MyProcureNet™ handles both direct and indirect goods and services purchase and addresses the corporate procurement problem by automating and streamlining the purchasing process. MyBiz offers buyers the opportunity to improve their control over procurement, ensure on-contract buying and reduce associated operational overheads.
The Purchasing function has become more sophisticated as more organisations recognise that a significant amount of purchasing power is wasted because of inefficient procurement processes. In large organisations, corporate purchasing is plagued by off-contract purchasing and inefficient and expensive manual ordering process. Organisations are also faced with high costs of processing typically high volume, low value purchases.
MyProcureNet™ is an award-winning relationship-based solution developed on MyBiz's proprietary business relationship engine - Covalence™. It is a web-based solution enabling organisations to reap the benefits of electronic procurement and supports online business transactions including auctioning, supplier management, sourcing, and order fulfillment.
MyProcureNet™ is offered both as an on-premises installation as well as a hosted service on the Windows Azure Platform, removing the requirement of hardware acquisition and management on-site. It has also been successfully integrated with banking and financing products to provide suppliers with both invoice financing and payment tracking from acceptance of delivery and approval of invoice for payment, to payment itself.
MyProcureNet™ addresses the key concerns in relation to purchasing in most organisations:
Solution offers comprehensive procurement functionality
Buyers have full control over purchasing process
Connects you with all your suppliers electronically through a single solution
Network-based solution allow you to reap the full benefits without up-front investment in expensive software and hardware
Scalable solution inline with your organisation’s growth and expansion