Learn how PurchaseSmart can be your
end-to-end solution.
Q:
Who can create requisitions using PurchaseSmart?
A: Requisitions
can be created by anyone in the organization who has been given
the authority within the system. That person can be a buyer,
or a user who is not part of the purchasing function and needs
to request goods or services. PurchaseSmart's oversight and
approval process can be adapted to your business processes to
ensure that requisitions initiated outside your purchasing department
are reviewed, controlled and processed efficiently. back to top
Q: Can you give
an example of the requisition approval process?
A: Requisitioners
can be authorizers with a specific spending limit or they can
be required to have all their requisitions go through an approval
process. In this case, approvers are set up for that requisitioner,
as a chain of command. As the approval process progresses, the
first approver with a high enough approval limit (higher than
the requisition value) causes the requisition to be authorized.
At that point, the approval process is complete, and the purchase
order can be issued. back to top
Q: Can PurchaseSmart
manage catalogs?
A: Yes. Catalogs can be managed within PurchaseSmart
in a number of ways.
The simplest is to receive catalog information from a supplier
electronically, and import it into PurchaseSmart using its
internal Integration module. Additionally, PurchaseSoft provides
a Supplier Interface, in its WebQuote product, where suppliers
can set up their own contact information and "remit to"
addresses. back to top
Q: How does PurchaseSmart
support supplier contracts?
A: Buyers can set
up contracts with suppliers enabling requisitioners to quickly
create requisitions for contracted items. The buyer negotiates
a contract price for an item, or group of items, and whenever
these items are requisitioned, the negotiated contract price
is automatically applied to the requisition. When the requisition
needs to be converted into a Purchase Order, PurchaseSmart applies
the contract price automatically, without requiring additional
buyer intervention, since the source of the item and its price
has been pre-negotiated. back to top
Q: What information
can buyers access once a requisition is approved?
A: Once a requisition
has been authorized, it is made available to buyers. The buyer
sees which requisitions have been approved, and waiting to be
ordered. The buyer can also review the requisitions and its
items, select suppliers if the items have not already been sourced,
and either create purchase orders from the requisitions, or
convert the requisitions into RFQ's, which starts the sealed
bid/auctioning process. back to top
Q: How are purchase
orders issued?
A: Once purchase
orders have been created, they can be issued to suppliers as
email, faxed, or mailed documents, or directly to the supplier
order entry system via an XML Server. In the second case, the
output of the PO information from PurchaseSmart is mapped directly
to the supplier's internal system. back to top
Q: Do buyers have
the flexibility to add attachments or other critical data?
A: Users can enter
text at the Header and Line Item level, import text, enter information
into user-defined fields, split account distribution and store
as many attachments as required. back to top
Q: How does PurchaseSmart
track receipt of goods?
A: Users can enter receipt information against purchase
orders within the PurchaseSmart application three ways:
Desktop receiving is available for those users of the
self-service browser based requisitioning module. These
users typically require small items or items of small value.
The PurchaseSmart module supports Central receiving, when
one or more receiving docks are used. A Receiver, who is
typically not the originating requisitioner or a buyer,
enters receipts into the system. This module provides more
functionality than the desktop receiving method, such as
printing receipt tickets, processing return of goods, closing
orders short, storing receipt text and notes.
The PurchaseSmart Integration module can import receipt
information from another application directly into PurchaseSmart.
When a receipt record is imported successfully, and the
receipt quantities match the PO Line quantities, the PO
Line is closed and supplier performance is updated. The
purchase order itself is closed if there are no more outstanding
receipts for that PO.
Q: What receiving
activities does PurchaseSmart support?
A: PurchaseSmart
Receiving supports partial deliveries, returns, receipt tolerances,
printed receipt tickets, and on-line inquiries. A user needs
a separate Receiving security in order to enter receipt information.
When receipt quantities match the order quantities, the Purchase
Order line is closed. back to top
Q: Can PurchaseSmart
handle RFQs?
