SutiSoft Inc., a trusted provider of hosted and enterprise solutions today announced the release of SutiProcure, an online Procurement solution enabling employees to procure Goods and Services from the right suppliers’ at the most competitive prices.
SutiProcure eliminates the use of paper documents and significantly reduces the time required for creating, sending and tracking Purchase Requisitions, Request for Quotations (RFQ’s), Purchase Orders (PO’s), Goods Received Notes (GRN’s), Invoices and Payments. This hosted solution provides a secure electronic repository for storing all documents involved in the purchasing process, from Requisitions to Payment Receipts.
The solution provides a separate interface for Suppliers to track Auctions, RFQ’s, PO’s, GRN’s, payment details; generate Sales Receipts, Shipments, and Invoices.
“SutiProcure provides essential information to ensure that goods and services are purchased from the right suppliers at the most competitive prices. This is a total electronic solution that completely eliminates paper and reduces procurement costs and time.” said N.D. Reddy, founder and CEO.
SutiProcure reduces procure-to-pay cycle times and eliminates tasks and costs associated with the manual purchasing process. The role-based access model provides a secure foundation and improves compliance to internal policies and controls.
The Shopping cart feature provides an online shopping experience to Buyers, allowing them to purchase Goods & Services from various Suppliers. Suppliers can be selected using the RFQ or Reverse Auction process. The Reverse Auction process enables buyers to purchase from new Suppliers across the globe. Buyers can pay either by using traditional payment options such as cash or check or pay online. Buyers are ensured that payment discounts are awarded when making payments.
Buyers pick and add Items to purchase from a comprehensive Supply Catalog. After adding items, a Requisition is automatically created. Buyers then can simply add the remaining details and send the Requisition for approval. The Approver views the Requisition details and approves or rejects depending on the company’s internal policies and their approval limit. Rejected Requisitions can be modified and re-sent for approval. Depending on the Sourcing technique followed, approved Requisitions are sent to RFQ’s or for Auction
Before sending a Requisition for RFQ, Supplier details are added. Suppliers will then add price details and send Quotation(s) to the Buyers for the RFQ. In the scenario of Reverse Auctions, requirements for Items are advertised on the login page in the form of Auctions. Accordingly, suppliers submit their bids for Items that they can supply.
A value analysis of the Quotation is performed; a new or existing Supplier is selected and the PO is generated and sent to the Supplier(s) for fulfilment. Supplier(s) review the received PO details and generate and send Sales Receipt(s) to the Buyer. When a Sales Receipt is sent, the corresponding Shipment and Invoice are created. The Buyer inspects the Received Goods and Invoice to confirm receipt of goods. A GRN is created and sent to the Supplier(s) notifying them that the goods have been received.
SutiProcure is available in multiple versions: Professional, Corporate, Enterprise and Unlimited. Visit SutiProcure for more info
Pricing starts at $15.99 per month per user.
SutiSoft develops a comprehensive suite of cloud-based business platforms and solutions for companies of all sizes. Our four SaaS platforms - Spend, HR, eSignature and CRM Platforms include scalable and easy-to-use solutions such as Travel & Expense, Accounts Payables, Accounts Receivables, Procurement, Supplier Relationship Management, HR, CRM, Document Management, Electronic Signature, Contract Lifecycle Management, and more. Our solutions enable SMBs, mid-market, and enterprises to cut costs, save time, and help in making smart business decisions. Headquartered in Sunnyvale, California, SutiSoft also has regional offices in Germany, India, and Japan. For more information, please visit our website https://www.sutisoft.com