Procurement

Where Spend Meets Value

 

The science of spend management. The art of managing people and processes.
The data to tie it all together. This is what procurement always knew it could be.

 

 

Why Ivalua for Procurement?

 

  • Use a clean, familiar “Amazon-like” user interface.
  • Track actual and planned spend commitments against budget.
  • Send requests from any source or format through approval workflows tuned to content and value.
  • Set up supplier alerts and notifications for missing credentials, expiring documents and new data.
  • Stay on top of order fulfillment with supplier ship notices and final receipts.

 

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Ivalua Procurement Modules

Purchase Requisitions

Requests from catalogs, contracts, punchouts or free-text all can be routed through approval workflows configured to specific types of content or value.

KEY FEATURES

  • Account for multiple costs, multiple suppliers and multiple delivery sites.
  • Set validation workflows based on the type of purchase requisitions.
  • Launch spot bidding events directly from a requisition.
  • Use integration with accounting tools for bookkeeping entry and provisioning.
  • Generate accounting entries for different ledgers (purchase ledger, operations, journal entries) that can export to your accounting system.
  • Manage of the various ways of accounting for taxes (deductible, non-deductible, pro-rata, self-assessed).

HOW DOES IT DELIVER VALUE?

Capture needs directly from requisitioners using a familiar online buying experience that guides users througout the process. Save time by subject matter experts and managers by workflow routing of only exceptional items. Budgets and projects are warned before orders are generated.

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Purchase Orders

Orders are communicated to suppliers for acknowledgment and a formal change-order process tracks evolving needs.

KEY FEATURES

  • Create and distribute company-specific custom purchase order forms.
  • Apply advanced payment savings on orders.
  • Manage discount percentages.
  • Automatically assign cost categories based on the user profile and the type of purchase.
  • Track both projected and contracted expenses based on budget categories.

HOW DOES IT DELIVER VALUE?

Automating the creation of multiple orders from one requisition (or vice versa) saves time for buyers. Communication through the Supplier Portal or via EDI/cXML brings the supplier into the process without reliance of fax, mail or email. Change order processing reduces maverick spend of adding to existing orders after approval.

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Goods Receipts

Advanced ship notices from suppliers and final receipts signify fulfillment of orders.

KEY FEATURES

  • Tracking of contracted expenses based on budget categories
  • Creation of total or partial receipts
  • Multiple charges to the budget at fulfillment

HOW DOES IT DELIVER VALUE?

By making deliveries and reciepts part of the same process, re-entry of data is minimized. Suppliers can note shipments in advance (or ask permission to ship, in some cases), and buyers can enter receipts by approving the same ship notices. Workflow can notify requisitioners of received items and services to streamline their acknowledgement before invoicing.

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Budget Tracking

Track actual and planned spending commitments against budgets managed online or imported from your financial system.

KEY FEATURES

  • Easily load budgets into the system.
  • Manage budgets by fiscal year, cost center, organization, project, etc.
  • Conduct budget line spend analysis based on progress (budgeted, negotiation, contracted, invoiced).
  • Configure alerts in case of budget overspend.

HOW DOES IT DELIVER VALUE?

Stop buys before they start by checking requisitions against the current budget. Control budgets better by not simply seeing remaining budget amounts but also pre-committed budget (in the form of requisitions and orders not yet invoiced). Communicate budget encumbrance from requisitions and orders back into the budgeting ERP or other accounting system(s).

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