Significantly increase supplier engagement and bring down costs with the Velocious Source to Pay Platform.
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 but is probably the 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 entire lifecycle of 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 e-auction feature allows enterprises to easily create, conduct and deliver auctions and in turn automatically initiate the supplier onboarding processes for chosen vendors.
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
SOLUTION BENEFITS
Improve supplier Relationship
With self service mode , supplier has all key information available 24*7, thus enabling greater satisfaction and relationship with suppliers.
Smooth Onboarding Process
The supplier fills the onboarding form which ensures that all the information updated is accurate. Also eliminate paper-based forms and supporting documents as the portal allows supplier to upload all supporting document during onboarding.
Improve Visibility
The supplier has full visibility at all necessary levels across the Source to Pay process.
Quick Turn Around on Queries
Currently, the supplier raise their queries on calls and emails. By providing the access to the information and query management capabilities on portal , the time to get the queries answered gets reduced.
Reduced Costs
With features like early payment discounts, sourcing events, query management, etc. helps to reduce the operational costs.
Improve Efficiency
Invoices uploaded by the Suppliers seamlessly flows to the invoice processing application (VIM, ReadSoft), so this ensures that invoices are processed immediately and are not stuck with user departments.
THE AVAALI ADVANTAGES
Avaali is uniquely positioned to deliver this Velocious Source to Pay Platform as we have experience of working with over 100+ 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.
