`1. SUPPLER ONBOARDING

Newedge workflow solution allows you to streamline the entire onboarding process for suppliers. Our solution eliminates paperwork and reduces the need for manual data entry across multiple systems. Our solution will manage this for you.

A] Starting with Supplier Onboarding you can enter your new supplier details or ask the supplier to do so via a portal.  Our flexible form designer means you can capture whatever information you need including attaching backup documents, capturing electronic signatures, and anything required to know your supplier’s due diligence. The onboarding can include multiple approval stages and once approved the supplier can be automatically created in your accounting system via its API. Confirmation of a supplier code or other reference can also be written back to our workflow solution. All steps of the normal procure-to-pay are optional in Newedge workflow solution.

1. A procurement transaction starts with a requisition as our workflow solution is web-based users from any location can initiate a requisition supplying as much information is necessary, this can then be routed for approval based on department, value, item type, or any other criteria you like and have as many stages is necessary, information can be selected from lookups to other systems like supplier order book or catalog or your own accounting software
2. The next step is a purchase order this can be based on the requisition to eliminate rigging of data but additional information such as supplier information and analysis can be added as required. You can also check the budget before authorizing, after the appropriate approvals a purchase order can be generated and emailed to the supplier using a document format built with our integrated business intelligence and report designing tools once the invoice is received it can be entered with data that is automatically populated from a purchase order where available, you can also extract the details from the document automatically using our inbuilt OCR. The invoice will go through the coding and approval process required including potentially automatic approval where it matches always within a tolerance of the original purchase order, it can then be sent to your accounting system for payment via its API. NewEdge workflow solution has a powerful middleware integration feature enabling direct connection to the API of your accounting software or any other system this means the coding data can be selected in our workflow solution in real-time directly from your accounting or ERP Software. This ensures 100% accuracy and reliability avoiding the need to maintain multiple data sets, using the powerful accounting automation feature to configure automated accounting rules; complex accounting journals can be generated and posted automatically based on activity types. A journal number or the reference can be received and written back automatically enabling a full audit trail as part of the accounting automation process, because of its flexible nature other steps such as quotation requests, and goods receipting can be added if necessary the drag and drop form designer and process builder means apps can quickly be customized or created from scratch, its versatile process building can include header or line level approvals, individuals or groups, parallel branches, and many other features. Our apps can work in unisom with your accounting software or ERP software it can be easily integrated into your core business systems to ensure come with a powerful business intelligence feature enabling you to create spent control dashboards and other BI reports. Our solution is designed to be fully configured and customized for any requirement, if you have a unique requirement please get in touch

BENEFITS OF USING NEWEDGE WORKFLOW ONBOARDING FEATURE

• Replace your supplier onboarding software with a platform that has multiple use cases, saving you time and money
• Streamlined supplier onboarding process
• Reduce paperwork and manual data entry
• Track the progress of each stage of the process
• Easily reject a new supplier
• Integrate with existing systems and processes
• Customize the approval process to fit your needs
• Real-time access to supplier onboarding information and records
• Secure and user-friendly environment for access rights and authorization

2. PURCHASE REQUISITION AUTOMATION

Newedge Workflow solutions enable enterprise-level purchase requisition automation that simplifies and speeds up the entire requisition process. It eliminates tedious manual processes and makes it easy to request, approve, and track purchases. Using API you can connect to a supplier’s order book or catalog and have it automatically feed accurate information about what is available and the prices. Our workflow platform gives you extensive features for limitless use cases. These features enable you to automate the requisition process and replace your requisition software. The Newedge workflow will replace your requisition software as well as third-party software ie ION, SSPR, MAXIMO, QlikView, POWER BI, SUNFLOWER, etc Reducing your need to manage multiple disparate systems and helping reduce your costs. Is there one platform to replace them all

STEP 1. Once a requisition is created, it is routed through the approval process based on your customizations and preferences

STEP 2. Anyone in your organization can request the purchase of an item or service, so long as they have the relevant permissions. The item or service will then go through one or more steps of approval such as going to the finance department

STEP 3. The purchasing team can take over to check with the relevant source company by plugging it into a supplier’s order book system.

STEP 4. The supplier’s order book will return a list of items the source company sells with prices and you can go to select the items and quantities you wish to purchase

STEP 5, From then, the requisition could flow into a purchase order, which then end  up being sent to the supplier to say we want to purchase this.

