Procurement Consulting and Intelligence

Q+ (Procurement Intelligence Engine)

Q+, the Procurement Intelligence Engine of VENDX is the Negotiation arsenal of buyers providing a range of Analytics for strategic buying.

Interestingly, the Q + engine automatically collates all analytics in the context of a specific transaction on a single dashboard to enable buyers to effortlessly design ideal Negotiation Strategies and ensuring quick & optimum procurement decisions

Typical Challenges WRT Analytics

Questionable Purity of Data due to manual intervention for creation of data.
Significant investment of time for generating and accessing desired analytics.
Limited capabilities of resources at times to generate required analytics.
Significant Cost impact & high risk in the absence of insightful analytics at the time of decision making.
Absence of data on Negotiation behavior of suppliers to design effective Negotiation Strategy.

Q+ collates following relevant Analytics on a click

Spend Analysis of relevant material and suppliers
Insight on budget v/s spend
Average Negotiation pattern of each supplier for a specific material
Insight on what strategy works best for each supplier
Price trends of each supplier for a specific material
Relevant Commodity Price trends
Exchange rate trends
Comparative for Supplier Capabilities
Unique Vendor Performance Rating on Qualitative & Services

‘Q+’ Key Analytics

Vendor Negotiation Behavior & Price Trend

Vendor Sustainability Report

Vendor Capability Comparison

Design ideal Buying Strategy

Procurement Intelligence Tool

Design ideal Buying Strategy

AUDIT MODULE -- "Establish Accountability for every Buying Decision."

Establish Accountability for every Decision

Spend Analysis

Strategize Negotiations

Vendor Performance Rating Module

Vendor Negotiation Behavior & Price Trend

Understanding behaviour pattern of negotiation of suppliers can be extremely useful arsenal of any buyer. This unique insight can significantly enhance buyer capabilities for an ideal price discovery

Vendor Sustainability Report

Sustainable supplier selection is considered a vital factor in sustainable supply chain management & hence It is of paramount of importance to mitigate vendor risks thru methodical evolvement of sustainability rating of all critical vendor. VENDX Vendor Sustainability report is driven by a configurable engine to classify suppliers in different risk zone considering various customized parameters

Vendor Capability Comparison

Design ideal Buying Strategy

Vendor Capabilities Comparison provides apple to apple comparison of capabilities of different vendors in terms of their production capabilities, quality assurance standards, financials, customers, their sustainability para meters and various para meters desired by an organization. This self - updated information by vendors is most appropriately routed for approval to provide the buyer updated accurate comparison of vendor capabilities.

Procurement Intelligence Tool

Design ideal Buying Strategy

Procurement Intelligence Tool is an unique analytics on VENDX which empowers buyers to take informed decisions based on input cost variables relevant to critical material bought by the buyer.

AUDIT MODULE -- "Establish Accountability for every Buying Decision."

Establish Accountability for every Decision

Sourcing is one of the most sensitive business function which involves daily decisions for major spend of an organization. Typically a manufacturing company spends anywhere between 45% to 85% of revenue in procurement of goods and services.

Spend Analysis

Strategize Negotiations

Spend analysis is a process for analyzing the historical spend (purchasing) data of an organization to facilitate superior buying strategies and carry out long term planning for mitigating supply disruptions and ensure more effective cost management

Vendor Performance Rating Module

Vendor Rating Module is a comprehensive engine with smart algorithm to evaluate vendor performance on quality and timely delivery on real time.

Vendor Negotiation Behavior & Price Trend

VENDX recognizes the pattern of vendor behaviour and offers very interesting insight on patterns of negotiation of every supplier for every product along with generic & vendor specific price trend of every product.

