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Vendor management
• Maintenance of source list of vendors for each of the materials and services with automatic updation and amendment.
• Vendor Rating as per user definable criteria.
• Maintenance of vendor masters specifying purchase agreements, conditions of delivery, average annual purchases, credit terms and payment period.
Reporting
• Document registers for maintenance of day-to-day transactions.
• Comprehensive Purchase Information System to facilitate decisions on supply and delivery schedules
• MIS reports for periodic review.
• Line item tracking of each material in the procurement chain.
Managing Purchase Life Cycle
• Linkage of multiple purchase products with single inventory item.
• Creation of Purchase requisition documents manually as well as automatically by the Material Requirement Planning Process.
• Quotation Comparison functionality enabling informed choice among vendors.
• Creation of Purchase Orders, based on Purchase Requisitions, Purchase contracts and Quotations
• Purchase order revision, delivery schedule, and association of terms and conditions.
Invoicing
• Comprehensive bill passing procedure through invoice document enabling amount verification and payment processing
• Partial and subsequent bill passing for supporting Freight bills and Service Bill Passing etc.
• Automated verification of prices from Purchase order and Goods Receipt Document to ascertain, discounts, promotional offers, taxes and levies.
• Automatic creation of Purchase Voucher on authorization of an invoice, and its payable entry mentioning due date.
• Integration with payable management for automatic payment of due invoices.
Standard Reckoner Features
• Online Authorization of Documents
• True Workflow based system.
• In built Mail system.
• Alerts can be set in the system to monitor exception activities or events.
• Ensures people access only the information they need and are authorized to access.
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