A: Yes. PurchaseSmart
can be expanded to include a web-based RFQ system, which interacts
with suppliers over the Internet to provide real-time pricing
and bidding information. Successful bids can then be converted
to Purchase Orders within PurchaseSmart.
RFQs can be issued as sealed bids, where the suppliers have
one opportunity to offer their best price, or as reverse auctions,
where suppliers can bid against each other until the auction
event reaches its time limit. back to top
Q: How does PurchaseSmart
help me respond to RFQs?
A: When the time
limit for the RFQ responses has been reached, PurchaseSmart
closes the bidding process, and automatically generates quotations
from the bidding suppliers. These quotations can be analyzed
using our Bid Analysis tool. The buyer can then create Purchase
Orders in one step. back to top
Q: Can PurchaseSmart
help me keep track of company assets?
A: Yes. PurchaseSmart's Asset Tracking module records
assets items as they are received and provides you with complete
information on all your fixed assets, from the time they are
received, until the time they are disposed off.
The Asset Tracking module
Creates asset records as asset items are received in PurchaseSmart
Tracks warranty information
Tracks leasing information
Transfers assets from one location or department to another
Optionally prints asset tickets
Maintains current asset values through straight-line depreciation
A: Yes, PurchaseSmart provides an optional Inventory
system, which is fully integrated with the other modules in
the application. Features include the ability to:
Track inventory in multiple warehouses so excess inventory
is utilized and automatic replenishment averted
Support two costing methods (average costing and standard
costing)
Support reorder points and reorder quantities. When on
hand quantities reach a pre-defined reorder point, the Inventory
System will generate its own Purchase Requisition.
Alerts users when items become out of stock, zero are
available, or the on hand quantity is below safety or above
maximum stock
Support transfers and adjustments
Create a complete transaction record, that can be analyzed
and reported on at any time, for a full audit trail of inventory
activity
Identify available inventory at requisition level. When
users create a requisition for items already in inventory,
PurchaseSmart identifies the product availability and enables
allocation and release of in-stock items versus requisitioning
new ones.
Update on-hand quantities based on receipt information
A: PurchaseSmart
has its own Invoice Matching module that compares supplier invoices
to existing purchase order and receiving information stored
within the application. PurchaseSmart can be set up to match
invoices either three ways - purchase order, receipts and invoice
- or two ways - PO to invoice or receipt to invoice. When invoices
are matched, they can be uploaded to an existing Accounts Payable
system for payment. back to top
Q: How does PurchaseSmart
facilitate payment to suppliers?
A: When an invoice
has been matched, the information can be transmitted to an Accounts
Payable system, so the invoice can be paid to the supplier.
The PurchaseSmart application does not provide payment to the
suppliers, but sends pre-approved invoices to a third party
Accounts Payable system. That way, you have complete control
over cash flow. back to top
Q: How does PurchaseSmart
support strategic sourcing?
A: PurchaseSmart includes a wide range of customizable
analytical tools that give procurement managers the insight
they need to effectively support strategic sourcing, including:
Q: I want to run
several kinds of reports. Is PurchaseSmart flexible enough to
support my needs?
A: Yes. Ad hoc reports
can be run directly from PurchaseSmart or from the database
using a standard report writer. PurchaseSmart also includes
its own pre-formatted reports and analyses for all the modules
it contains. Users can build their own spreadsheet views of
the information stored within PurchaseSmart, complete with dynamic
drill down views and the ability to open up individual documents,
such as purchase orders, directly from the application. back to top
Q: Can I easily
export information from PurchaseSmart into other applications?
A: Yes. PurchaseSmart
can export information directly into Excel spreadsheets, which
can then be additionally analyzed, mailed to other users, merged
into Word documents, and so on. In addition, third party report
writers like Crystal Reports can directly access the database
information, without having to go through the PurchaseSmart
application. Therefore, you have all the tools required to design
and build reports, store them, and run them at any time. back to top
Q: How can I learn
more about PurchaseSmart?
A: If you have any
questions about our PurchaseSoft application or want to know
if it is the right solution for your business, please request
more information or call us anytime at 800- 818-6545. back to top