Key Features

Track negotiation behavior of all the suppliers.
View historical price patterns of items offered by different suppliers.
Downloadable charts/graphs.
Comparative analysis chart.
Supplier specific price trend for every material
Instant insight on historical prices of every supplier

Benefits

Assist in design of an ideal negotiation strategy
Leads to superior Price Discovery
Significantly reduce time for negotiations
Improves Audit compliance

Key Features

Track negotiation behavior of all the suppliers.
View historical price patterns of items offered by different suppliers.
Downloadable charts/graphs.
Comparative analysis chart.
Supplier specific price trend for every material
Instant insight on historical prices of every supplier

Benefits

Assist in design of an ideal negotiation strategy
Leads to superior Price Discovery
Significantly reduce time for negotiations
Improves Audit compliance

Vendor Sustainability Report

VENDX Vendor Sustainability report is created thru a configurable engine to classify suppliers in different risk zone considering various organizational relevant customized parameters. It facilitates to identify specific risks associated to a vendor to take desired actions to mitigate associated supply risks.

Key Features of VENDX Vendor Sustainability Report

Auto calculation of Sustainability score of different suppliers on desired parameters.
Customizable Questionnaire suiting your specific organization.
Easy-to-use scorecard with rich information.

Benefits

Helps Automate qualification of new vendors
Ensures to minimize supplier risk
Helps maximize the use of vendor capabilities.
Secure compliance of vendors to –
- Certification requirements
- Business requirements
- Legal/regulatory requirements
Helps you to eliminate supply disruptions

Vendor Capability Comparison

VENDX Vendor Capabilities comparison facilitates buyers to select the most eligible vendor from the pool of vendors for that particular material or service. This report fetches the data which was entered by the vendor when they had registered or updated through or post Vendor Onboarding and gives an apple to apple comparison to onboard the most suitable vendor or decide business in favor or most eligible vendor.

Key Features

Configurable parameters to collect information and compare vendor capabilities to ensure relevant data for different categories
Direct linkage of the report in sourcing module to ensure appropriate consideration of the relevant vendor capabilities while finalizing contract
Self–update of information by vendors
Admin module to ensure acceptance of only relevant data
Communication and approval facility between administrator and category managers for views and approvals

Benefits

Mitigate supply disruptionsImproved quality of service.
Improves decisions quality
Simplify vendor onboarding process.

Procurement Intelligence Tool

Procurement Intelligence Tool is unique analytics on VENDX which empowers buyers to take informed decisions based on input cost variables relevant to critical material bought by the buyer.

Key Features

Track of major commodity price trends
Daily track of exchange rate of all major currencies
Commodity & exchange rate trends

Benefits

Insightful decisions leading to superior negotiations
Mitigation of risks pertaining to abnormal price rise due to upward trend in relevant commodity prices
Superior hedging strategies
Prevention of loss of inventory values due to price drop of relevant commodities

AUDIT MODULE — “Establish Accountability for every Buying Decision.”

Sourcing is one of the most sensitive business function which involves daily decisions for major spend of an organization. Typically a manufacturing company spends anywhere between 45% to 85% of revenue in procurement of goods and services.

Considering the fact the process of buying decision-making is driven by manual interpretation and interactions, it demands very strong accountability in the context of buying decisions to ensure fair, transparent, and compliant decisions.

Challenges pertaining to Auditability of Buying Decisions:

Lack of visibility on real-time data of interactions during Negotiations between buyers and sellers
Difficulty in filtering out non-compliant buying decisions
Questionable purity of data to be evaluated for Audit
Significant efforts to create a set of documents desired for Audit
Huge investment of time in Audit by both buyers and auditors
Lack of Decentralization of sourcing function leading to loss of opportunities
Demotivation for buyers when failed to satisfy auditors queries

Key Features of VENDX Audit Module

1023 permutation – combinations to filter out any decisions taken on the platform as per the auditors’ desire.
Instant insight into justifications and entire transaction history to identify any abnormality and take corrective measures.
Instant insight into the buyers’ negotiation efforts to ensure that the buyers leverage all the analytics to devise the most effective negotiation strategies.

Benefits

Painless Audit exercise.
Minimizing the possibilities of fraud and collision with the suppliers.
Superior accountability leading to better decisions leading to reduction of cost.
Huge savings of time of resources due to easy and effortless access to all documents and justifications for audit.
Best possible internal control on every decision.
It ensures the accuracy, authenticity & reliability of the procurement records.
Optimum use of resources due to effortless access to all documents and justifications.
Decentralization of decisions leading to timely capitalization of available opportunities.

