Monitor Buyers and Vendors activities for increased profits

The Profitect Procurement Module provides retailers with enhanced control of procurement activities, at the HQ, at remote buying, or sourcing offices to minimize fraud and shrink detection.

This module provides capabilities to monitor buyers and vendors’ performance and flag critical points that may represent wrong or erred buying decisions, supplier favoring, buyers’ error, fraud, or non-compliance.

The action guidance layer provides specific recommendations for corrective actions based on the specific causes, risks and agents involved.

Procurement Module

 

Benefits

• Maximize the growth and profitability potential of procurement operations
• Reduce operational risk and improve purchasing and financial processes
• Improve sourcing, buying and planning decisions with enhanced fact-based negotiation
• Lower purchasing costs and decrease margin erosion, mark-downs, waste and shrink
• Safeguard stakeholders by maintaining an ethical environment and compliance with codes and procedures
• Provide procurement professionals with granular visibility across items, systems and categories
• Enhance governance and improve control over the supply base
• Cover purchasing activities at headquarters, sourcing offices and remote buying locations
• Monitor buyer and vendor performance, flagging improper decisions and non-compliance
• Identify irregular purchasing patterns, activities, vendor favoring, irregular invoicing, payments and monitor contract compliance