Beating Fraudsters at Their Game: Insights on How Procurement Solutions Help to Curb Fraud (Published May 30th, 2019: MWUG Spring Newsletter) Fraud cases are on the rise. Today, many businesses fall prey to fraudsters, thanks to technological loopholes. Fraud has adverse effects on an enterprise regardless of the size. Among the main outcomes of fraud…
Make PO Management and Buyer-Supplier Collaboration Easy
iManagePOs™ is a Cloud-based Solution iManagePOs, which is part of the ISS Group’s Supplier Relationship Management suite of procurement solutions.
ISS Group’s iManagePO’s Solution will improve communication and collaboration with your Supplier(s) resulting in greater visibility into the procurement and PO lifecycle while reducing risk and improving supplier relationships
Integration is seamless with QAD EA and is the only Procurement Management software made specifically to solve the most common challenges manufacturing and distribution companies face in managing their direct spend, such as tracking of purchase order acknowledgements and scheduled ship dates for each PO line item, alerting Suppliers/Buyers to PO Changes, updating the PO within the ERP system with approved PO changes, the ability for Suppliers to create ASN’s, and a Supplier Performance Scorecard .
No other solution brings greater visibility into the procurement and PO lifecycle while reducing risk and improving supplier relationships.
With iManagePOs Companies Achieve Saving Through Four Key Factors
Help buyers standardize and automate the entire PO lifecycle
Every PO and supplier detail can be found in one, easy-to-use, real-time view.
Integrates with your ERP to streamline and digitize the purchase order process.
Quickly identify problem areas, such as unacknowledged POs, late items or PO changes
Key Product Features
Automate PO Lifecycle
iManagePO’s Purchase Order Management software was built to solve the biggest challenges we know manufacturers, distributors and their suppliers face.
Automated Purchase Order System
SourceDay cloud-based purchase order management system extends the power of your ERP, so you can effectively manage direct spend and buyer-supplier relationships in only a few clicks. We digitize and automate purchase orders to help customers standardize processes to reduce errors, communication delays, material delays, frustrations and miscommunication. No other PO management software brings greater visibility into the PO lifecycle.
The SourceDocs module on SourceDay automates sharing and managing all types of documents with your suppliers. No matter how many suppliers you have, SourceDocs ensures your suppliers have the latest revision of manuals, prints, bill-of-materials, and specifications. Just upload the updated document into SourceDocs and in only seconds, the updated document is shared with your supplier. Quickly see when a supplier confirms receipt of your document, and easily send reminders to suppliers slow to acknowledge them.
Request for Quote
SourceDay automated purchasing software streamlines the RFQ process, so you can ditch spreadsheets. Build your RFQ in SourceDay, and we’ll send it automatically to your suppliers, tracking its status in one place every step of the way. Gain a unified view of every supplier on your list, who responded, their best offers and their scorecard rating, so you can make informed decisions without the manual effort.
SourceDay purchasing order management system includes a Supplier Scorecard that makes measuring supplier performance and communicating scores something you can actually implement. Our supplier scorecard keeps track of what matters most like supplier price variance, on-time delivery, quality and responsiveness. Suppliers have constant access to their current scorecard, they can self grade their performance and be proactive to changes in your business needs.
SourceDay offers customers the option to embed a quality control system into their scorecards, automating the process of material disposition due to specification errors. The system tracks the incoming inspection of materials, placing parts in a quality queue and flagging them for review. If the item(s) fails inspection, the reviewer inputs the reasons into SourceDay and collaborates with the supplier to disposition the material.
SourceDay enables suppliers to complete a detailed ASN document, save it in our platform and automatically send it to buyers prior to shipment. As a buyer, ASN’s will inform you which POs and what materials are shipping, and your receiving department will be prepared to receive each shipment by knowing the exact arrival date size, weight and quantity of boxes and containers to expect. No more surprises, missing items or unprepared staff.
Streamline and Improve Control Over any ERP Process
Approval Routing and Workflow Efficiency
Supplier Relationship Improvement
When you have sound and efficient supplier relationships, you get the supplies and services that you need quickly and at the lowest cost.
Key factors for improving Supplier Relationships include:
- Pay invoices in a timely manner. Many suppliers will offer discounts if you can provide faster payment. By having better pricing and faster turnaround, you can also start to speed up the quote-to-cash process. Some of the savings that you acquire from suppliers can also be passed to your clients. This will allow you to turn more quotes into cash, having a direct impact on your bottom line.
- Create channels for consistent communication. Communication is the key to any healthy relationship, and it’s a good point to keep this in mind when dealing with suppliers. Communication will create transparency on both sides of the channel and prevent hiccups or missteps, like incorrect inventory count or missing purchase orders. Having the right tools in place that allow both internal and external teams to quickly communicate and share documents and other information will help facilitate a more transparent, even-sided conversation.
- Dish out blame evenly. Pointing fingers during a dispute is instinctual, but it’s important to distribute blame on all sides. An easy way to ruin a relationship with a supplier is to place all the blame on their processes when things go awry. When communication isn’t clear and dilemmas occur, it’s important to look at the situation from both sides of the transaction critically. Opening the floor to a conversation around the issue and realizing that both sides are likely at fault shows respect, translating to a better relationship and smoother future processes.
- Create transparency through technology. Trust is critical for a constructive buyer-supplier relationship, and the best way to build trust is to establish transparency. By using a fully integrated procure-to-pay system, procurement is able to access real-time information that they would typically have to request from their supplier. This also saves time, as procurement no longer has to try to contact a supplier by phone or email. By simply logging into a platform, they can get what they need right then and there. Technology also simplifies basic tasks like ordering more supplies and renewing contracts. Digitizing key processes like these eliminates the chance of error and creates a satisfactory transaction system for both parties.
ISS Group offers an integrated set of solutions called Supplier Relationship Improvement (SRI). Our on-premise or cloud based solutions digitize your business processes providing your organization with the right tools for global process standardization, practicing consistent communication, responsibility and patience and reduction in the process cycle time allowing buy-side organizations to create more effective relationships with their suppliers and well-run operations.
Learn More About Approval Routing and Workflow with iApprove
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Many businesses strive to maintain good relationships with customers, however unfortunately forget their supplier relationships. They neglect suppliers and do not bother to establish good relations with them. Suppliers are a fundamental part of your enterprise that you should not overlook. Developing a great supplier relationship is a crucial part of business survival and success.…