers and buyers in a seamless digital environment.
Overview
It automates several procurement processes, including purchase requisitions, orders, and invoicing. As a result, businesses can gain better control over their purchasing activities, reduce paperwork, and improve procurement efficiency not only save time and money but also improve collaboration and transparency across the supply chain. Key capabilities include:
- Supplier Evaluation and Rating: Features that allow businesses to assess supplier performance based on factors like quality, reliability, and price.
- Contract Management: The ability to manage contracts and track their expiration dates, amendments, and renewals.
- Automated Purchase Order Generation: The system should automatically create purchase orders based on inventory levels or demand.
- Order Approval Workflow: Ensures that purchase orders are approved by the right individuals before submission.
- Order Tracking: Allows you to track the status of orders, ensuring timely delivery and fulfilment.
- Supplier Portal: Allows suppliers to access and interact with the procurement system. This feature enhances communication and collaboration between buyers and suppliers.
- Order Visibility: Suppliers can see their order history, payments, and status updates in real time.
- Document Uploads: Suppliers can upload necessary documents such as invoices, certificates, and delivery notes.
- Communication Tools: A messaging system that allows suppliers to communicate directly with procurement teams.