E-Procurement or Procure to Pay is the entire lifecycle of an organization to obtain material or services required to run their respective business. It can be a tedious and time-consuming exercise for the purchasing team to chase vendors, request quotations, and negotiate on the best selection offers. The payment processing for the selected vendor can be another long haul involving follow-ups for Invoice submission, seeking Approvals, and other intricacies involved.
PRM360 is the most innovative solution to meet your procurement requirements by incorporating all the individual Procure-to-Pay processes under one umbrella. With requirements posted Online, Automatic Quotations received from vendors, and their timely Validation by our intelligent systems make PRM360 one of the best in the business of E-Procurement solutions. The Online Bidding process allows purchase officers to select the best offer under the sun, saving almost 5-15% time over others. With Automatic Reminders to the vendor for Invoice Submission and by seeking Online Approvals for clearance, PRM360 cuts down on any possible delays in the payment schedule drastically. It not only contributes to vendor satisfaction but eliminates any unproductive time spent by the purchasing team on follow-ups. Statistics show that PRM360 users can seek 300% ROI over other E-Procurement solutions in the market.
Revolutionize the way you handle procurement
- Easier Business Flow with existing Infrastructure and Practices
- Increased Engagement with Sales and Marketing teams for Overall Growth
- Technical Integration with different Applications
- Consolidation of Agreements, Contracts and Invoices seamlessly under the Cloud
- Transparency of Pricing and Tender Details
- Lower Infrastructure Cost and quick Implementation
- Faster Turnaround time for E-Procurement related transactions
- Flexible and Scalable Solution
- Detailed Analytics for driving Informed Decisions with Calculated Risks
- Reduction of Processing Costs to almost 25-50%
Solutions
Impact of AI on procurement
E-procurement refers to the Business-to-Business, Business-to-Consumer, or Business-to-Government purchase and sale of supplies, work, and services through the Internet.
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Solutions
Impact of e-procurement in procurement world
The benefits of eProcurement are countless. It's not just increased savings, improved performance and zero errors you get, eProcurement enables procurement professionals to communicate effectively throughout the process while not compromising on standards and quality
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