Introduction
A leading manufacturer of elevators, lifts and related equipment was looking for a solution to streamline PO and Invoice in their vendor management system. They wanted to reduce time and errors occurring in their system which affected productivity.
Problem Outline
The client needed a module in the vendor management solution that would provide for various sub-contractors to help logging in to the application. At present their system has stage-wise approvals for sub-contracting, which is tedious to accommodate manually. This has led to delay in approvals which is not healthy for the production process in the competitive elevator industry. Therefore, the system needs to provide the data related to the sub-contractor online in their vendor management system. The client sought the addition of a module for this in the system, which Vendora could provide.
Solution Summary
Our BD executives had a discussion with the client to understand their requirements, primarily to gauge the needs and challenges that were put forth. The client wanted transparency in the process for various sub-contractors by providing exclusive logins to the respective users. The Vendor Management System is the portal where all Service PO and Product PO details are managed, but usually there is no provision for Sub-Contractor process. As many industries are facing this issue, the introduction and implementation of Sub Contractor management module eases the transaction process of both the buyer and sub-contractor. It would bridge the communication gaps that may happen between them and help them to access the data available on a single portal, giving accuracy, but reducing paper and manual work to nearly nil. Sub contractors can accept / reject / request for change in PO. Once it is confirmed, ASN can be created in the portal for each milestone completed. Based on ASN approval by buyer, subcontractor can create invoice and proceed for payment process. A vendor management portal like Vendora helps the client to avoid multiple follow-ups done between buyer & supplier, helps to integrate with ERP and allows customization to meet the needs of stakeholders who are involved. Now with an online electronic vendor management system, single window communication is made possible in real-time basis. This new feature and module can be incorporated in the existing application of the client.Outcome
- Simplify supply chain tracking activities via the portal
- Bridges communication gap between vendors, buyers and others
- Integration with your ERP system is easy
- Saves significant amount of time
- Digitizes the procurement management process involving PO, Invoice
- Access by single entry point for all business units
Conclusion
Invest in buying or developing your Vendor Management System with automated vendor notifications & alerts to streamline procurement management process. Contact us for a Free Demo of Vendor Management Software & get an instant Quote.
Client Testimonial
We see it as ideal system with a module that helps sub-contractors avoid manual tasks and allows them to track the purchase order and invoices over a period of time required.
——— Head of Procurement, Manufacturing Division
