Key Features of Procurement Management
VENDOR MANAGEMENT
Shift the onus of maintaining the master data to your vendors with the VIENNA Advantage Vendor Management module. Transferring data ownership to the vendor ensures your procurement team is free to spend their time on higher-value activities in the buying process rather than being your vendor’s data custodians.
USE VENDOR PERFORMANCE RATINGS AS A STRATEGIC TOOL
A vital tool in the e-Procurement process in any organization is the vendor feedback repository which consolidates all qualitative and quantitative data on vendor performance. These are especially paramount in renegotiating vendor contracts or managing operational risks by taking disciplinary action against a particular vendor in response to their feedback.
LEVELS OF AUTHORIZATION WORKFLOW IN REQUISITIONING PROCESS
Create workflows and purchase requests from different warehouses or departments. The solution allows you to define the priority status of the requisition or even track order details from a purchase order linked to a requisition amongst other advanced features.
GROUP PROCUREMENT
Streamline your procurement department and transform it into a truly shared service.
TENDER MANAGEMENT AND REQUEST FOR QUOTATION (RFQ)
Expedite the purchasing process with VIENNA Advantage tender management and RFQ functionalities.
PURCHASE ORDER MANAGEMENT
Create and publish Purchase Orders for access to vendors via the vendor self-service portal.
ACTIONABLE ANALYTICS THAT PROVIDES INSIGHTS
Create new insightful analyses to generate effective plans; whether it is to evaluate your payables cash cycles, aging reports, or spend analysis - VIENNA Advantage Analytics gives you the flexibility and power to have this information on your dashboards.
POWERFUL REPORTING AND AUDIT FOR VENDOR COMPLIANCE-RELATED ISSUES
Managing operations across different countries mean abiding by several jurisdictions and compliance related to vendor regulations. VIENNA Advantage e-Procurement Solution provides end-to-end compliance recording and reporting capabilities where you can record proceedings of vendor screening and due diligence meetings, archive minutes of meetings, and integrate third-party due diligence tools to bring about powerful compliance and reporting capabilities.
SEAMLESSLY INTEGRATE PROCUREMENT WITH FINANCIAL MANAGEMENT THROUGH COMMITMENT BUDGETING
Interlink your procurement and the budgeting process with VIENNA Advantage e-Procurement Solution. Utilize a highly configurable workflow management engine to implement threshold-based approval workflows that check procurement against capital expenditure or operational expenditure for expense purchases.
INTEGRATE GOODS RECEIPT AND VARIATION ORDERS WITH YOUR STANDARD PROCUREMENT PROCESSES
Through its Goods Receipts and Vendor Payments processes, VIENNA Advantage e-Procurement Solution offers native integration to other key modules such as inventory management or enterprise asset management. It further supports variation orders with predefined tolerance levels to account for any variation resulting from deviation in actual deliverables from the Purchase Order.
MANAGE END-TO-END COMPLEX TENDERING PROCESSES
Whether it is the creation of a tender plan, defining multi-level evaluation criteria, or specifying evaluators for each stage of the tender evaluation process, VIENNA Advantage Procurement Solution has it all. It comes with an embedded Document Management System (DMS) that allows you to share documents with relevant vendors effortlessly. The solution further provides extensive functionalities which include the managing of tender openings, addendums, and revisions amongst others and goes on to manage bid comparisons, award recommendations, and issue Purchase Orders to respective successful vendors.