Procurement & Contract Management
Customer: Leading Rating and Research Agency of India, part of a Global financial services company
The organization has a unique procurement process. The end users email excel sheets of items and quantities to the Central Purchase Team(CPT), which consolidates the itemwise requirement and floats it for pricing to its vendors who mention cost next to every item of the excel sheet and email it back to CPC. The vendor response is consolidated, comparison sheets are prepared , approval sought and orders are placed. All this was done manually causing delay and errors.
Clarification and information provided to one vendor had to be passed to all vendors to maintain transparency. Rate contract items had to be tracked for delivery and timely renewals. Vendor P-Q and rating functionality was crucial. This entire process needed to be automated.
The entire process was automated using various quickBPM components which ensured smooth execution of processes by system, calling next processes in sequence, deciding the responsible employee etc. The employees are reminded of their task through TaskTracker and a consolidated work desk ensures that all important activities are completed on time. Downloading/uploading excel sheets into/from structured database was enabled by quickBPM excel connectors and database. The items/pricing information which was floating in unstructured manner thru excel sheets and emails, got converted to structured system options. Comparison sheets generation became accurate and less time consuming.
Rate contract renewal is now system generated which helped reducing renewal delays. Data driven vendor rating helped in focused vendor development.
quickBPM improved efficiency and transparency of Procurement and Contract management significantly.
Customer now wants to automate ‘Legal agreement approval’ using quickBPM.