A ONE-STOP SOLUTION FOR OPTIMIZING YOUR PROCUREMENT PROCESS
How IFS Cloud Procurement gives you full coverage of your procurement process?
IFS Cloud Procurement is a solution that helps businesses optimize their procurement process from start to finish. It enables them to plan strategically, manage supplier relationships, source and procure efficiently, manage contracts, and empower suppliers and employees with self-service capabilities. With IFS Procurement, businesses can reduce costs, increase value, and improve profitability.
Optimize procurement activities by analyzing and managing spending and the supplier base. Create and organize procurement categories and hierarchies, covering both direct and indirect spending, as well as products/materials and services.
Provide support for data clean-up, spend analysis on invoices and expenses, visualization of spending, drill down to underlying transactions, and a categorization rules engine. These features enable users to work strategically with suppliers, define and assign category responsibilities, and develop category-based sourcing strategies. The module integrates with the spend analysis model and the Power BI spend analysis report, which offer easy navigation and exploration of different spending views and hierarchies.
Supplier relationship management
IFS Cloud Procurement module helps organizations manage their suppliers throughout their lifecycle, from qualification to phase out. Segment and categorize suppliers based on various criteria, assess and monitor their performance, conduct audits, and rate them. Provide a 360-degree view of suppliers that gives a comprehensive overview of the supplier’s profile, activities, and performance. The module facilitates effective communication with suppliers via email and enables users to manage day-to-day actions and tasks related to suppliers.
Supplier contract management
With IFS Cloud Procurement, you can create and maintain supplier agreements that include terms and conditions, pricing, and assortments. The module supports different types of supplier agreements, such as purchase agreements and blanket purchase orders. It also allows users to manage supplier price lists and price breaks, including stepped pricing. Use the supplier agreement in downstream procurement processes, such as requisitions and purchase orders, ensuring organizational compliance. IFS Cloud Procurement supports multi-site scenarios and can handle incoming EDI catalogs from suppliers.
Select reliable suppliers that meet terms and conditions, and improve profitability, risk management, and competitive position with IFS Cloud Procurement. It supports the tendering process, where users can create and send requests for quotation (RFQ) to potential suppliers, and receive and capture their responses. Compare and evaluate the responses based on various criteria, and select the most suitable supplier for their needs. The module also enables users to notify the rejected bidders and create partnerships and contracts with the approved suppliers. Integrate with the supplier assessment module, conduct audits, and monitor the performance of the suppliers.
Manage the procure-to-pay cycle, from creating and approving requisitions and orders, to receiving and inspecting goods and services, and matching invoices with receipts. IFS Cloud Procurement supports both direct and indirect purchasing, as well as materials and services. It allows users to manage change orders, expediting, returns, and non-contract-based price management.
Enable users to achieve better pricing from suppliers by centralizing purchasing across multi-site and global operations, and to automate or intervene manually in the procurement process. The module integrates with the accounts payable module, helping users import and match supplier invoices with purchase order and receipt information.
Empower suppliers with self-service support. IFS Cloud Procurement provides a self-service portal where suppliers can update and maintain their own company data, view and respond to requests for quotation (RFQs), view and confirm orders and deliveries of requested products, request delivery changes, access information on planned demand for pre-planning, and enable vendor-managed inventory (VMI). Allow suppliers to see the invoicing and payment status of their transactions. Enhance collaboration and communication between buyers and suppliers. Also, reduce administrative workload and errors.
IFS Cloud Procurement helps organizations enable their employees to easily and independently procure products and services from approved suppliers. It provides a self-service portal where employees can define the employee self-service procurement catalog, including from hosted supplier catalogs, and create a procurement request using the portal.
The module allows employees to request products from the catalogs and sites they have access to, as well as directly from suppliers’ web shops. It also supports staff with the option to self-serve, procure directly against a work order or project, and supports free-text searches and requests based on supplier descriptions. Guide employees through a simple and intuitive process that helps them find the right products and create accurate requisitions using the right suppliers.
The IFS Cloud is an evergreen solution. It creates value for users by providing instant access to continuous software innovations and upgrades. Major changes are delivered twice a year, in Spring and Autumn.
- Employee Self Service Procurement Enhancements;
- Provision of Capability to Procure to Other Legal Entities;
- Advanced Supply Chain Procurement functionalities – Supplier Schedule Enhancements;
- Contract Management Improvements – Material Surcharge and Price Elements;
- Addition of Procurement Categories per Supplier;
- Enhancement of Supplier Evaluation and Rating.
