The costs have been identified and the savings have been delivered, but most organisations now fail to take full advantage of the work that has been achieved so far.
The stumbling block is invariably an inability to achieve full organisational compliance with the negotiated contracts. Compliance is often compromised. Organisations are forced to rely on paper-driven and error-prone purchasing processes that waste time and money. Frustration arising from the inefficiency of this system consequently reduces user and supplier engagement. As a result, it is often too easy to revert back to preferred suppliers and contracts. When buying behaviour does not change and compliance is not achieved, an organisation can never effectively leverage expenditure and savings will be eroded.
Recognising this problem, Valueworks and has developed two products, which guarantee organisational compliance and therefore enable organisations to keep and sustain their savings.
Valueworks® Procurement Management™ eliminates project cost overspend. It builds an accurate project budget based on centrally negotiated individual product eCatalogues, thereby ensuring procurement compliance.
Buyers use Procurement Management to forecast spend on a project and set parameters for those involved in the buying process for that project. In this way the opportunities for variations in buying are constrained. Clients who have used the system over recent years have found they can control their actual spend to within 1% of the original forecast and demonstrate 100% compliance with pre-negotiated supply arrangements
What makes Valueworks' Procurement Management Different?
- The Procurement Budgeting module enables the online creation of accurate procurement budgets. The budgets are based on the automatic application of centrally negotiated products and prices and provide ongoing management reporting of procurement performance versus budget
- The Procurement Ordering module enables the online creation of fully compliant and self-priced purchase orders using customised standard order templates to ensure efficient, accurate, ease of completion.
Valueworks Procurement Management - Features
- Web based procurement hub requiring no hardware or software investment.
- Ability to create purchasing communities across multiple departments / organisations.
- Access to real-time data through easy-to-use online interfaces.
- Customisable and flexible multi-level reporting capabilities.
- Full client implementation package including two on site training sessions.
- Continual proactive systems monitoring with telephone, email and online support.
- Client help-desk service.
- Online user guides with monthly updates.
- Monthly refresher training session.
Valueworks Procurement Management - Benefits
- Creation of accurate annual or project procurement budgets.
- Realistic forecasting of phased procurement spend and cash flows.
- Provision of accurate demand forecasts to suppliers.
- Prevention of maverick buying and supplier invoice errors.
- Real-time reporting of spend against budget to provide visible control of procurement expenditure across multiple departments / organisations.
Valueworks® eProcurement™ Valueworks eProcurement is a flexible, internet-based electronic trading system. This system allows organisations to create automated 'closed loop' procurement processes where procurement transactions can be managed at a low administrative cost and with a high level of control.
What makes Valueworks' eProcurement Different?
Valueworks eProcurement is an internet based eProcurement hub that can be configured to manage the full purchase-to-pay cycle across multiple departments / organisations.
Valueworks eProcurement - Features
- Customisable to the financial processes of individual industries, organisations and users.
- Transaction workflow automation with automatic reminders and escalation procedures.
- Online tracking of transactions at any stage of the purchase-to-pay process.
- Consolidated / aggregated billing capability.
- Automatic generation of delivery notes and purchase invoices.
- Secure transactions with Verisign encryption.
- 7-year historical audit trail of events.
- Full automated integration capability with other software packages.
- Telephone and Internet helpline support.
Valueworks eProcurement - Benefits
- No hardware or software investment required.
- Customisation to existing financial processes.
- Controlled and accurate pricing of purchase orders.
- Reduces administration costs whilst accelerating the procurement process.
- Prevents invoice mismatching
- Rapid process issue resolution.
- Enables the process to be continually reengineered in order to improve efficiency.
- Improved supplier cash flow.
- Automatic data feeds into other software reducing administration costs.
