Are You Velocious?
VELOCIOUS SOURCE TO PAY PLATFORM
Most enterprises recognize that active and meaningful engagement with suppliers is key to success. Benefits include accelerated time to market, improved margins and reduced risks.
Avaali’s unique Source to Pay platform is a compelling full-featured solution that automates the entire lifecycle of supplier engagement processes and helps significantly reduce sourcing and procurement cost.
Velocious Source to Pay platform delivers value by:
- Enabling full lifecycle automation of supplier collaboration processes
- Only solution that offers out of box integration with any best of breed Accounts Payable Automation solution as well as leading ERP’s.
- With such integration, invoices that come via the portal are automatically extracted through the OCR engine, processed automatically, and posted into their ERP application.
Velocious S2P platform automates the supplier collaboration processes including RFP/RFI process, supplier onboarding, facilitates automatic exchange of PO and invoices, provides dynamic discounting in addition to other features like dashboards and insights.
The reverse auction feature allows enterprises to easily create, conduct and deliver auctions and in turn automatically initiate the supplier onboarding processes for chosen vendors.
Velocious S2P is ISO Certified & Security Audited
Solution Addressing Business Needs
The Velocious Source to Pay Platform is a one of its kind solution, with rich features including:
Sourcing
RFQ
- ✓ Configurable RFQ form with PR and Non-PR based options
- ✓ Exhaustive Review Mechanism before RFQ publishing
- ✓ Auto Suppliers Quote Comparison
- ✓ BPMN based configurable Workflow Engine
- ✓ Proactive Alerts & Notifications
- ✓ Auto Order Creation in ERP
Reverse Auction
- ✓ Configurable Bid Rule Engine
- ✓ Role Specific Views – Creator, Publisher, Moderator, Approver
- ✓ Instant Messaging mechanism to chat with Auction Moderator during Auction
- ✓ Real Time Bidding
- ✓ Comprehensive Auction Evaluation and Approval Mechanism
- ✓ Proactive Alerts & Notifications
Contracting Lifecycle Management
Supplier Contracting
- ✓ Contract document authoring and editing
- ✓ Comprehensive Clause Library
- ✓ Configurable Workflow Engine
- ✓ Reminders and Notifications
- ✓ Auto Contract creation in ERP
Supplier Information Management
- ✓ Comprehensive Onboarding Form with flexible option to add additional fields
- ✓ Built in Validations – PAN , GST , Bank Details, MSME
- ✓ Field level validations and validations with ERP Supplier Master Data
- ✓ BPMN based configurable Workflow Engine
- ✓ In-built query management functionality
- ✓ Supplier Profile Management
- ✓ Proactive notifications and comprehensive reports
- ✓ Auto Vendor Creation and Updates in ERP
Order & Delivery
- ✓ Order Details
- ✓ Order Status Visibility of Open and Closed POs
- ✓ Order Acknowledgement and its Status Update in ERP
- ✓ Order Items Delivery Visibility
- ✓ Goods Receipt Status Visibility
- ✓ Advanced Ship Notice (ASN) creation
- ✓ ASN Document Generation along with bar code
- ✓ ASN Document Generation Notification
- ✓ Inbound Delivery Creation in ERP
Invoice Management
Invoice Upload and Validations
- ✓ Invoice Upload Mechanism supporting all Invoice types
- ✓ Functionality to attach supporting documents
- ✓ Auto Digital Signature Verification
- ✓ QR code reading for IRN based invoice
- ✓ Built-In Invoice Workflow
- ✓ Invoice status visibility – Approved, Paid etc. and Invoice Payment Visibility
Payment Management
Payment Management
- ✓ Invoice Payment Status Visibility
- ✓ Vendor Account Statement Visibility
- ✓ Early Payment Request Mechanism
- ✓ Discount percentage Configuration functionality – Supplier Wise
- ✓ Auto calculation of discounts
- ✓ Notifications of Bill Discount Request
Analytics
Analytics
- ✓ Total Spend
- ✓ Spend by Category/Subcategory
- ✓ Supplier Spend
- ✓ Spend by Plant/Material Group
- ✓ Supplier Performance
- ✓ Spend by Time Period
- ✓ Spend Trends
SOLUTION BENEFITS
Improved supplier relationships
Single source of truth for both parties leads to better trust and faster processes.
Faster supplier onboarding
Comprehensive, complete and risk free onboarding processes via auto validations of key supplier details and workflows.
Improve Visibility
The supplier has full visibility at all necessary levels across the Source to Pay process.
Faster turnaround on supplier queries
Minimize calls / emails – address queries via portal and make announcements.
Reduced cost of procurement
Most effective price discovery processes, agility data driven decision making and automated processes.
Improved efficiencies
Via automated processes with audit trails and minimized manual intervention.
THE AVAALI ADVANTAGES
Avaali is uniquely positioned to deliver this Velocious Source to Pay Platform as we have experience of working with over 250+ large enterprises to automate various shared service and procurement processes. Our functional knowledge coupled with deep technical expertise in various emerging technologies has been incorporated into this product. With our rich functional understanding and numerous experiences, our solution offers a very practical and cost-effective way of engaging with suppliers.
