Transform Your Procurement-to-Pay Workflow with Tectura’s ERP Procurement & Reimbursement add-on Extensions and Vendor Portal on Microsoft Dynamics 365 Business Central and AI Builder

In today’s fast-paced business environment, an efficient procurement process is crucial to business success. Companies, especially those in retail with extensive product lines. hundreds of vendors and several thousands of invoices, often face challenges related to manual document entries, long payable process time, and difficulties in timely vendor payment. These inefficiencies can hinder your operations and diminish your competitive edge in the market.

 

The Importance of an automated Procurement management 

Automating the Request for Quotation (RFQ) cycle can dramatically transform your procurement operations. Tectura’s advanced Procurement & Reimbursement Add-on (Add-on) and Vendor Portal Management leverage the capabilities of Microsoft Dynamics 365 Business Central (BC, original from Microsoft Dynamics NAV) and AI Builder – a leading Enterprise Management System, ERP system (or Enterprise Resource Planning, ERP) – to streamline communication with vendors, reduce manual data entry, and accelerate the procure – pay process. This combination allows you to take your procurement management to new heights.

 

Here are some key features of Tectura’s advanced Procurement & Reimbursement Add-on

  1. Optimized Request for Quotation (RFQ) Process
  • Efficient Purchase process: With Tectura’s Purchase Requisition Add-on, you can quickly create a purchase request and generate RFQ for multiple vendors or a specific vendor to facilitate efficient procurement flow. The users can place purchase order to the corresponding suppliers effectively.
  • Flexible Price Collection: The various vendors’ price and respective information can be flexibly collected via emails or the vendor portal by generating multiple purchase quotations in Business Central and can also set up time schedule to update the portal.
  • Automate workflow to speed up: Vendors can quickly enter key information like item descriptions, prices, quantities, and delivery dates directly into the portal, streamlining their bidding process in RFQ. Auto-notifications keep vendors and procurement users informed throughout the process.

 

  1. Enhanced Purchase Requisition (PR)
  • Audit Trails and Records: Excellent purchase records and audit trails for every purchase can be kept for the procurement and finance teams.
  • Visualized Dashboard: A user-friendly dashboard provides every purchase’s updated status, helping all departments ensure alignment with plans, schedules, and budgets.
  • Holistic Procurement Insights: A holistic view of the whole procurement process and purchasing analytics can be enabled for making smarter purchase decisions with valuable insights, future planning and react faster to your customers.

 

  1. Smart Purchase Reimbursement Integration with AI Builder (Microsoft Azure)
  • Automated Invoice Processing: By using Optical Character Recognition (OCR) and AI Builder and gathering vendor invoice information from various channels. the system drafts reimbursement invoices for user review and amendment.
  • Efficient review: Users can easily fill in any missing details or revise draft records for further review and process.
  • Streamlined Approval Process: Once confirmed, records are generated into accurate purchase reimbursement invoices for approval, ensuring a smoother workflow.

 

  1. Effective Vendor Portal Management
  • Accelerated Communication: Tectura’s vendor portal enhances interaction at every touchpoint with vendors, speeding up processes.
  • Integrated Workflow: Seamlessly connect with Microsoft Dynamics 365 Business Central, Dynamics 365 Finance and Operations, and other systems to automate workflows, eliminating manual interruptions and reducing process time.
  • Real-time Collaboration: Gain insights by tracking RFIs, RFQs, and purchase orders with vendors among different departments, fostering collaboration across different departments.
  • Self-Registration for Vendors: More vendors could self-register to be a new vendor. The portal supports Vendor Evaluation and Inspection, RFI, RFQ, Tendering, Evaluation, Purchase Order, Invoice, payment that encourage more collaboration and automation.

 

Conclusion: An efficient procurement process can take your business to the next level

By embracing automation and advanced technology, you can transform your procurement-to-pay workflow, minimize order fulfilment errors and align everything with the organization’s goal and increase the competitive edge in the market.

 

Contact Tectura Hong Kong Today

Don’t miss out on the opportunity to elevate your business and operations with Tectura’s Purchase Requisition Add-on and Vendor Portal on Microsoft Dynamics 365 Business Central (a robust ERP) with AI Builder!

Reach out to Tectura Hong Kong (Tectura HK) and explore the benefits for your procurement-to-pay process.

www.tectura.com.hk