VENDX E-Sourcing Suite

VENDX e-Sourcing Suite is the most powerful digital platform to drive the best buying decisions.

VENDX e-Sourcing Suite is the most powerful digital platform to drive the best buying decisions.

Sourcing is the most critical procurement function which greatly determines competitive edge of an organization considering its impact on the quality of buying decisions.

VENDX Purchase Requisition (PR) Management Module
Track every requirement for timely actions
VENDX RFQ Module
Ditch ‘Excel’, Go Digital
VENDX Technical Bid Module
Ensure Quality Decisions
VENDX Connect Module
Collaborate, Communicate and Track
VENDX Auction+ Module
Discover best prices
VENDX Audit Module
Establish Accountability for every Decision
VENDX Decision Approval Module
24*7 Approve Decisions from your Mobile

VENDX Purchase Requisition (PR) Management Module

Track every requirement for timely actions

VENDX PR Management Module empowers you to ensure instant actions on requirements facilitating significant reduction of TAT (Turnaround time) of PR to Order.
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VENDX RFQ Module

Ditch ‘Excel’, Go Digital

VENDX RFQ Module is comprehensive transaction engine to facilitate the entire process of creating the RFQ to generating the comparison dashboard of vendors based on the landed cost as per the organization's requirements.
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VENDX Technical Bid Module

Ensure Quality Decisions

VENDX Technical Bid Module helps to digitize the entire process of evaluating technical capabilities & specifications needed for any material from different vendors & selecting a vendor based on desired techno-commercial parameters.
Read More..

VENDX Connect Module

Collaborate, Communicate and Track

Collaboration is the key to success of any buying decisions. Be it in respect to requirements, commercials or internal discussions on negotiation strategies. VENDX connect simplifies and capture all such interactions for ready reference for the future.
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VENDX Auction+ Module

Discover best prices

VENDX Auction+ module goes beyond traditional Auction modules by ensuring digitization of pre & post auction processes, thereby ensuring the highest compliance and massive savings of human efforts and time.
Read More..

VENDX Audit Module

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.
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VENDX Decision Approval Module

24*7 Approve Decisions from your Mobile

VENDX Decision Approval Module offers complete visibility to senior stake holders in the procurement function who are responsible for approving and authorizing decisions there by ensuring informed decisions. The mobile friendly module also ensures unprecedented convenience for taking decisions from any part of the world 24*7*365.
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VENDX Purchase Requisition (PR) Management Module

Track Every requirement for Timely Action

VENDX PR Management Module simplifies, optimizes & speeds up the process of converting Requisitions (generated in the ERP) to Orders (to be generated in the ERP) most efficiently and transparently.

Every organization faces the daunting task of managing requirements generated from across locations to take timely & appropriate actions to ensure delivery of material in time & at the most optimum cost.

Challenges of Managing Requisitions

  • Time-consuming process of converting PR to RFQ
  • Difficulty tracking actions on individual items of a requisition
  • Huge investment of time in Coordination with the requisitioners
  • Risk of missing out critical requisitions leading to adverse impact on production
  • Possibility of higher payout to suppliers due to lack of time for negotiations on missed out PRs

Key Features

  • One-click conversion of multiple PR line items to RFQ
  • Auto Selection of Source list
  • DashBoard reflecting the status of every PR/ Line item in the transaction
  • Facility to include PR to ongoing RFQ
  • Ease of converting PR to Order based on historical rates

Benefits

  • Timely actions on all requirements
  • Huge savings of Time in coordinating with requisitioners
  • Significant reduction in lead time to convert PR to Order
  • Elimination of risk of stock out
  • Availability of time to strategize negotiations

VENDX RFQ Module

Ditch ‘Excel’, Go Digital

VENDX RFQ Module is a comprehensive transaction engine to facilitate the entire process of creating the RFQ to generating the comparison dashboard of vendors based on the landed cost as per the organization’s requirements.

This is one of the most critical processes for any organization & it is of paramount importance to manage this process most efficiently for superior price discovery, compliance & audit.

Key challenges faced by an organization

  • Lack of clarity in communication concerning requirements and terms of business
  • Time-consuming process for creating RFQs for detailed Commercial requirements
  • Unproductive efforts of follow up for quotations & coordination for clarity
  • Intense efforts of manually filling up innumerable formula driven excel cells for computing landed cost or Total Cost of Ownership for each supplier
  • Extensive time involvement in documentation and administrative tasks related to transactions of every vendor leading to constraints for increasing vendor base
  • Human intervention at every stage of the process leading to possible human error & questionable purity of the data
  • Gaps in genuine compliance and SOPs (Standard operating procedure).
  • Lack of Transparency in the negotiation process.
  • Lack of time for formulating strategy due to the intensely transactional driven process.
  • Audit issues
  • Risk of losing knowledge of crucial buyers.

