Procurement tool includes purchase requisitions, purchase orders, goods receipts, and invoice processing. The primary concept of procurement is that advanced planning, scheduling, and group buying will result in cost savings, more efficient business operation, and therefore increased profitability. This procurement system is used to manage this process, providing turnaround time for invoices, tracking of total spending by commodity type, as well as financial commitments and cash flow management.
Minimize commodity risk – despite volatile market prices and increasingly stringent regulations – with Procurement system. This solution can help you better manage commodity buying and selling– while more effectively managing risk. Integrate your processes, facilitate collaboration, make smarter business decisions, and more.
Key Product Features of Procure System
• User Registration
• Any user can create procurement list in any category like IT, Computers etc.
• All users can see list of feed to put his own bid
• Dashboard for status of BID & procurement
• On line payment option
• Category wise subscriptions
• There will be Auction system on multiple BIDs or Manual Selection of winner
• Integrate and transform processes to reflect current best practices and market conditions
• Better understand the impact of commodity prices on purchasing and selling
• Get a consolidated, real-time view of commodity positions across lines of business
• Drive excellence across commodity procurement, sales, and risk management
• Streamline and automate procurement and sales to reduce errors and save time
• Generate procurement contracts with prices based on market based price quotes
• Save time and improve accuracy by automating price calculations
• Efficiently manage and reduce market risk arising from commodity price volatility
• Get a real-time view of consolidated physical and financial commodity positions
• Streamline treasury processes and reduce the resources required to execute