Manage the complete source to pay process, with less cost and complexity than running a standalone system. Our solution lets you make the best possible procurement decisions by helping you better understand your sourcing needs, select the best suppliers, create and manage contracts, and execute against those contracts to maximize savings and profitability.
- Strengthen source to contract processes through enhanced strategic planning, risk management, supplier evaluation and contract development
- Execute against all procure to pay processes to reduce maverick spend and increase volumes with preferred suppliers
- Cut costs and risk by forging closer, more collaborative supplier and sub-contractor relationships
Features
BRING SUPPLIER SOURCING AND CONTRACT DEVELOPMENT UNDER CONTROL
Strengthen source to contract processes in your organization with enhanced strategic planning, supplier evaluation and contract development.
- Identify potential savings and improve processes through strategic planning. Our solution lets you analyze different spend views and hierarchies to successfully pinpoint who is buying what within your organization, the prices they’re paying, the vendors being used and the rate of maverick buying.
- Reduce risk and improve profitability with supplier evaluation. Select suppliers based on solid benchmarks, such as capability, quality and price.
- Gain a unified view of terms and conditions through our contract development capabilities. Watch adoption levels of your downstream procurement processes rise when you give everyone a single, trusted view of agreements, catalogs and prices.
BUY INTO RISK MANAGEMENT—ACROSS YOUR ENTIRE SOURCE TO PAY PROCESS
- Capitalize on a central risk register. By updating and assessing the shared register on an ongoing basis, risk management becomes rooted in your operational processes and decision making.
- Stay on top of market risks. For instance, our solution lets you assess the material risk inherent in the supply chain from trade policy, supplier viability and global/localized scarcity.
EXECUTE COMPLEX SUB-CONTRACTS: FROM WORK INSTRUCTION TO PAYMENT FOR WORK DONE
- Issue sub-contract work instructions and measure work done against scope and timelines.
- Manage contract change to secure scope, control costs, reduce risks and ensure outcomes with access to tools specifically created for sub-contract management.
- Receive applications for payments, issue certificates for work done, manage period-end accruals, and match invoices against certificates to pay sub-contractors.
