SutiSoft announces SutiProcure v2.1, a new release of its online procurement solution that helps automate the entire procure-to-pay cycle.
Los Altos, CA (Vocus/PRWEB) Aug 24, 2011
SutiSoft Inc, a trusted provider of hosted and enterprise solutions today announced the release of SutiProcure 2.1, an online eProcurement solution enabling employees to procure Goods & Services from the right Suppliers’ at the most competitive prices.
SutiProcure help reduce the use of paper and eliminates many of the tasks and costs associated with the manual purchasing process. The solution significantly reduces the time required for creating, sending and tracking Purchase Requisitions, Requests for Quotations (RFQ’s), etc. The solution provides a secure electronic repository for storing all documents involved in the purchasing process from Requisitions to Payment Receipts. The role-based access model provides a secure foundation and improves compliance to internal policies and controls.
Create Requisition with Supplier
A Supplier for a Requisition can be selected at the time of Requisition creation. Upon approval, Purchase Orders for these Requisitions can be created directly.
Flexible Approval Options
Approvers can approve a Requisition directly from the email notification using the Approve & Reject options provided or from within the solution. SutiProcure integrates with SutiSoft’s eSignature solution ‘SutiSign’ for built-in eSignature approval of Requisitions.
The Reverse Auction feature allows the Requester to purchase goods & services from new Suppliers. After reverse auctions are displayed on the SutiProcure page, new Suppliers can submit their bids for items that they can supply. Bids received are evaluated and new Suppliers can be selected.
The Inventory Management feature allows Requestor to inspect Received Goods, send GRN’s to Suppliers, track all transactions and monitor On-Hand Quantity levels in warehouses.
Notifications for Receiving Items
Email notifications can be configured to be sent to the Requester and Inventory Manager upon receiving items to inventory.
GRN’s generated upon receiving items for a Purchase Order can be sent to the Supplier along with the inspection status of the received items.
Flexible Invoicing Options
Invoices for Purchase Orders can be uploaded as attachments or can be created from within the SutiProcure solution. Invoices uploaded can be later approved by the Requester.
Add Quotation from Email
On receiving details of an RFQ, Suppliers can directly add/update Quotations for RFQ’s using the option provided within the email notification.
How it Works
Buyers pick and add Items to purchase from the comprehensive Supply Catalog. After adding Items, a Requisition is automatically created. Buyers add required 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 the user’s approval limit. Rejected Requisitions can be modified and re-sent for approval. Depending on the Sourcing technique followed, approved Requisitions are sent to RFQs or for Auction.
Before sending a Requisition for RFQ, the Supplier details are added. Suppliers add price details and send Quotations to 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, supplier’s can submit their bids for the items requested.
A value analysis of the Quotation is performed, a new or existing Supplier is selected and the PO is generated and sent to the Suppliers for fulfilment. Suppliers review the received PO details, and generate & send Sales Receipts to the Buyer. When a Sales Receipt is sent, the corresponding Shipment and Invoice are created. The Buyer inspects the Received Goods and confirms the receipt of goods. A GRN is created and sent to the Suppliers notifying them that the goods have been received. The Buyer validates the PO, Invoice, and GRN. If matching is successful, the Supplier paid for the Items accepted
SutiProcure is available in multiple versions: Professional, Corporate, Enterprise and Unlimited.
SutiSoft Inc. is a privately held company founded by N.D. Reddy, a successful Entrepreneur with over 30 years of experience in both the Hardware and Software industry as a Founder, and CEO. The Company's leading edge enterprise/SaaS application software products range from business productivity solutions such as Electronic Signature, Expense Management, Document Control Systems, Governance, Risk and Compliance, Security Solutions and others. The company's products are developed using Java, Flex, HTML 5, AJAX and other cutting-edge technologies which allow SutiSoft to retain its core values which are Simple, Scalable, Secured, and Seamless. Headquartered in Los Altos, California USA, SutiSoft has offices in Northern California, India, Germany and Japan.
Additional information is available at SutiSoft