Features
Feature-01
Vendor Portal
- Procuregenie’s responsive cloud-based centralized vendor information management repository gives you easy access to well-classified, simple import-export, and compliance-friendly vendor directories.
- Verification of valid PAN, GST, and Bank accounts to confirm a supplier as a legitimate entity avoiding Duplicate entries.
- Classification with HSN/SAC codes of business help you maintain information sanctity.
- Easy and simple to Integrate with the current ERP systems or other legacy systems. Quick and Audit complaint vendor onboarding process.
BENEFITS Of PROCUREGENIE
- Centralized Repository of all vendor data
- Cloud-based centralized vendor information management
- Registration and verification of suppliers
- Reduces the risks of duplication
- Ease of onboarding new suppliers
Feature-02
Workflow Automation
Procuregenie’s workflow Management solution provides increased visibility and control of the procurement landscape with high arrangements, dynamic cycle time tracking, and easy collaboration that facilitates superior workflow consistency.
- Rich workflow engine manages end-to-end procurement process, from requirements to e-payment, and allows setting up business rules on the item and amount
- Significantly improves procurement efficiency by automating administration, eliminating duplication, reducing time-to-procure, and increasing competence.
- Offers a flexible, fully customizable workflow model that can be set at any stage of the event
- Supports integration and includes a data-centric structure for greater insight and control, as well as rich analytics and refined management reporting options
Key Features
- Complete visibility and control on the process.
- Timely response to requirements with swift information exchange.
- Easy access to vital analytics. Time savings on the approval management by prescribed processes.
- Data repository for all interactions and transactions.
PROCUREGENIE BENEFITS
- Process Improvement
Cloud-based workflow engine manages end-to-end procurement process and improves process efficiency. - In-depth Reporting
Monitor & analyse actual v/s estimated event timelines & resource constraints - Financial Visibility
Approve financial objectives and budgets to connect performance metrics with business impacts
Feature-03
RFI Request for Information
- Procuregenie’s cloud-based platform connects teams who need to request information with those who want to respond, in a single digital workspace.
- RFI assists in gathering information from suppliers, which is typically the first step in the sourcing process.
- The evaluation consists of understanding specification items and working out values
- Beneficial when the items being procured are specialized, infrequent, or for the first time.
Feature-04
RFP Request for Proposal
- Gather technical and functional specifications from suppliers and organize data, and find the best vendor while maximizing value and minimizing risk
- Procuregenie’s RFP process is the workflow required to select the right vendor for procurement.
- Our RFPs platform help to ensure that vendor selection is data-based, strategic, and thoughtful
- Users can shortlist suppliers who demonstrate a capability to deliver as per required specifications and efficient timelines.
Feature-05
RFB Request for Bid
- Gather price quotations and automate bid collection and evaluations from your suppliers
- Procuregenie’s well-designed algorithm improves insight and control over bid management, ensuring a hassle-free, simple-to-handle process.
- Item specifications, order information, and contract terms are well communicated with acceptability confirmations on record.
- Create, list, and manage all your bids as per spend category to enhance your bid management strategy and healthy business practices.
- Commercial and technical information divisions allow a list of suppliers in order of best product and best value rankings.
Automate your Request for information, Request for Proposal, and Request for Bid with the Procuregenie cloud-based e-Procurement software
- AUTOMATE YOUR RFIs, RFPs & RFBs
- TRACK & EVALUATE
- SAVE TIME & COST
Feature-06
Key Benefits of ProcureGenie's Auction Engine
- Ease of Use and Implementation: Our intuitive interface ensures effortless navigation and API based architecture offers ease of integration and implementation, minimizing operational complexities and maximizing user adoption.
- Real-Time Negotiation Dynamics: ProcureGenie empowers organizations with the ability to engage in real-time negotiations with vendors, fostering dynamic interactions and facilitating agile decision-making.
- Security and Scalability: With robust security measures and scalable infrastructure, our platform offers peace of mind, safeguarding sensitive data and ensuring seamless scalability to meet evolving business needs.
- Time-Saving and Transparency: ProcureGenie’s e-auction platform streamlines negotiation processes, saving valuable time and resources, while ensuring transparency and compliance with stringent audit standards.
- Management of Multiple E-Auctions: Our software provides comprehensive support for managing multiple e-auction types and styles best suited to your procurement and disposal strategies, enabling organizations to efficiently orchestrate complex negotiation scenarios and optimize procurement outcomes.
Types of Auction:-
- Reverse Auctions with ProcureGenie:Empower your procurement strategy with ProcureGenie’s Reverse Auction feature. Streamline your sourcing process as sellers compete to win your business. Initiate auctions effortlessly, set your requirements, and watch as sellers bid competitively to secure your contract. With ProcureGenie, enjoy a transparent and dynamic bidding environment where prices decrease as sellers strive to outdo each other, ultimately ensuring you secure the best value for your procurement needs.
