8MSaaS provides the most advanced and comprehensive procure-to-pay (P2P) solution on the market. It uses a combination of real-time business protocols & mobile internet technology to leapfrog procurement efficiency and control.
- Open Recruitment for New Suppliers
The enterprise can use 8MSaaS e-Campaign to publicize its open recruitment of new suppliers in its Open Recruitment webpage. All suppliers who are interested can fill in the information on the Open Recruitment webpage and scoring and pre-qualification will be done automatically and the new suppliers can be instantly become pre-qualified suppliers.
8MSaaS provides e-Questionnaire & Scoring tool to allow the user to setup different questionnaires, assign different weights and setup different scoring methods for different open recruitments for different types of suppliers at different times. Once the rules, questionnaire and scoring methods are setup, all the interactions and result recordings are automatic.
- e-Tender Interface
An e-Tender can be automatically generated from a e-Purchase Requisition and the corresponding suppliers information can also be automatically carried over. Using e-Tender, the enterprise’s tendering team and the suppliers can do issuing tender documents, tender quires, tender amendments, receiving tender responses, tender negotiations and final decision announcement interactively online. e-Tender also supports the enterprise to do supplier long list to short list, tender rule settings, approval, budget control, opening, evaluation online.
- Quick e-Quote
The enterprise can use PC or mobile apps to Request for Quote and obtain quotes from the suppliers in real-time. The system will control the quote submission period and will not accept submissions once the period is over. The quotes can be automatically stored in Quotation Master or used for the specific Automatic Quote Comparison or Tender Evaluation according to the preset rules. If Reverse Auction is applicable for the situation, the user can choose to do real-time reverse auction to encourage the suppliers to bid down on the prices. Once a final quote is selected, the Purchase Requisition together with the final quote can be automatically converted to e-PO.
- e-PO & Delivery
In the 8MSaaS Straight Through Procurement environment, the supplier will automatically receive the e-PO once it is generated and approved. The supplier can review the e-PO and then do confirmation. Once the e-PO is confirmed, the supplier can generate delivery notes from the e-PO and the enterprise can arrange for delivery inspection and acceptance and the quality issues, accepted & returned quantities and warehouse information will be automatically captured in the 8MSaaS database and reflected in the e-PO.
- e-Invoice & e-Payment
Once the e-PO is confirmed, the supplier can automatically generate e-Invoice according to the payment terms defined in the e-PO and the e-Invoice will be automatically sent to the enterprise. The e-Invoice will trigger the Invoice Received approval process in the enterprise and once the Invoice Received is approved, the corresponding Payment Request will be automatically generated and if the Payment Request is approved, then the payment will be sent to the supplier automatically.
- e-Contract & e-SLA
An e-Contract can be automatically generated from the e-Tender after the final selection is complete. The user can specify price, deliverable, due date, Service Level Agreement (SLA), penalty, payment term and renewal information in the e-Contract. Once the e-Contract is setup, the supplier can start delivering according to the deliverable milestones defined in the e-Contract and delivery will automatically trigger review and acceptance on the enterprise side. The e-SLA results will be automatically captured and calculated in real-time based on the preset criteria. If an e-SLA result triggers a penalty, the penalty amount will be automatically aggregated and reflected in the Profit & Loss of the e-Contract.
Both e-PO and e-Contract support payment terms, credit notes and adjustments. Multiple and/or special settlement methods which are supplier or product specific can be customized and linked in.