MeRLIN is a comprehensive Source to Procure Solution that allows for complete automation of your Strategic Sourcing activities to streamline procurement processes and bring more visibility and transparency by leveraging real-time data and advanced analytics tools.
End-to-end automation of sourcing activities shortens sourcing cycles
More informed sourcing decisions and quick turn-arounds results in cost savings and higher value
Enhanced visibility on sourcing needs and supply base with data-driven insights help mitigate risks and ensure uninterrupted supply
MeRLIN is a one-stop shop with robust and extremely flexible features to digitize all spend categories – Indirect Spend, Direct Spend, Service Procurement, etc.
No more chaos of paperwork and spreadsheets. Create a single source of truth for all your procurement data spread across disparate sources to ensure accuracy and efficiency of your sourcing process.
Increase Spend-Under-Management, view your sourcing patterns, supplier performance, payment terms, etc to identify unmanaged spend - maverick spend, rogue spend or tail spend, saving opportunities and areas of improvement.
Integrate your procurement with your ERPs and PLM/PDM tools to ensure seamless data flow across your systems.
Reduce manual errors, improve supplier collaboration & turnaround times with response templates and end-to-end automation.
Speed up decision-making using real-time data and analytics to analyse Spend, Savings, Suppliers, Variance, Bill of Materials, etc.
Simplify the process of creating and sending Purchase Orders to suppliers and manging the entire purchase order lifecycle - create POs from scratch or use already saved templates to re-order, modify, approve or cancel POs.
Follow up with your suppliers to expedite order and receive Advance Shipment Notifications (ASNs) from them on details of the delivery.
As we all know, procurement is the end-to-end process of acquiring third-party goods and services and making them available at the right place, right time and in the right quantity and quality.
The traditional procurement techniques rely on cumbersome manual processes. One typical scenario is of procurement buyers searching manually numerous supplier catalogs without being aware of any discounts or supplier reviews on quality or delivery issues and choosing the one that offers the lowest price.
Whereas, with digital procurement, procurement solutions can automate and streamline these manual, routine procurement tasks and freeing up the time of buyers to make the best purchasing decisions using data and analytics, delivering optimal value to the business.
Some of the major benefits digital procurement offers compared to traditional procurement are:
eSourcing or Source-to-Procure (S2P) is the process that creates supply channels that procurement teams use to acquire supplies for the organization. It comprises efforts to create and maintain a supply base ideal for the organization’s needs by vetting suppliers and maintaining supplier relationships. Hence, Source-to-Procure involves all the upstream activities starting from spend analysis, category management, identifying and evaluating suppliers, management of RFIs, RFPs and RFQs, supplier management to contract management.
eProcurement or Procure-to-Pay(P2P) which is also known as electronic procurement is the online process of purchasing products and services from suppliers. It involves processes such as requisitioning, generating purchase orders, receiving, and generating invoices and payments.
Source-to-Pay function is a procurement process that involves identifying and analyzing suppliers, negotiating with suppliers, awarding contracts, managing supplier contracts, ordering supplies and eventually releasing payments after accepting the delivery of the products.
Automation of the source-to-pay process offers several advantages such as making the procurement process more efficient, simplifying supplier management, reducing maverick expenses, mitigating risks, etc. Some of the most obvious benefits include:
A unified source-to-pay automation solution allows for a streamlined process across the complete S2P lifecycle.
An ERP stands for Enterprise Resource Planning system. It is used to manage business processes that are designed to enhance operations that connect many aspects of the company. Typically, the objective is to combine operations, like planning, finance, supply chain management, HR, inventory management and CRM into a single integrated system. However, when it comes to procurement management, ERPs provide only limited transactional purchasing capabilities and very basic capabilities for upstream activities such as sourcing and contract management.
On the contrary, an e-procurement system is designed to meet organizations’ procurement needs. It consists of in-depth features for managing sourcing, spend analytics, supplier management, and contract management that are integrated to make a single comprehensive solution. An e-procurement software allows users to gain total control and visibility over sourcing operations and demands. It assists in identifying cost-cutting possibilities and adopting a strategic approach for managing procurement. In other words, an eProcurement system complements your ERP and helps enhance the buying process.
Procurement digital transformation across the complete supply chain enables digitization of end-to-end processes from gathering and reviewing data on sourcing needs to promoting supplier relationship management to ensure quick and efficient procurement of goods and services.
Here are the top 6 advancements that are defining digitalization in procurement strategies:
Uncover meaningful insights from your sourcing data and trends that translates to new opportunities for savings and growth.
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