Key Features of VENDX RFQ Module

  • Automatically scans the supplier’s catalog to identify new suppliers from the existing suppliers’ community.
  • Auto stores the source list for future RFQs.
  • Facility to build Supplier Directory without adversely impacting vendor master data
  • Configurable Template Engine for RFQ/ Quotation/Landed Cost Computation as per your specific business requirements
  • Auto setup of RFQ for market information collection without any human intervention
  • Alerts over SMS & Emails for timely submission of Quotations
  • Supplier response via routine email
  • One click view of relevant historical communications
  • Auto generation of quote comparison sheet based on landed cost total cost of ownership for domestic and international Vendors simultaneously
  • Facility to customize elements to view comparison
  • One click view on L1 of L1 of vendor basket price
  • Comprehensive comparison of all commercial terms
  • Instigative Bidding Process thru unique auto rank generator

Benefits

  • Digitization of the entire Negotiation Process & easy access to desired information about ongoing & historical transactions saves up to (60% – 72%) of time.
  • Superior quality of buying decisions due to focus on Strategies
  • Complete visibility on the negotiation process leading to ease of Audit.
  • More competitive buying environment due to the involvement of a larger number of suppliers.
  • Superior Price Discovery thru auto rank generator
  • Superior Level of Compliance.
  • Simplification of Audit due to a single repository of real-time transactional data.
  • Knowledge redundancy of the buyers.

VENDX Technical Bid Module

Ensure Quality Decisions

VENDX Technical Bid Module helps to digitize the entire process of evaluating technical capabilities & specifications needed for any material from different vendors & selecting a vendor based on desired techno-commercial parameters.

This one of its kind’s module is ideally suited for Project & Capex Purchases besides its applicability for all other desired categories.

Key Challenges

  • Inconsistent process for defining desired Technical Para Meters
  • Each item or /and Each vendor may have a different Technical offering making it difficult to evaluate Technical comparison
  • Immense coordination efforts with Technical experts and Suppliers to establish clarity on Technical needs & offerings
  • Possibility of miscommunication of requirements due to absence of trail of communications
  • Audit issues pertaining Technical qualification of a supplier
  • Huge Time spent on maintaining & accessing repository for all communications
  • Serious lapses in ensuring compliance laid down for technical approval of a vendor

Key Features of VENDX TECHNICAL BID MODULE

  • Comprehensive & user friendly Technical Bid Template Engine to define and collect varied technical parameters
  • Auto generation of Comparison of Technical Bids of suppliers
  • Facility to seek workflow based approval of Technical Bids
  • Facility to communicate seamlessly with Technical Experts and Suppliers
  • Logs of every communication and Technical Bids
  • Facility for setting alerts to suppliers for timely submission of Technical Bids

Benefits

  • Transparent & quick communication of requirements & deliverables saves a massive amount of time.
  • Assured adherence to SOP (Standard Operating Process).
  • Complete trail of all communications leading to superior audit compliance.
  • A lot of time is saved because of reduced coordination with technical stakeholders.
  • Instant insight on historical decisions on similar kinds of products for improved decisions.
  • Focus on the strategic matter rather than transactional & administrative efforts leading to optimum decision making.
  • Knowledge repository of historical evaluation parameters leading to faster & appropriate judgments.
  • Cost overruns can be minimized by tracking the budget.

VENDX Connect Module – Collaborate, Communicate, and Track

Collaborate, Communicate and Track

Collaboration is the key to success of any buying decisions. Be it in respect to requirements, commercials or internal discussions on negotiation strategies. VENDX connect simplifies all such interactions & creates easily searchable logs for future reference.

Interestingly VENDX Connect is integrated with Zoom to ensure repository of recorded calls to validate historical communications on even video calls

Challenges

B2B transaction runs into high-value desiring clarity on scope of deliverables and commercials between all relevant internal and external stakeholders. Typical challenges faced by every organization is pertaining to …

  • Isolated communication using video calls, telephone calls & email leading to huge efforts in compiling the relevant communications for insightful information pertaining to technical scope & commercial
  • Challenges pertaining to Audit due to absence of complete logs of all communications
  • Huge time invested in repeated discussions
  • Misunderstanding leading to possible arguments and disputes between stakeholders

Key Features of VENDX Connect

  • Real-time communication over zoom & mail with prompt notification
  • Communication linkage to a specific transaction
  • Comprehensive search option to access a specific communication
  • Ease of looping internal and external stake holders for clarity or opinion
  • Logs of all video calls & communication with one click access
  • Very simple UI for instant adoption

Benefits of VENDX Connect

  • Huge savings of time for collaborating with internal and external stake holders
  • Ease of Audit
  • Minimization of misunderstanding between technical and commercial stake holders
  • Mitigation of risk of non – compliant deliverables
  • Faster decision making

VENDX Auction+ Module

Discover best prices

VENDX Auction+ module goes beyond traditional Auction modules by ensuring digitization of pre & post auction processes, thereby ensuring the highest compliance and massive savings of human efforts and time.

