| ReactorNet e-Procurement Solutions |
Current Challenges
The small-to-medium size business sector generally exhibits many manual and labor
intensive processes from purchasing management through order fulfillment. In the
end, many incorrect business decisions are made, valuable business data is inaccessible,
and money is lost for both buyers and their suppliers. Losses are further magnified
for larger; more distributed organizations consisting of one corporate office and
many field locations. A few of the documented problem areas are:
- Ordering incorrect products resulting in
out of stock items, inconsistent branding
and/or return expenses.
- Increased “Maverick” spending reducing ability to leverage purchasing power
- Over spending in some or all spend categories resulting in over stock
- Lack of accountability on fulfillment and invoicing
Traditionally, solutions to these issues require large upfront financial investments
along with required resources that SMB companies generally do not have.Additionally,
even after these types of solutions are purchased, the expected ROI is not often
realized due to lengthy implementations, implementation failures and unachievable
benefits. Tools are
available today that address some of these issues, but there
are very few e-Procurement solution that allow Buyers and Suppliers to collaborate
and jointly manage the process.
Addressing the Challenges
To achieve effective corporate procurement operations, customers need:
- Collaboration: To improve accountability between Buyer and Suppliers, collaboration
allows customers to monitor order tracking, order fulfillment, and invoicing, thus
allowing greater visibility
into the purchase order lifecycle. Customers can therefore
accurately measure item substitutions and contract compliance, which enforces pricing
and eliminates overcharges.
- Automated Workflow: An automated, configurable approval process to ensure that
spending is approved within required limits and approved vendors, while at the same
time reducing the burden on purchasing managers.
- Integration: A procurement system should have back-office integration with A/P,
Inventory, and POS systems to ensure the integrity of purchasing data as reflected
in purchase orders and invoices.
The ReactorNet Approach
ReactorNet takes an innovative approach to providing solutions to these customer
problems:
- Collaborative: ReactorNet has designed collaborative software that integrates
buyers and suppliers’ requirements and responsibilities onto one platform allowing
Buyers and Suppliers to share in system management functions, making change management
achievable, thus easing the burden on both parties.
- Structure: ReactorNet solutions take a task oriented approach to managing procurement
by recognizing various authorization and work levels in the procurement management
hierarchy thus building in native support for organizations with one corporate office
and multiple field locations and users.
- Modular: ReactorNet software is modularized so that solutions can be customized
to fit specific company needs and maximize ROI.
- Hosted: ReactorNet provides e-Procurement solutions via an ASP model. This makes
it easy to get started with minimal upfront investment of dollars and customer resources.
- Flexible: ReactorNet integration support is built for flexibility with connectivity
capabilities to major back end financial and data base solutions.
The ReactorNet Difference
ReactorNet solutions allow Buyers to:
- Eliminate the manual procurement process:
- Save time
- Enhance productivity
- Increase total spend under management
- Improve work flow:
- Automate the requisition process
- Pre-approved spend allowances
- New products seamlessly added to order guides
- Global access via web; Anytime, Anywhere
- Improve Accountability with supplier
- Consolidating volume and creating partner loyalty
- Enhance order tracking process
- Greater visibility on item substitutions
- Timely order fulfillment data
- Real time knowledge of field and corporate spend:
- Forecasting with correct and complete data
- Reduce G & A
- Eliminate maverick spending
- Reduce errors/improve accuracy
- Improve corporate financial compliance
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