ProcurementPath

ALWAYS KNOW WHERE YOUR PROCUREMENT STANDS

Make the procurement process easy for your organization by automating sourcing, contract management, purchasing, vendor management, and more. Using an intuitive system and guided workflows, our procurement process automates processes, provides end-to-end visibility, decreases time to purchase, and increases your organization’s efficiency and satisfaction.

PROCUREMENTPATH

ProcurementPath digitalizes your procurement activities for end-to-end:

  • Procurement
  • Sourcing
  • Contract Lifecycle Management
  • Purchasing
  • Payment Approvals
  • Vendor Management
  • Category and Spend Management
  • And more!

Keep procurement activities on track using a consumer-like experience to increase Procurement productivity. Requests, projects, tasks, approvals, key dates, contacts, and information are just a click away. ProcurementPath provides a procurement tailored experience, workflows, and reporting to automate procurement from everywhere.

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BENEFITS TO YOUR ORGANIZATION

Organizational benefits from digitalized procurement include:

  • Streamline and automate sourcing, contracting, and purchasing
  • Accelerate procurement timelines using guided workflows, task management, and notifications
  • Full visibility into contract and procurement activities, timelines, and key dates and events
  • Enforce process governance and track end-to-end compliance
  • Track spend by vendor, contract and category
  • Self-service for customers and vendors for activity tracking, request automation and profile management
  • Ensure vendor compliance and reporting
  • Reduce poor communication and miscommunication that extend timelines and result in dissatisfied customers

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FEATURES

Track Procurement Activities through a Centralized Dashboard

REQUEST MANAGEMENT AND TRACKING

Self-service request management for sourcing, purchase orders, requisitions and other procurement services using a web-based, mobile-ready portal and a guided request process enable procurement and users to track the end-to-end status of requests.

SOURCING

Source planning allows procurement to define the sourcing strategy, document requirements, collaborate with key stakeholders, and identify / solicit vendors.

Self Service Procurement Request

Procurement can Refine the Request Record

Procurement can define the category and scope of work to include the required approvals and reviews for the sourcing request process. Vendors can be organized by groups to help support your sourcing needs, such as differentiating between facilities and technology vendors.

VENDOR BID SUBMISSION

ProcurementPath allows you to define vendor solicitation response requirements and evaluation criteria, so you can fully automate the evaluation and selection process. The portal allows you to automatically request vendor bids from approved vendors. As vendors upload their responses, you can see the status such as no-bid, in progress, or submitted for review

Vendors can Submit Responses Online

Evaluation and Selection Image

Vendor Response Record

EVALUATION AND SELECTION

With ProcurementPath you can manage and evaluate the responses in a single place. Evaluation allows the procurement team to rate responses against the requirements and, separately, against each other, to make best value or lowest cost award decisions.

Evaluation members can rate vendor responses to help you determine offer ratings. Evaluation factors are user definable and can include solution, technical approach, quality, conformance, compliance, past performance, and risk. Compare evaluations to determine which vendor provides the best value to your organization. Once a vendor is identified, you can automate the process of contract award to the winning vendor.

Evaluation Record

Contact Request

CONTRACT MANAGEMENT

Use ProcurementPath to manage contracts from award to closeout. Manage the full contract lifecycle from request, negotiation, award, tracking, reporting, and closeout. Proactively manage all aspects of your contracts including modifications, spend, clauses, terms and conditions, option periods, upcoming expirations, compliance, and other contract documentation.

PROCURE-TO-PAY AUTOMATION

Automate the end-to-end procurement process from purchase request & approvals, purchase order (PO) creation and submission, PO acceptance and goods/services receipt, invoice recording, 3-way match, and supplier payment approvals.

Manage Purchase Orders

Forecasting / Future Demand

FORECASTING & DEMAND MANAGEMENT

Forecast and track future procurement needs, key procurement activities, and key contract or procurement dates / expirations. Collaborative forecasting with internal organizations for future period sourcing, contracting, and procurement needs allows procurement to better shape customer demand and provide best-in-class service.

VENDOR ONBOARDING AND MANAGEMENT

ProcurementPath can manage all your vendors seamlessly in one system. Automate vendor onboarding and compliance through partial / full vendor service. Create an online solution for vendor collaboration to manage company and individual contact information, proposals, contracts, communications, and tasks. You can also manage any compliance requirements and vendor issues, such as defective products or poor service delivery.

Vendor Response Record

ADDITIONAL CAPABILITIES

SELF-SERVICE
Put your user in control of their procurement experience with intuitive self-service capability

WORKFLOW & TASK MANAGEMENT

Assign and automate workflow and taskers to drive accountability
Fully integrates with ServiceNow Vendor Risk Management
Fully integrates with ServiceNow Vendor Performance Management
DASHBOARDS & REPORTING
Dashboards and reports provide key information, insights and reporting
FULLY MOBILE
Fully mobile user experience is responsive and works across web browsers, phones, tables, and more
KNOWLEDGE & SKILLS MANAGEMENT
Manage the procurement department skills and knowledge in a centralized repository
ERP INTEGRATION
Fully integrates with your ERP and other major systems.