This is one of the unique offerings of VENDX Auctions. It is notable that with the help of VENDX Auction+ Module, our clients are achieving up to 28% cost savings.

Challenges Faced by Users

  • Manual collection of pre-auction bids & working out on the landed cost of each supplier.
  • Manual compilation of post-auction bids & manual punching of data in the legacy system to generate an order.
  • Difficulty of suppliers to adopt the platform.
  • Auctions on basic or flat rate miss out the landed cost break up for buyers & suppliers.
  • Devising a dynamic approach to trigger competitive bidding is a challenge as it is impossible to track vendor behavior during the auction.

Key Features of VENDX Auction + Module

  • Easy to Use.
  • Facility to conduct various types of Auctions.
  • Vendor tracking with IP address.
  • Vendor behaviour tracking on Live Auctions
  • Logs of all activities.
  • Comprehensive Reports
  • Automation of Pre- auction Process
  • Workflow based approval of Auction Results
  • Integration of Auction outcome to seamlessly generate order in your ERP

Benefits of VENDX Auction+ Module

  • Superior price discovery leads to substantial cost savings.
  • Better time management due to the automation of pre & post auction processes.
  • Best compliance.
  • Seamless & confident adoption by suppliers enables the best bidding environment.
  • Visibility of users leads to formation of real-time strategy generating superior outcome
  • Availability of comprehensive post-auction reports leads to a better strategy for repeat auction.

VENDX Audit Module

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.

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 to buyers when failed to satisfy audit 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 of VENDX Auction+ Module

  • 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 for audit.
  • Decentralization of decisions leading to timely capitalization of available opportunities.

VENDX DECISION APPROVAL MODULE

24*7 Approve Decisions from your Mobile

VENDX Decision Approval Module offers complete visibility to senior stake holders in the procurement function who are responsible for approving and authorizing decisions there by ensuring informed decisions. The mobile-friendly module also ensures unprecedented convenience for taking decisions from any part of the world 24*7*365.

Challenges

  • Lack of visibility to approving authorities on negotiations carried out between vendors and buyers.
  • Significant efforts for buyers to compile all relevant documents needed for justification of recommended decisions
  • Extensive coordinations for seeking clarifications among key stake holders in context of the decision
  • Limited remote access leading to possible crisis due to delay of approvals
  • Possibility of opportunity loss due to non–timely decisions.

What can you do with VENDX decision authorization module?

With the VENDX Decision Authorization Module, you can:

  • Create customized workflows for approval and authorization as per the compliance needs of an organization.
  • Have instant access to all relevant analytics
  • Can determine negotiation efforts of the buyers
  • Decide share of business among primary and secondary suppliers.
  • Attach multiple files and emails for justification of a decision
  • Effortlessly amend, reject, and approve the decisions.
  • Authorize decisions from your handheld devices through ‘VENDX Buyer’ Mobile application 24*7*365 from across the world.
  • Have audit logs of all actions during approval.

Benefits

  • Informed & timely actions on proposed decisions by buyers.
  • Faster decision-making cycle reduces the lead time.
  • Prevention of opportunity loss & crisis due to delay in decisions.
  • Optimization of the decision-making process.
  • Superior accountability.
  • Ease of audit.

VendX Logistics Essentials (VLE)

Ideal Freight Rates Discovery at your Fingertips

With a range of freight service providers discovering optimum freight charges considering the various complexities (of multiple routes, load factors, package sizes) and modes of transport (Road / Sea / Air) is a challenge for any organization.

While the continuously evolving world demands extensive agility, these challenges take a gigantic form and negatively impact on supply chain performance.

Controlling the costs while mitigating risks and ensuring supplier satisfaction with the limited bandwidth of time and complexity of sourcing is a significant challenge for Logistic Managers.

VENDX Logistics Essentials simplifies the sourcing process and ensures ideal & instant freight discovery.

VENDX Logistics Essentials – Logistics Sourcing Made Easy (Key Features)

  • Enables Real-time connect with your supplier of every route and mode of transport.
  • Configurable transaction platform to accommodate various routes, load, package size & freight service providers.
  • Instigative bidding platform with insightful analytics.
  • Instant visibility of spend & aggregate rates of different routes and service providers.
  • Central Repository of all decisions.
  • Configurable approval workflow.
  • Comprehensive audit module for every decision.

Unlock the opportunities of tremendous savings (Benefits)

  • Logistics costs can be brought down by 5% – 25% through an instigative bidding environment and insightful analytics. 
  • Simplified logistics function, leading to 65% savings of transactional time.
  • Automatic creation of all the required documents like communication trail and decision workflow.
  • Best compliance and auditability of decisions.
  • Risk mitigation of knowledge dependency on Procurement team members.
  • Standardization of the complete Logistics Sourcing Process.