STEP 6. With Newedge workflow you can negotiate prices, or discuss discounts with suppliers while they are still in the requisition stage and you can also keep track of spending from the requisition stage all the way to delivery

BENEFITS OF USING NEWEDGE WORKFLOW PURCHASE REQUISITION AUTOMATION SOLUTION

• Replace your Requisitioning software with a platform that has multiple use cases, saving you time and money.
• Multi-level budget checking can be performed at any stage of the workflow
• Faster and more effective requisitioning
• Streamlined requisition process
• Reduce paperwork and manual data entry
• Easy to request, approve and track purchases
• Integrate with supplier’s order books or catalogues
• Automate data entry with API, Link via API to suppliers website/database to get information on item prices availability and more
• Real time access to purchase requisition information and records, designed to be fully configured and customized for any requirement.

3. PURCHASE ORDER AUTOMATION

NewEdge workflow solution allows you to extract the budget from your accounting system,or within our system so that the available budget for the purchase can be checked at the PO entry or approval stage. Once the PO is approved and all the checks are positive, our workflow solution can automatically generate an email to be sent to the supplier to request to purchase the item.  Add the account details you have with suppliers to our workflow solution and it will automatically be added to your PO to suppliers. This way your purchase orders are fully automated and you don’t have to manually enter data or process a paper purchase order.

BENEFITS OF USING NEWEDGE WORKFLOW PURCHASE ORDER AUTOMATION SOLUTION

• Time savings of 1vday per 20 invoices processed across the organization
• Newedge purchase order feature lets you automate the entire process. A user of this app saved 0.5 days per PO across the entire organization
• Replace your Purchase order software with a platform that has multiple use cases, saving you time and money
• Real time access to purchase order information and records, link via API to suppliers website/database to get information on item prices, availability and more.
• Quicker and more efficient PO process
• Reduction in manual data entry
• Easy to request, approve, and track purchases

4. PURCHASE INVOICE APPROVAL WORKFLOW FEATURE

Once a purchase invoice comes in from a supplier, newedge workflow feature, automatically route it through various steps of approval which might include the finance department reviewing and coding it or the manager or budget holder approving it. If you have an approved purchase order in the system already that matches the details of the invoice, our workflow feature removes the hassle of going through the approval process again ( for payment approval). It does this by automatically matching the invoice to the original order, thereby eliminating the tedious task of rekeying information.

The newedge workflow feature will check to ensure that the amounts and quantities tallies with the values quoted on the order. Once it has gone through these steps newedge workflow feature can generate the invoice on your accounting system to that supplier’s account so that it is ready to be paid. All this is done automatically while freeing up your finance team’s time to focus on value added tasks

BENEFITS OF USING NEWEDGE WORKFLOW PURCHASE INVOICE APPROVAL  FEATURE

• Automated invoice matching to purchase orders
• Quick and easy review and approval process
• Real time access to invoice information and records
• Almost zero rekeying of information
• Elimination of unnecessary costs and overspending
• Centralise your invoice data
• Workflow accordingly e.g if the invoice total exceeds the orinal orde then re approval by budget holder is required

5. GOODS/SERVICE RECEIPTING AUTOMATION

This process begins with the suppliers’s invoice and can be tracked all the way through to being paid by your organization. Newedge workflow feature will automatically match a purchase order , an invoice, and the receipt for goods ordered and quickly review the invoice line items and details to ensure everything is accurate.

This eliminates incorrect invoices, items that don’t match the purchase orde, and other errors, it also eliminates the need for a manual matching process or another round of approval before the invoice is paid. Our workflow feature introduces, a receipting step into your ordering process so that there’s an extra layer of accuracy and traceability, allowing you to pay invoices more quickly.

Newedge workflow feature also gives you the ability to ensure that the goods and services received from suppliers are at the right and satisfactory level. End users of those goods and services can provide feedback directly in the accounting system, rather than the accounting team having to chose after user reviews before making payment. This helps to maintain consistent quality and accountability of the products or services delivered while tracking their values against budgeted amounts.

BENEFITS OF USING NEWEDGE WORKFLOW  RECEIPTING AUTOMATION  FEATURE  

• Ensure that items ordered and received match
• Eliminate incorrect invoices or items that don’t match the purchase
• Remove the repetitive manual data entry and unnecessary approval steps
• Reduce invoice payment processing times
• Gain real-time access to invoice and receipt information