E-Procurement | Purchase-to-pay | SoftCo

By: SoftCo Group  05/12/2011

An inefficient procurement process can have far reaching effects across an organisation. Poor purchasing controls result in ad-hoc or maverick buying, excessive supplier costs and increased risk of fraud. Manual and paper based requisitions create approval delays, significant administration costs and poor visibility of the organisation’s true spending commitments.

SoftCo E-Procurement is a fully integrated solution that enables organisations to streamline their end-to-end procurement process. Automating even the most complex of procurement procedures and providing real-time reporting of entire spend, SoftCo
E-Procurement is a smarter, faster and safer solution for managing an organisations purchasing needs.

Smarter procurement

SoftCo E-Procurement addresses the shortcomings associated with manual or ad hoc procurement procedures by controlling the entire procurement process from a centrally managed workflow. Authorised employees are assigned roles and approval levels based upon their position and department, with full audit trails recording all electronic requisition activity within the organisation. Requisitions can be restricted to listed stock items or from pre-defined supplier catalogues with SoftCo E-Procurement providing powerful supplier management functionality to ensure that negotiated discount terms are applied to all purchases. The online procurement system provides dynamic reporting allowing finance departments to accurately account for an organisation's entire spending commitments, enabling improved visibility, compliance and better business decisions.

Faster procurement

Safer procurement

SoftCo E-Procurement improves the purchase-to-pay process by providing organisations with improved visibility and control of their procurement processes. Defined user roles and approval hierarchies ensure that each requisition request undergoes a defined level of scrutiny prior to its approval, with individual user approval limits configured ensuring budgetary control. The risk of fraud is removed by enforcing user authentication for each stage of the approvals process, with full audit logging allowing organisations to capture all requisition activity and store it on a compliant archive. Powerful in-built reports allow organisations to dynamically monitor each step of their entire procurement process, addressing problems quickly and efficiently.

E-Procurement: Key Benefits

  • Ensures competitive supplier pricing
  • Centrally manages your end-to-end procurement
  • Real-time visibility on reporting of your entire spend
  • Enables better business decisions
  • Simplifies purchase-to-pay procedures
  • Integrates with existing finance systems
  • Full auditability & traceability of all procurement
  • Control over ad-hoc or maverick buying
  • Meets compliance obligations with secure storage

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