IFS CLOUD CUSTOMERS :
List of customers using IFS Cloud obtained from official IFS promotional materials (IFS Cloud).
EDI on your ERP system
IFS Cloud integration with EDI is a feature that enables users to exchange electronic trading data with their customers and suppliers using the IFS ERP system. EDI, or Electronic Data Interchange, is a standard method for transferring business documents between different systems. This functionality allows users to automate and streamline their sourcing and purchasing processes, reduce errors and costs, and enhance their management of supplier relationships.
Power BI integration for stunning visualizations and powerful insights
Power BI is a powerful and popular tool for data visualization and analysis, which helps users to explore and understand their data in various ways. Power BI integration with IFS Cloud allows users to connect to IFS Cloud data sources, use pre-packaged analysis models and report templates, create and edit reports and dashboards in Power BI Desktop or Power BI Service, publish and share the reports and dashboards with other users, embed the reports and dashboards in IFS Cloud, and refresh the data automatically or manually.
Sync, collaborate, and manage emails with Outlook
Access and manage IFS Cloud data and activities from within their Outlook email client. Sync Outlook calendar with CRM/SRM activities, such as appointments, tasks, and reminders, and view them in a unified dashboard. Use the IFS Panel in Outlook to create, update, and delete records in IFS Cloud, such as contacts, leads, opportunities, quotes, orders, invoices, and more. Attach documents and emails to IFS Cloud records, and view relevant information from IFS Cloud in their Outlook inbox.Streamline workflows, improve productivity, and enhance collaboration with customers and suppliers.
Deploy wherever you want
IFS Cloud is a flexible and scalable solution that can adapt to the changing needs of service organizations. It can be deployed on-premise, in the cloud, or as a hybrid model. It can also be configured and customized to suit different industries, geographies, and business processes. It can support any size of service organization, from small to large.
Always up to date (Evergreen)
IFS Cloud is a cloud-based solution that delivers the most advanced features and functionalities for your business needs. It follows a regular development plan with releases twice a year, in half year intervals, with versions R1 and R2. This ensures that you always have access to the latest innovations and improvements from IFS Cloud, without having to worry about the maintenance and upgrade costs. IFS Cloud is the smart choice for staying ahead of the competition.
Ready for modification and expanding
IFS Cloud is a solution that can be easily extended and customized to meet your specific business needs and preferences. One of the tools that you can use to extend IFS Cloud is Novacura Flow, a low-code platform that allows you to create your own ERP applications by simply drawing them in a graphical interface. Novacura Flow also offers business process management and integration capabilities, as well as a library.
DETAILED LIST OF CAPABILITIES:
Below we summarize the list of areas supported by IFS Cloud Procurement:
- Creates procurement categories and hierarchies
- Covers direct and indirect spend
- Covers products/material and services
- Data clean-up support
- Spend analysis on invoices and expenses
- Visualization of spend
- Drill down to underlying transactions
- Categorization rules engine
Supplier relationship management
- Lifecycle management
- Supplier assessment
- Supplier performance
- Supplier 360
- E-mail communication
- Tendering (RFQ)
- Selection and rejection
- Prospective and approved suppliers
- Supplier assessment (audits)
- Purchase requisitions
- Purchase orders
- Change orders
- Material requisitions
- Goods receipt, inspect & return
- Non-contract-based price management
- Process automation
- Direct and indirect purchasing
- Materials and services
Supplier contract management
- Purchase agreement
- Blanket purchase order
- Stepped pricing
- Purchase parts and supplier assortments
- Incoming EDI catalogs
- Multi-site support
- Self-service portal
- View orders and planned demand
- See invoicing and payment status
- Confirm orders and deliveries
- Respond to RFQs
- Request changes
- Vendor managed inventory (VMI)
- Suppliers can update and maintain their own company data
- Define the employee self-service procurement catalogue, including from hosted supplier catalogs
- Create a procurement request using the self-service portal
- Request products from the catalogs and sites that you have access to
- Allow employees to request products directly from suppliers’ web shops
- Supports staff with the option to self-serve and procure directly against a work order or project
- Support for free-text searches
- Support for free-text requests based on supplier descriptions
List of IFS Cloud Modules, Functionality and Key Capabilities
Explore 11 modules, 90 functionalities, encompassing a diverse range of 765 capabilities. Download the list highlighting the key functional capabilities provided by IFS Cloud (2023-R2). Novacura – Trusted by 220+ Companies.