VELOCIOUS SUPPLIER RELATIONSHIP MANAGEMENT APPLICATION
Most enterprises recognize that active and meaningful engagement with suppliers is the key to success. Benefits include accelerated time to market, improved margins and reduced risks. Best in class organizations recognize that this is a highly collaborative relationship. They have supplier portals that include advanced functions including onboarding / self-registration, workflows and OCR functionalities. When information exchange takes place in a timely manner, this brings about significant improvement in supplier engagement.
With the Velocious Supplier Relationship Management, enterprises could automate the engagement with their suppliers across the lifecycle, right from RFP/RFI issuance, to supplier registration, issuance of PO, receiving of electronic invoices, processing of invoices and intimation of payments. The solution combines the unique features of AI Chatbot, OCR and integrations with the Accounts Payable / ERP solution to deliver a differentiated experience.
A reverse auction is a strategic sourcing event in which suppliers bid to provide products and services which helps buyers in effective price discovery, gaining in-depth supplier market knowledge, and driving price reductions.
With the Velocious Supplier Relationship Management, enterprises could automate the engagement with their suppliers across the lifecycle, right from RFP/RFI issuance, to supplier registration, issuance of PO, receiving of electronic invoices, processing of invoices and intimation of payments. The solution combines the unique features of AI Chatbot, OCR, and integrations with the Accounts Payable / ERP solution to deliver a differentiated experience. Avaali’s Reverse Auction module allows enterprises to create, conduct and deliver reports for closed auctions and in turn automatically initiate the supplier onboarding processes for chosen vendors. Reverse auctions significantly bring down procurement costs for companies as bid prices are continuously brought down during live auctions, where vendors have visibility of where their ranking is against submitted prices.
The pace of adoption of new solutions in enterprises, is speeding up across the board. Enterprises want to seize opportunities by ensuring quick realizations from their investments in new technologies and solutions.
As a part of its continuous focus on innovations, Velocious is a range of unique offerings from Avaali, that supports enterprises to significantly accelerate the time to adoption. Avaali’s Velocious offerings are a set of ready-to-deploy solutions and services to empower enterprises in digitalizing your business.
Velocious is a set of scalable solutions that is able to integrate with legacy platforms and are perfectly aligned with your enterprise’s enterprise information transformation strategies. Transform your business processes with Velocious for your content migration requirements, improve supplier relationships, automate your payment approvals, manage your master data, accelerate the automation of your accounts payable processing and improve your supply chain management.
Avaali’s Velocious Offerings
- Velocious Chatbot
- Velocious Vendor Invoice Management Lean Implementation
- RPA for Logistic and Supply Management
- Velocious Migration Tool
- Velocious Payment Approval Automation
- Velocious Master Data Management” under Avaali’s Velocious Offerings
THE AVAALI ADVANTAGES
Avaali helps organizations significantly improve productivity and meet regulatory requirements by ensuring full visibility across the full business process to uncover insights and drive better decisions. Our consultants have a deep understanding of best practices as a result of implementing multiple Digital Transaction Management Projects for several global accounts. Avaali provides advisory services, implementation and support services to support the unique business process requirements of complex, global enterprises.