Procurement Management

Procurement Management Software

Leverage the unified procurement management framework, built on NewgenONE—a low code digital transformation platform—to optimize and manage the end-to-end purchasing process seamlessly. Tap the solution’s built-in capabilities to manage critical processes across the procurement cycle, including requests for quotes (RFQs), pricing & discounts, purchase planning, ordering & requests, purchase orders (POs), delivery & scheduling, and open orders & budget accounting, portal-based quote/bid submission, final invoicing, and disbursement of payments. Integrate with different ERPs, third-party systems, and legacy applications to gain detailed insights into complete lifecycle of transactions and maintain reliable, risk-free operations.

Solutions for Supply Chain

Purchase Requisition (PR) to Quote Comparison

Quick creation of purchase indent
Easy classification of purchase requisitions
Guided vendor selection
Simplified quotation creation
Purchase requisition generation based on inventory and approvals
Vendor portal-based submission and comparison of quotes
Auto-ranking of vendor quotes for informed decision making

Bid Management

Online bidding against non-satisfactory vendor quotations
Options for selecting a specific set of vendors for bidding
Bid duration settings for each request
Auto alerts and notifications
Bid submission via portal, with visibility into bid ranking and status

Contract Lifecycle Management

Real-time audit of contracting actions
Smarter contract authoring and information tracking
Options for inviting counterparty for collaborative negotiations, minimizing TATs
Contracts signing and distribution to relevant stakeholders
Robust tracking of obligations, performance, and renewals with intelligent governance

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Vendor Onboarding and Management

Configurable business validation rules to avoid fraudulent requests
Options for blocking/unblocking specific vendors based on the final decisions
Dynamic approvals based on predefined business rules
Smart communications to relevant stakeholders
Robust integration with ERPs
Exception handling and comprehensive auditing

Purchase Order

Generation of purchase orders, acknowledgment, and award letters
Instant pushing of PO details into ERP applications
Reverse update ERP purchase order number to workflows
Alerts and notifications to vendors on successful generation of POs
Real-time visibility into open purchase orders on the portal

Inventory Management

Creation of advance shipment notice based on electronic notifications from vendors
Timely communications with vendors in case of delayed shipments
Robust integration with ERP to post goods receipt notes (GRNs)
Visibility for vendors against processed GRNs on the vendor portal
Intuitive dashboard for real-time status and updates

Invoice Processing

Multi-channel capturing of invoices
AI-powered classification and multi-engine extraction of invoices
AI-powered de-dupe checks
Image-assisted validations and fuzzy matching
Exception management, approvals, and payment management
Robust built-in rules for touchless processing of invoices
Seamless communication and query management with vendors via the vendor portal
Strict adherence with local and global laws & regulations

Vendor Portal

Approval-based sign-up for vendors
Smooth submission of invoices with detailed tracking
Instant response mechanism against invoice-related queries
Self-transaction initiation and tracking by vendors
Seamless management of vendor documents

Success Stories

Streamlined contract management

The US-based multinational corporation had a manual process of creating and managing contracts and no centralized...

Decreased process cycle times by 50%

The client, a privately-held Dubai-based conglomerate, leveraged Newgen’s robotic process management suite to automate...

Improved processing efficiency by 60%

A global alcoholic beverage manufacturer streamlines their accounts payable and receivable processes to reduce...

Where are you in your digital transformation journey?

Problem Identification

We have compiled tools and documents to help you in your journey. Knowing that “what you see depends on where you stand,” we have something for you, as a line-of-business operations in-charge, an IT leader, or a C-level executive, for your industry-specific needs.
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Solution Exploration

At this stage, you might find that the available technology/solution is going beyond your initial expectations in terms of scope. This is also the stage of building consensus among your peers for your industry-specific needs, whether you are a line-of-business operations in-charge, an IT leader, or a C-level executive.
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Requirement Building

This stage is all about looking beyond features and functions. After all, addressing just the immediate need can translate into “short term gain but long-term loss.” Invest in a technology that solves for your today’s needs and is extensible and configurable for your unknown future needs. As a line-of-business operations in-charge, an IT leader, or a C-level executive, you don’t want to go through the same process in another 2-3 years !
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Vendor Selection

It all comes down to choosing the right partner. Their innovation history, industry focus, local presence, support services, partner ecosystem, technology strength, cost effectiveness, customer references, risk rating, and lot more needs to be evaluated. As a line-of-business operations in-charge, an IT leader, or a C-level executive, you are all evaluating them from your unique perspectives!
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Solution Optimization

That feeling of achievement and relief after a successful, on-time, in-budget project is all what you look for. Believe us, the feeling is mutual. As a line-of-business operations in-charge, an IT leader, or a C-level executive, make sure you celebrate the milestone, recognize everyone who made the project successful, and identify your additional digital needs.
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