Spend Analysis

Spend analysis is a process for analyzing the historical spend (purchasing) data of an organization to facilitate superior buying strategies and carry out long term planning for mitigating supply disruptions and ensure more effective cost management

Key Features

Real-time spend analysis
Spend breakup on Item/ Category/ Vendor/ Buyer/ Project/ Authorizer/ Plant
Facility to slice-n-dice spend to determine in seconds total spend on desired parameters
A quick reflection on Budget v/s Spend
Facility to create a spend tree and view spend at different hierarchy level
Instant creation of spend report library in a frame to switch over from one analysis to another
Facility to include spend outside the scope of the platform to give a comprehensive analysis of all spend

Benefits

Huge savings of time due to dynamic inclusion of spend at the moment when a decision is authorized.
Better accountability of buyers due to instant visibility of spend v/s budget.
Superior negotiation strategies with suppliers due to instant insight on the volume of business offered to suppliers.
Superior compliance.
More effective negotiations leading to Cost Reduction.
Saving of time due to instant availability of relevant historical information.

Vendor Performance Rating Module

The vendor Rating Module is a comprehensive engine with a smart algorithm to evaluate vendor performance on quality and timely delivery in real-time.

Vendor Performance evaluation is one of the most daunting tasks for organizations leading to significant challenges in deriving rating in a very transparent and fair manner. In absence of fair derivation of rating of vendors, an organization runs a huge risk on deliverables from the selected vendor.

Key Features

Configurable engine to evolve dynamically rating of a vendor for a specific product
Smart algorithm to have variable rating weightage and rating score calculations
Auto generation of comparison of rating of different vendors
Easy comparison of rating of different time period for a vendor
Linkage of vendor raring to Sourcing module for considering the same while awarding a contract

Benefits

Absolutely fair evolvement of vendor rating without any manual intervention once the rating module is configured based on a specific product or category-leading to minimizing vendor risk.
Huge savings of time due to automated rating mechanisms.
Complete transparency in vendor rating mechanisms leads to the most appropriate risk management.
Improvement of Supplier performance due to quick actions/communications to improve supplier performance
Timely & Quality deliverables based on appropriate supplier selection leading to minimum supply disruptions

Case Studies

Digitization Success Stories

Read about challenges we addressed for our customers and the benefits accrued by them

MORE

.01

Spend Analysis

A global pharma company having HO in West Zone in India was facing serious challenges in planning & executing effective buying strategies for different categories and vendors in absence of insightful ...

Learn More

.02

Audit Challenges

A leading conglomeration of pharmaceutical, specialty chemicals, and agri chemicals groups wanted to ensure strong accountability for decisions and ensure seamless audit. They had received some seriou ...

Learn More

Q+ (Procurement Intelligence Engine)

Q+ (Procurement Intelligence Engine)

Typical Challenges WRT Analytics

Q+ collates following relevant Analytics on a click

‘Q+’ Key Analytics

Vendor Negotiation Behavior & Price Trend

Vendor Sustainability Report

Vendor Capability Comparison

Design ideal Buying Strategy

Procurement Intelligence Tool

Design ideal Buying Strategy

AUDIT MODULE -- "Establish Accountability for every Buying Decision."

Establish Accountability for every Decision

Spend Analysis

Strategize Negotiations

Vendor Performance Rating Module

Vendor Negotiation Behavior & Price Trend

Key Features

Benefits

Key Features

Benefits

Vendor Sustainability Report

Key Features of VENDX Vendor Sustainability Report

Benefits

Vendor Capability Comparison

Key Features

Benefits

Procurement Intelligence Tool

Key Features

Benefits

AUDIT MODULE — “Establish Accountability for every Buying Decision.”

Challenges pertaining to Auditability of Buying Decisions:

Key Features of VENDX Audit Module

Benefits

Spend Analysis

Key Features

Benefits

Vendor Performance Rating Module

Key Features

Benefits

Case Studies

VENDX Solutions

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