FutureGateway Procurement Management System (PMS)

FutureGateway Procurement Management

Future Gateway Procurement management is the systematic approach used for buying all the goods and services needed for a company to stay sustainable. Manage your procurement well, and it will add value to all your business practices and save you both time and money.

Major themes

Budget Management – When the company needs goods/services budgeted for the next financial year, the company’s needs must be identified in order to choose which type of service or product will fit best. Then the buyer needs to find them at the best quality for the best price while also making sure the supplier is able to deliver.

Procurement Plan – Using this functionality the company department needs for goods/services, they can create a plan using the futuregateway PMS according to the approved budget.

Supplier Registration – Using the Internet or your supplier databases, you assemble a list of all potential product and/or service providers. Sometimes it’s useful to run RFIs or gather additional information, like years on the market and turnover rates, to pre-qualify suppliers.

Procurement Requisition – To make sure you buy the products or services under the best conditions – price, quality, etc. – you request proposals. Based on the results, you know with whom to start negotiations. The RFPresults can be considered an overview of current market capability.

Procurement Allocation – To achieve the best conditions regarding prices, terms and delivery, you negotiate with suppliers. It’s especially essential if it’s the first time you are working with them. This process can help you evaluate their trustworthiness as well.

Contracting – If both parties, the buyer and the supplier, agree on all terms (pricing, delivery, quality, etc.) you can make it official by signing a contract.

Delivery – Throughout the delivery process, you need to evaluate the products and services delivered to ensure they are what you had planned to buy, they meet your quality standards, they arrive on schedule and you are charged the prices outlined in the contract.

Analyzing results – Once the project is complete, it is essential to analyze the process and evaluate its success as well as record observations for future projects. You may need to present the outcomes to company management or relevant stakeholders. The results can be used the next time you need to make a similar purchase.

FutureGateway procurement management system is powerful, easy to configure, and provides a quick return for companies seeking to reduce cost and overhead

Using a simple style interface, which is incorporated all PPDA aproved forms and formats which will allow a staff can request the purchase of goods or services without needing any understanding of the business’s
underlying cost allocation or finance processes.

Requisitions can be for multiple suppliers, may have dependencies on linked items to avoid accidental spending and are checked against available budget.
Business rules control extensive approval delegations such as value, department, cost centre, location and purchase type. Using either a browser or their mobile device, people can approve requisitions within their delegations. They can easily see any budget constraints and can choose to approve at a line item or overall header level.

Purchase orders can be automatically allocated to preferred suppliers, consolidated to reduce the number of small transactions and can be associated with item based or blanket contracts to enforce and track spend
commitments.

Many other processes benefit from being automated to bring extra layers of satisfaction to your customer service. Effective master data management ensures that new suppliers (and customers), items and cost allocations are created quickly and accurately. Key areas require particular approval and scrutiny for systems of internal control.

Dashboard: Analysing procurement activity gives managers visibility over the key areas of: mend: to identify issues, bottlenecks and behaviour that affects the efficiency of the business; spend: to track the corporate expenditure along
appropriate lines of review; and trend : to uncover patterns that indicate opportunities for savings and gains in productivity.

FutureGatewayAnalytics can include mash-ups from sources such as mapping and online web services to deliver analysis of expenditure and behaviour both as
a graphical, discovery dashboard and traditional informational reports.

FutureGateway Procurement Management System (PMS)