VENDX CAPEX & SERVICES (VENDX SC) SOURCING MODULE

Ditch ‘Excel’, Go Digital

Procurement of Services and CAPEX is the most complex function with complicated & evolving techno-commercial parameters for the requirement.

Our research & interactions with various industry veterans reflected serious concerns pertaining to CAPEX & Services Sourcing due to its complex sourcing process in terms of time desired to be invested and visibility of the process for arriving @ buying decision.

VENDX SC is arguably the only Sourcing module which simplifies this highly complex process most effectively

The risk associated with the Sourcing process for Services and Capex

  • Possibility of Cost overruns due to lack of clarity among key stakeholders
  • Mismatch in expected & actual deliverables.
  • Dependency on individual knowledge.
  • Delay in project execution due to misunderstanding among stakeholders
  • Errors in costing due to extensive human dependent complex calculations
  • Lack of Accountability

Key Features

  • Facility to create comprehensive Activity / BOQ template for RFQ & expected Bid
  • Automatic computation & comparison of the total cost of suppliers based on the individual cost of activities/boq.
  • Flexibility to allocate SoB (share of business) on activities.
  • Facility to amend activities for ongoing RFQ.
  • Self-configurable activity templates.
  • Facilitates communication between stakeholders to seek clarifications.

Benefits

(CAPEX Procurement simplified with VENDX SC Sourcing Module)

  • End-to-end mapping of the process right from PR (if available) to RFP / Technical bid / Specifications Evolvement / Technical Capabilities Rating / Techno-Commercial Comparison of Parameters / Decision Making / Contract Creation.
  • Easily Configurable template engine to design complex technical and activity level parameters for most appropriate Techno-Commercial comparison.
  • Transparency in the process leads to having better control over the Project, which keeps a check on cost overruns.
  • Activity / BOQ level costing and share of the business (SOB) provides flexibility to select the most suited vendor @ activity level
  • Communication facility & logs of all communications between stakeholders concerning a specific transaction.
  • Instant access to the information & communication log repository related to any and every transaction.
  • Ease of Audit and Adaptability.

Being the Procurement Director of Dalmia Cement, I had a need to have complete visibility across procurement functions.

VENDX dashboard provides us real time visibility on all procurement decisions and high lights areas of improvements. It offers real time connectivity to all relevant stake holders & facilitates digitization of all documentations and interactions leading to significant savings of time & building complete transparency in the decision making process. VENDX is the integral part of procurement landscape of Dalmia.’

Mr. Saurabh Palsania,
Exe Director, Dalmia Cement

Key Value delivery of VENDX e-Sourcing Suite

  • Real-time visibility on Spend: Complete trail of transaction & digitization of all documents
  • Insightful Decisions: Easy access to vital Analytics for ensuring optimum quality of decisions
  • Timely Action on Requirements: Track every requirement for fulfillment
  • Superior Price Discovery:  Thru highly Competitive environment leading to best price discovery
  • Knowledge Redundancy: Central repository of data of all interactions and transactions
  • Simplified Audit: Easy access to non – compliant decisions

Customers Success Stories

‘’The Baybuy (VENDX) platform has been instrumental in achieving significant time savings (approx. 60%) in transactional procurement process. We appreciate the understanding of VENDX team in understanding our business processes & delivering the solution as per our requirements.’’

Bayer CropScience LLC

Bayer CropScience LLC

Mr. K R Sekhar Vice President – Procurement & Logistics

‘’We are happy to note that post evaluation of leading e-procurement platforms, we have implemented VENDX, the solution offered by MavenVista. MavenVista has demonstrated thorough professionalism & detailed understanding of our requirements & delivered successfully the solution desired by us.’’

Aarti Industries Limited

Aarti Industries Limited

Mr. Sudhakar Shetty General Manager

‘’We are happy to mention that MavenVista has successfully integrated its comprehensive e-sourcing solution, VENDX with SAP version ECC 6.0 @Intas Pharmaceuticals Ltd.’’

Intas Pharmaceuticals Ltd

Intas Pharmaceuticals Ltd

Mr. Gagan Bharadwaj VP – Procurement & International Logistics

Case
Studies

Digitization Success Stories

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

.01
Pharma Company for Direct & In ...
A leading, vertically integrated global pharmaceutical formulation development, manufacturing, and marketing company with annual turnover of about 2 Billion USD having 10 plants across India, UK and M ...
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.02
Transparency & Governance of a ...
A fortune 500 MNC in the crop science, healthcare and bioscience business having par excellent reputation on their core organization ethics was looking for a solution to have impeccable record of fair ...
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