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Procurement & Vendor Management

Streamline Purchasing and Strengthen Supplier Relationship  

SoSME ERP’s Procurement & Vendor Management module automates and optimizes the full purchasing cycle — from requisition to payment — while enabling smarter vendor decisions through performance tracking and compliance controls

01

Vendor Management

  • Vendor Master Database
    Maintain a centralized vendor directory with detailed profiles including contact details, tax IDs, bank accounts, payment terms, categories, and contract history.

  • Vendor Classification & Grouping
    Segment vendors by type, product category, location, or strategic importance for easier management and reporting.

  • Onboarding & Compliance
    Manage onboarding workflows, collect documentation, and enforce validation checks for tax, regulatory, or banking information.

  • Performance Monitoring
    Track supplier KPIs such as delivery accuracy, lead time, quality ratings, and dispute history. Generate scorecards and trend analysis.

  • Contract & Document Management
    Store and manage supplier contracts, certifications, and communication history with digital archiving and expiry reminders.

  • Vendor Self-Service Portal  
    Enable vendors to update profiles, submit invoices, track payments, and respond to RFQs through a secure online portal.

  • Vendor Communication Tracking
    Log all email, phone, and system interactions in one place — improving transparency and accountability.

02

Purchasing Management

  • Purchase Requisition & Approval Workflow
    Employees or departments can raise purchase requests with automated approval paths based on cost centers, budgets, and hierarchy.

  • RFQ & Quotation Comparison
    Send Requests for Quotation (RFQs) to multiple vendors. Capture responses, compare price and delivery terms, and convert winning quotes into purchase orders.

  • Purchase Order Management
    Generate purchase orders manually or automatically. Track PO status, revisions, vendor acknowledgments, and expected delivery dates.

  • Recurring Orders & Blanket POs
    Handle long-term supply agreements or recurring purchases with automatic order generation and tracking against quantity or value limits.

  • Spend Control & Budget Integration
    Prevent over-purchasing with real-time budget checks, spend visibility, and alerts when limits are exceeded.

  • Purchasing Reports & Insights
    Analyze procurement performance with reports on purchase trends, vendor lead times, PO cycle time, and category-wise spend.

  • Integrated with Inventory, Finance & Vendor Management
    Real-time updates to stock, GL accounts, and vendor records ensure consistency across your ERP.

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