StandFore

A new approach to e-Procurement

StandFore Procurement/e-Marketplace is a unique in its flexibility solution as it can be utilized both as e-Procurement system (when there is one buyer and many suppliers) and electronic marketplace (in case of multiple buyers and sellers). Successfully deployed in construction domain, nevertheless the universal nature of its document workflow allows utilizing it nearly in every domain conceivable.

For Buyers, StandFore Procurement/e-Marketplace is a cost-effective solution for efficient, streamlined procurement management. It’s an excellent solution to automate processes, eliminate paper routine, reduce overall costs of operation and increase ROI without the need of heavy investment into installation and personnel training. And StandFore Procurement can save millions of dollars and months of time – typically organizations can be up and running in less than 60 days.

Typical procurement process in StandFore starts with vendor selection by sending RFx (stands for Request for Information, Request for Proposal or Request for Quote) to the pre-selected or all possible contracting parties. Further follows negotiations of different kinds on price, technical specifications, payment terms, delivery, etc. Suppliers respond by sending their quotes along with any attachments needed.

Buyers can easily compare quotes received, accept or reject them and easily convert quotes into Purchase Order documents that present an intention to buy. Configurable approval rules and powerful state system allow for full control over purchasing process – documents of certain kinds can be forced to pass more “states” and to be approved by someone in charge.

Delivery process and the quality of delivered items are also fully controlled and automated. When a Purchase Order is received and accepted Supplier proceeds to executing it: delivering goods and services and sending Delivery Note to Buyer. Buyer performs acceptance procedures at his side and approves Delivery Notes to Suppliers confirming quantity and quality of goods received, which can be also disputed.
The flow ends with payment procedures: Invoice issuance according to final Delivery Note terms, at this point Supplier has an option to credit Buyer by issuing a Credit Note. Finally Payments are made to perfect the cycle of automation.

For Suppliers, StandFore Procurement/e-Marketplace helps level the playing field by letting customers access their catalogs online, make Requests with several clicks of the mouse, order within seconds, track order state and make payment as with real money so with credit notes. These easy-to-use features, and the ability to scale to meet the needs and demands of companies as they grow along with the effortless integration with ERP and payment systems allows for “no-pain” leverage of your profits.

Supplier starts with publishing its catalogues in the system thus allowing easy and convenient access to them for the wider range of companies. The fax or paper mail catalogues becomes obsolete as now customers can easily browse catalogues, which are constantly updated, compare prices and make orders with several mouse clicks.
All transactions are processed online, eliminating paper documents sending to and fro, reducing process cycle time and allowing easy automated e-mail notifications about new events.

For ASP Providers, StandFore Procurement/e-Marketplace is a feasible solution to break into the new markets or gain more competitive advantages in the existing ones. Being successfully approved in construction domain, it can be easily rendered into the most domains conceivable as it features a powerful customizable workflow and a multitude of really unique features.

One option here is becoming a middleman between Buyers and Sellers by setting up an e-Marketplace to which parties will move a part of their business negotiations, namely negotiations, procuring and invoicing. Many companies will eagerly join such powerful formations because they give them access to the wider range of contracting parties and do not demand investing into installing any additional software locally, configuring internal environment and training personnel. Subscription costs are not significant for them compared to the advantages they obtain.