ProcurementPath digitalizes your procurement activities for end-to-end:
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.
Organizational benefits from digitalized procurement include:
Track Procurement Activities through a Centralized Dashboard
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.
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.
Vendors Can Submit Responses Online
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
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.
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.
Manage Purchase Orders
Automate the end-to-end procurement process from purchase request & approvals, purchase order (PO) creation and submission, PO acceptance and goods/supervices receipt, invoice recording, 3-way match, and supplier payment approvals.
Forecasting / Future Demand
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 Response Record
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.
Self-ServicePut your user in control of their procurement experience with intuitive self-service capability
Workflow & Task ManagementAssign and automate workflow and taskers to drive accountability
Dashboards & ReportingDashboards and reports provide key information, insights and reporting
Fully MobileFully mobile user experience is responsive and works across web browsers, phones, tables, and more
Knowledge & Skills ManagementManage the procurement department skills and knowledge in a centralized repository
ERP IntegrationFully integrates with your ERP and other major systems.