Procurement Management

Cut down procurement cycle times by automating purchasing and vendor processes.

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 Procurement Management Software - Procurement Management

Procurement Management Software

Leverage the unified procurement management framework, built on NewgenONE—a low code digital transformation platform—to optimize and manage the end-to-end purchasing process seamlessly. Tap the  solution’s built-in capabilities to manage critical processes across the procurement cycle, including requests for quotes (RFQs), pricing & discounts, purchase planning, ordering & requests, purchase orders (POs), delivery & scheduling, and open orders & budget accounting, portal-based quote/bid submission, final invoicing, and disbursement of payments. Integrate with different ERPs, third-party systems, and legacy applications to gain detailed insights into complete lifecycle of transactions and maintain reliable, risk-free operations.


Supply Chain for the Digital World

Read this guidebook for COOs/CIOs to discover how you can enhance agility and flexibility in your supply chain, seamlessly adapt to unforeseen circumstances, mitigate business risks, and ensure uninterrupted operations.

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Solutions for Supply Chain

Procurement Management

Purchase Requisition (PR) to Quote Comparison

  • Quick creation of purchase indent
  • Easy classification of purchase requisitions
  • Guided vendor selection
  • Simplified quotation creation
  • Purchase requisition generation based on inventory and approvals
  • Vendor portal-based submission and comparison of quotes
  • Auto-ranking of vendor quotes for informed decision making
Procurement Management

Bid Management

  • Online bidding against non-satisfactory vendor quotations
  • Options for selecting a specific set of vendors for bidding
  • Bid duration settings for each request
  • Auto alerts and notifications
  • Bid submission via portal, with visibility into bid ranking and status
Procurement Management

Contract Lifecycle Management

  • Real-time audit of contracting actions
  • Smarter contract authoring and information tracking
  • Options for inviting counterparty for collaborative negotiations, minimizing TATs
  • Contracts signing and distribution to relevant stakeholders
  • Robust tracking of obligations, performance, and renewals with intelligent governance
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Procurement Management

Vendor Onboarding and Management

  • Configurable business validation rules to avoid fraudulent requests
  • Options for blocking/unblocking specific vendors based on the final decisions
  • Dynamic approvals based on predefined business rules
  • Smart communications to relevant stakeholders
  • Robust integration with ERPs
  • Exception handling and comprehensive auditing
Procurement Management

Purchase Order

  • Generation of purchase orders, acknowledgment, and award letters
  • Instant pushing of PO details into ERP applications
  • Reverse update ERP purchase order number to workflows
  • Alerts and notifications to vendors on successful generation of POs
  • Real-time visibility into open purchase orders on the portal
Procurement Management

Inventory Management

  • Creation of advance shipment notice based on electronic notifications from vendors
  • Timely communications with vendors in case of delayed shipments
  • Robust integration with ERP to post goods receipt notes (GRNs)
  • Visibility for vendors against processed GRNs on the vendor portal
  • Intuitive dashboard for real-time status and updates
Procurement Management

Invoice Processing

  • Multi-channel capturing of invoices
  • AI-powered classification and multi-engine extraction of invoices
  • AI-powered de-dupe checks
  • Image-assisted validations and fuzzy matching
  • Exception management, approvals, and payment management
  • Robust built-in rules for touchless processing of invoices
  • Seamless communication and query management with vendors via the vendor portal
  • Strict adherence with local and global laws & regulations
Procurement Management

Vendor Portal

  • Approval-based sign-up for vendors
  • Smooth submission of invoices with detailed tracking
  • Instant response mechanism against invoice-related queries
  • Self-transaction initiation and tracking by vendors
  • Seamless management of vendor documents

Success Stories

Streamlined contract management - Procurement Management
Streamlined contract management
The US-based multinational corporation had a manual process of creating and managing contracts and no centralized...
Decreased process cycle times by 50% - Procurement Management
Decreased process cycle times by 50%
The client, a privately-held Dubai-based conglomerate, leveraged Newgen’s robotic process management suite to automate...
Improved processing efficiency by 60% - Procurement Management
Improved processing efficiency by 60%
A global alcoholic beverage manufacturer streamlines their accounts payable and receivable processes to reduce...

Where are you in your digital transformation journey?

We have compiled tools and documents to help you in your journey. Knowing that “what you see depends on where you stand,” we have something for you, as a line-of-business operations in-charge, an IT leader, or a C-level executive, for your industry-specific needs.
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At this stage, you might find that the available technology/solution is going beyond your initial expectations in terms of scope. This is also the stage of building consensus among your peers for your industry-specific needs, whether you are a line-of-business operations in-charge, an IT leader, or a C-level executive.
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This stage is all about looking beyond features and functions. After all, addressing just the immediate need can translate into “short term gain but long-term loss.” Invest in a technology that solves for your today’s needs and is extensible and configurable for your unknown future needs. As a line-of-business operations in-charge, an IT leader, or a C-level executive, you don’t want to go through the same process in another 2-3 years !
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It all comes down to choosing the right partner. Their innovation history, industry focus, local presence, support services, partner ecosystem, technology strength, cost effectiveness, customer references, risk rating, and lot more needs to be evaluated. As a line-of-business operations in-charge, an IT leader, or a C-level executive, you are all evaluating them from your unique perspectives!
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That feeling of achievement and relief after a successful, on-time, in-budget project is all what you look for. Believe us, the feeling is mutual. As a line-of-business operations in-charge, an IT leader, or a C-level executive, make sure you celebrate the milestone, recognize everyone who made the project successful, and identify your additional digital needs.
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