TradeMerit Procurement covers the process of acquiring goods/services from suppliers to provide end-to-end visibility into relevant internal, supplier, and logistics provider activities. Such end-to-end visibility in conjunction with powerful analytics optimize purchasing costs and delivery times, while real-time controls ensure the quality and efficiency of purchasing, receiving, and invoice processing activities. The result is:
- Lower procurement processing and goods costs.
- Reduced risk of missed order delivery & increased reliability.
- Improved cash flow through accurate invoicing and returns management.
- Collection of chargebacks and penalties from supplier.
Leverage Supplier Portfolio To Balance Cost & Time
Track sourcing strategy from different suppliers according to cost, reliability and lead time. Reduce your procurement costs without compromising critical delivery dates by automatically matching your purchasing requirements to appropriate suppliers.
Consolidate Purchase Order & Reduce Costs
Reduce your processing costs and utilize potential volume discounts by consolidating purchase orders going to the same supplier. Let TradeMerit monitor purchasing requirements, analyze applicable time and geographical constraints and accordingly issue consolidated purchase orders.
Accelerate & Improve Quality of Purchase Order Creation
Lower processing costs and avoid potential delivery errors by automating Purchase Order creation and improving its accuracy. Ensure that orders are created in a manner consistent with your sourcing policies and supplier profile.
4-Way Invoice Auditing & Approval
Let TradeMerit monitor order, receipt, inspection and invoice data in order to automate invoice auditing process. Automate 2-way, 3-way, and 4-way invoice checks to detect erroneous invoices and optimize your cash flow. Accelerate and control your invoice payment by applying a policy-driven invoice payment approval workflow.
Facilitate Chargebacks & Penalties
Automatically measure order delivery against established contractual commitments. Improve your cash flow by accelerating the process of detecting and tracking chargebacks and penalties.
Detect Incidents & Increase Accountability
Automatically detect operational issues that may impact your purchase order issuance, delivery, and invoicing. Instead of following up on each transaction, configure tolerance thresholds and specify who (or what system) should respond to a given situation. Track actions taken by the various parties to promote accountability and ensure efficient procurement process.
Leverage Existing Systems
Achieve end-to-end visibility by collecting relevant data from existing systems and partners. Whether you are using an ERP, procurement system, or a mix of separate applications, TradeMerit maximizes the benefits of your existing investments and supports your future IT plans.
Reporting & Analytics
Customize and use web-based reports in order to improve operations and monitor overall performance. Leverage real time drill-down dashboard to enable performance analysis of supply chain business processes. Define Key Performance Indicators (KPI) based on a wide array of business metrics including: Line Count Fill Rate, Performance to Promise Dates, and Supplier performance.