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Automate Purchase Orders

Streamline to reduce PO errors, improve efficiency and record keeping

As the purchase volume and complexity increases, manual purchase order process using just Spreadsheets, Word documents and email would be error prone, time consuming and could lead to poor record keeping with no easy way to track & tally 

Purchase Requests and Orders

Create purchase orders by simply converting an awarded quotation received against a previous RFQ, which automatically defaults required information from the orginal RFQ and the quote

Simply route PO for internal approvals, issue to the vendor through the system using branded email and document templates auto-populating data

Order Approval Workflow

Define multi-level approval workflow with multiple users in each group. Users in the respective groups could review and approve the purchase order

Two level authentication could be enabled to ensure approvals are made only by authorized users. User need to enter confirmation code sent to their registered mobile phone

Catalog Purchase Orders

Purchasing out of buyer specific catalogs for atleast some of the standard items from preapproved suppliers at negotiated rates would ensure process & price compliance and reduce maverick spend

Engage suitable suppliers to publish catalogs for specific items to provide easy access and shopping cart style purchase for your employees through SourceRFX. This ensures reconciliation on receipt and eases invoicing

Quotation to Purchase Order Flip

Purchase Order Flip and
3 way invoice match

Using Supplier Portal and onboarding suppliers to it brings a number of benefits to both the buyer and the suppliers. Once a supplier quotation gets marked as "Awarded" in the RFQ flow, buyer can easily convert that into a Purchase Order without rekeying all the information. This reduces duplicate data entry and chances for errors, while expediting the process and automatically linking the PO with the underlying quotation for future reference.

On the supplier side, this allows supplier to easily acknowledge and start working on the order, as the approved PO can immediately be seen in the supplier portal. As the order gets fulfilled, supplier can simply raise an invoice against the purchase order, which automatically can pull the items from the underlying PO. This again helps both the buyer and supplier to avoid errors in terms of item numbers, quantity, units and prices. Buyer purchase and Accounts Payables team can easily do a three way match across the quotation, purchase order and invoice. Any deviations can easily be identified and addressed between the buyer and supplier. When the invoice gets submitted through Supplier Portal, there is no need for the buyer to rekey information and it is possible to eliminate paper based invoice or email attachments of PDF, Word documents with different formats.

shopping cart purchase orders

Catalog Purchase Orders - Shopping Cart Style 
Enabling catalog purchases from frequently used suppliers with significant repeat orders for same items could improve operational efficiency. Most suitable for indirect material (Office supplies, IT Equipment and MRO items), with the possibility to consolidate demand and negotiate discounted rates with suppliers, eliminating the need to go through the formal purchase order process

Catalog based purchase requisition and orders
Automate Supplier Access & Acknowledgement of Purchase Orders

Automate Supplier Access & Acknowledgement of Purchase Orders

Suppliers in your network would be able to login to their SourceRFX account to view all the POs issued by your organization. Registered suppliers with product catalogs published could also respond to shopping cart inquiries for items without list price and provide current price.

Out of network suppliers also can be activated by the buyer to provide Supplier Portal access based on their mobile phone number. This allows the supplier to login just using their mobile number and the password sent to their mobile (SMS message), without prior registration. This addresses the usual supplier resistance to signup and get onboarded into supplier portals giving them opportunity to gradually get used to the online benefits.

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