- Forward Auctions with ProcureGenie:Elevate your purchasing power with ProcureGenie’s Forward Auction capability. Engage in traditional auction formats where buyers compete to acquire goods or services from you. Start auctions with competitive prices and witness bids increase as buyers vie for your offerings. With ProcureGenie, capitalize on a platform that maximizes your revenue potential, ensuring you achieve optimal returns for your products or services.
- Japanese Auctions with ProcureGenie:Experience innovation in auction dynamics with ProcureGenie’s Japanese Auction feature. Explore a unique variation where items are offered at high prices, gradually decreasing until a bidder decides to make a purchase. Benefit from a platform that optimizes pricing strategies, attracting buyers with its dynamic pricing mechanism. With ProcureGenie, leverage the power of Japanese auctions to enhance sales and drive customer engagement.
- Dutch Auctions with ProcureGenie:Unleash the potential of Dutch Auctions with ProcureGenie’s cutting-edge platform. Dive into descending-price auctions where the initial high asking price decreases until a bidder accepts the current price. Experience the flexibility of selling multiple units of the same item at the same price, maximizing your sales volume and revenue. With ProcureGenie, harness the efficiency of Dutch auctions to optimize your selling process and achieve unparalleled results.
Our Creative BullsEye auction:-
Introducing BullsEye Auctions by ProcureGenie – revolutionizing guided sourcing with real-time transparency and competition.
- Visual Clarity: Yellow, Light Blue, and Dark Blue BullsEye icons signify bid competitiveness, providing guided winning approach to suppliers.
- Real-Time Bid Ranking: In the final 5 minutes, suppliers receive rankings, empowering informed decisions and enhancing competition.
Benefits:
- Supplier Empowerment: Clear standings aid strategic bidding.
- Enhanced Competition: Motivates suppliers to submit competitive offers, potentially lowering prices.
- Buyer’s Advantage: Competitive environment increases chances of securing optimal deals.
Utilization:
- Enable “BullsEye Auction” option.
- Customize BullsEye color values.
- Monitor increased competitiveness and pricing outcomes.
In conclusion, BullsEye Auctions with real-time ranking on ProcureGenie ensure fair, competitive procurement, benefiting both suppliers and buyers.
Feature-07
E - Catalogs
From catalogue to cart – Procurement is as easy as Online shopping
- Procuregenie’s cloud-based procurement solution offers to simplify the e-procurement process by providing a predefined set of products (the catalog) for purchase
- Our e-catalogue offers a simple, easy-to-use B2B eCommerce-style Integration with suppliers’ offerings for the latest products and prices.
- With vendor registration and data integration, product information and pricing can be updated instantly across all catalogs which significantly reduces workload and management overheads.
- Build, track, and manage your e-procurement catalog to reach minimum inventory while ensuring a clear ROI.
Procuregenie Catalogue delivers:-
- Easy, scalable, and secure procurement for users
- Customizable categories with detailed product descriptions
- A centralized library offers complete access via a single browser for fast response
- Place orders using an efficient and automated purchasing platform
Feature-08
Source-To-Order / Source-To-Pay
An integrated Procure-to-Pay solution
- Our Source-to-order/Procure-to-pay are uniquely integrated procurement flows that begin with searching, negotiating, and contracting with a supplier of goods and end with the final payment for those goods.
- Starting with vendor enrolment and pre-qualification, moving on to RFPs to agree on specifications and contract terms, RFQs to agree on price and payment terms, issuing purchase orders and paying invoices until the terms are completed
- Procuregenie’s S2P provides a 360-degree view of the procurement cycle, assisting your organization in increasing spend visibility and improving the overall procure-to-settle process
- Our automated sourcing software contributes cost excellence by helping the organization to save time, money, and resources
Procure-to-Pay Simplify Your Procurement Lifecycle
- Easy to Deploy
- Easy to Learn
- Easy to Use
BENEFITS:-
- Simplify your purchase requisition and order processes
- Active control and maximize spending under management
- Gain complete visibility of your entire procure-to-pay processes
- Streamline catalogue maintenance to save time and resources
- Rapidly enable the approval of new suppliers
- Drive bottom-line savings to maximise the value of sourcing negotiations
Feature-09
Dashboards
A digital overview of your procurement process
- Procuregenie’s smart dashboard visualizes data in easy-to-understand, company-wide procurement and spending charts for users to comprehend and analyze.
- Our dashboard plays interactive assistance to tasks, notifications, to-do, call-to-action, scoring progress, and more with a suit to self-configurable panels.
- Procuregenie offers complete visibility to all the stakeholders from the Sourcing team to decision-makers through interactive dashboards.
- A comprehensive dashboard that provides real-time status updates to fast-track your procurement lifecycle
BENEFITS:-
- Real-time overview of your events
- Timely updates and notifications
- Complete visibility on your Procurement lifecycle
- Measure Lead Time and accurate reporting
- Visualize key metrics