Business Challenges Facing Procurement
Manual procurement processes that drive up process and purchase costs, lack of data integration that limits visibility into procurement activities, and impaired decision making combined with difficulty accessing timely and accurate information are the three biggest challenges facing enterprise e-Procurement.
What is Procurement Management?
Procurement management is a core functionality that enables you to automate and standardize purchases rapidly, with integration across multiple business functions such as accounting and warehouse management.
Gaining a detailed view of your vendors and having access to an integrated and centralized vendor data repository enables more effective purchasing decisions and opportunities for cost savings. Well-managed supplier relationships are vital for e-Procurement automation.
Automating Procurement Processes with Netfira
Netfira offers best-in-class functionality to support your core procurement activities, integrating the entire purchasing process from order to cash management, including purchase creation, inventory updates and invoice processing.
Netfira updates information in SAP that is maintained centrally. Purchase orders can be created in a few straightforward steps and sent to the vendor electronically from the Netfira Enterprise Buyer product. To help ensure that the appropriate levels of goods are in the warehouse for timely order delivery, Netfira allows you to create purchase orders automatically.
- ProcurementCreate single or multiple POs and goods receipts; link purchasing documents, and view document trails for audit purposes; manage returns, additional expenses, and multiple currencies.
- Detailed View of Your VendorsAn integrated, centralized vendor data repository can help enterprises make more effective purchasing decisions, identify opportunities for cost savings, and better manage supplier relationships. Users manage detailed data in a user-friendly interface, view account balance and purchase analyses, and maintain detailed item purchasing information with price lists and tax information.
- REAL-TIME Purchasing and Pricing ReportsThis gives you a comprehensive overview of your purchasing history, including information about the items you bought, your suppliers, the prices you paid, and transaction dates. This makes it easier to compare suppliers and prices, identify which supplier can meet your business needs, and negotiate to get the best possible price. You have easier, up-to-date reporting with real-time data, and these reports are available for display in various report formats.
Netfira is MYOB and SAP certified, and works in conjunction with many major purchasing systems such as SAP, Ariba, and Oracle.