Helping Businesses to Manage Purchasing Operations

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Purchase management is a step-by-step process for purchasing goods and services for your organization that includes budget approval, bidding process, selection of right vendors, confirming PO, receiving the shipment, receiving vendor bills, and paying the vendor. The purchasing process is complex and needs a powerful solution that helps companies manage it more effectively.

O2b Technologies is helping organizations to manage their procurement operations by providing robust purchase management software. We provide open source purchase order management software that helps them streamline the whole process from budget allocation, selecting the right vendor, RFQ creation, confirming PO to shipment reception, vendor bill management, and paying the vendors. Further, this application automates the procurement process that improves operational efficiency.

Seamless Purchase Management

Purchase management is considered one of the most complicated business functions to manage. The procurement process includes multiple phases like:

  • Identifying the need of the procurement of the goods
  • Selection & evaluation of vendors
  • Sending RFQs to vendors
  • Confirming RFQs to become a PO
  • Receiving shipment from vendors
  • Running quality checks while receiving goods
  • Receiving the bills
  • Making the payment as per the agreed payment terms

Handling such crucial business functions is difficult when it is carried out manually. This is the reason, organizations should use smart and advanced purchase management software.

Our amazing purchase management software open source helps businesses manage, automate, track, and control the entire procurement process Right from selecting vendors, generating RFQs, sending POs to product reception, and vendor bill management.

Automate Purchasing Workflow

Automation of the purchasing process helps to save time and makes the process more efficient. Let's have a look at the automation features of the O2b Technologies’ purchase software:

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  • Our purchase management software enables you to automatically send a request for quotation (RFQs) to vendors based on your inventory levels.
  • This system has procurement rules that facilitate automation, these rules depend on the stock levels, sales orders, buy, MTO etc.
  • Its reordering rule and min-max rule are the ones that drive the purchase workflow automation and save your valuable time.
  • When you define these rules, the purchase management software will automatically raise the RFQ for the products that have a low stock level.
  • This purchase management solution helps you avoid horrible circumstances like being out of stock or overstocking.

Key Features of Our Purchase Management Software

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Vendor Price Lists & Product Availability

You can make better purchase decisions by comparing the vendor price lists.

  • Choose the vendors who are offering the best prices
  • Simply import suppliers' price lists and references.
  • Make the most effective purchase decisions.
  • View and track the availability of products in the vendor's stock.
  • Manage and track your order status.
  • Have multiple types of vendor contracts (short-term agreements as well as long-term)

Effective Product Management

This software has made product management simple and more efficient, you can add as many products to the system and manage all of them efficiently.

  • It has a Product menu that has two sub-menus, i.e, Products and Product Variants.
  • Get a complete overview of all the products at a glance.
  • Also, you can instantly find the products using the filters.
  • Effortlessly create new products using the 'Create' button.
  • Add the product name, price, image, respective vendor, product type, product category,etc.
  • Also, create product variants, define procurement rules, and more.
  • Procure a single product from multiple vendors at a time by adding multiple vendors for a single product

RFQ and Purchase Order Processing

Effortlessly create RFQs manually or they can be raised automatically if you define the procurement rules.

  • Set up the reordering rule/min-max stock level, the system automatically creates the RFQ for the products that reach the predefined minimum stock level.
  • Easily send the RFQs to your suppliers through emails with just a single click
  • The email generated by the system will have predefined content and the RFQ will be attached to it in a PDF format.
  • Also, if you want, you can print RFQ documents and send them by post.
  • Once you get the vendor approval on the RFQ you can confirm it and it will be converted into purchase orders immediately.
  • The receipt will be generated automatically, when you receive the item you can click on the receive products button.
  • Validate the received products if you receive the right quantity.
  • The return and scrap notion is also available if required you can use these options too.

Vendor Bill & Payment

Along with the purchase orders, you will be able to manage vendor bills and payments more effectively.

  • Go to the 'Control' menu and you will see the vendor bill option, here you can create vendor bills.
  • Easily process the invoices automatically by adding the purchase order in the record. It will populate all the relevant information related to the defined product order.
  • Further, you can validate and make payment to your vendor.
  • All things considered, our purchase application automates invoicing operations and saves time.

Integration with other ERP Modules

This open-source purchase order management software integrates with other modules to bring in more advanced features and functionalities. Integration with other applications also facilitates the automation of the procurement process.

Integrate Purchase Management Application with:
  • Sales
  • Inventory
  • Accounting

Manage Advanced Operations

Advanced procurement operations like drop-shipping, blanket orders, and make-to-order can be managed by using this smart purchase management software.

Drop-Shipping

This procurement operation helps you deliver the goods to your customer location more efficiently. If you do not want to store the item in your warehouse, you can ask your vendor to deliver the item directly to your client's location. It will save time, costs, as well as your extra effort.

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Buy Routes

The buy route operation is carried out when you want to maintain the physical inventory of a product. This route is followed to maintain a certain stock of products so that the same can be delivered to the customer as soon as you receive the orders. Simply put, when you want to deliver the goods from your stock on demand rather than buying after getting orders.

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Blanket orders :

It is a type of agreement, here you have the long-term contract with your vendors. They will provide you with the products for the long term at a fixed price. To put it another way, the suppliers will sell you the product at the pre-decided prices, it will not matter whether the price of the product will increase or decrease.

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Make-to-order ( MTO)

Our PO system supports MTO, this advanced procurement routing helps you manage special orders or huge orders. To put it another way, this operation can be performed when you receive a special order from your client and you will need to purchase those goods immediately to fulfill the customer's orders. In this case, you can choose the MTO route.

FAQs

1Why do I need Purchase Management Software?

To ease out the complicated purchase operations, the clients need to opt for Purchase Management Software.

2What type of information and documents can I source from Purchase Management Software?

Our purchase management software helps you generate the overall information and documents like the list of the items, quantity, cost, delivery date, vendor details, etc. that earlier you were kept manually. The software makes the complete process automated.

3Will my warehouse team be aligned through your Purchase Management Software?

Yes, every team is involved in the purchase operation having the access rights for the software will remain aligned always.

4Is this software cost-effective?

Yes, it is. After implementation, the complete purchase management will become automated which helps in saving valuable resources like time & money. Also, the purchasing team can involve themselves in some other tasks.

5Will this software gives reminders for dues and pending payments?

Yes, this software gives an alert for the bills and payments.

6 How O2b Technologies’ purchase management software is better than others?

O2b Technologies’ purchase management software is developed by teams of certified experts carrying years of experience which reduces the chances of bugs and errors from the stage of development to delivery.

7Does your PO management support RMA (Return Material Authorization)?

Yes, our purchase management system supports RMA (Return Material Authorization).