iPOS Procurement Solution

iPOS for SunSystems is directed at organizations that emphasize the reduction of purchasing costs as well as the provision of quantifiable 'bottom line'savings to the company or organization.   iPOS harnesses the power of the web to let users avoid the limits imposed by hard copy requisitioning and approval and, at the same time, allows managers to see costs from requisition to payment.

iPOS utilizes a web browser together with the most up-to date technical advances to create a requisitioning system that is intuitive and easy-to-use.  The approach is crucial to achieving substantial cost reductions, operational efficiencies and an increased return on investment.

iPOS Features

iPOS purchase functions include self service requisitioning, catalogue searches, virtual business searching, creating purchase orders, work flow-driven processes, receiving goods, returning goods to suppliers, amending receipts, as well as supplier invoice entry and approval.

Easy-to-use and advanced entry forms.

Multi-layer approval matrices.

Exception authority.

Item selection from catalogues, my favorites, templates and previous items.

Instant purchase order number creation.

Unlimited requisition lines for multiple delivery addresses and multiple suppliers.

Purchase order consolidation.

Receive goods without the need for a purchase order.

Virtual entities for company contractors.

Powerful searches functionality.

Budget proofing.

Multiply commitments (soft and hard) and accrual postings.

Users validated with corporate and accrual postings.

Define items per supplier and define multiple supplier addresses for each item.

Unlimited internal delivery.

Some of the benefits of Requisitioning

Companies can benefit from a reduced cycle time and decreased operating costs.  Electronically transmitting orders to suppliers results in meaningful, substantive  cost savings.   This saves time for management, diminishes handling inaccuracies and delays, and eliminates tasks such as entry request duplication or hard copy approvals that do not add value.

Process Automation

iPOS addresses the loss of funds that can occur if items are bought at list price, rather than through the use of discounts applicable under a volume pricing agreement.  With iPOS, companies have the ability to funnel all purchasing activity through one system and use their preferred suppliers, therefore significantly decreasing  'maverick buying'.

Ease of Use

Because the iPOS requisitioning system is intuitive, convenient, and attractive to use, companies find that their employees are enthusiastic about working with it.   iPOS avoids the pitfalls that can occur when user adoption is limited.

Savings

iPOS can save money in two ways.  First, all purchasing lifecycle records are kept through self-service automation, eliminating the need for hard copy.  Second, contracts containing cost savings can be negotiated because price, quality and delivery data for purchases made at all localities are readily available on screen.   

Integration

Most requisitioning systems are not well integrated with financial systems making it difficult to obtain advantages that ought to be possible.  Because iPOS is tightly integrated with SunSystems, it is able to avoid this problem and optimize benefits.   

Self Service Simplifies the Process...

... and eliminates duplication so that the entire purchasing life cycle is easier and occurs more rapidly.  Because staff enter requests, double entry requirements are no longer needed.  Hard copy is eliminated and time is saved.     

Building the Business Case for Requisitioning

The benefits of using requisitioning systems are well publicized.  Sapphire suggests that two approaches are critical to making a business decision to implement one  —  the Process Model and the Compliance Model.

The Process Model estimates the cost of  an organization's purchasing process and multiplies by the number of invoices and orders made.  It  then uses this number as a base against which to measure savings.  The Process Model emphasizes economies in the time that is spent on inquiries, transaction states follow up, and time required for approvals.  Because the approach centres on time and motion , it can have problems.   

The Compliance Model standardizes the purchase policy and procedures, as well as the purchasing on the company's pre-negotiated terms and conditions. Savings occur because goods and services are bought only through the use of an automated process.

Savings Obtainable With Requisitioning

Productivity increased by process automation. 

Planned item catalogues deliver cost savings.

Payment integration reduces transaction costs.

Close integration with a wide variety of finance solutions results in the automatic incorporation of electronic payments and reconciliation therefore avoiding common problems when requisitioning and finance systems are not well coordinated. 

Virtual company searches facilitate service contractor selection.  .

Cradle to grave inquiry functionality.