Vendors Management Systems

Vendors Management Systems Setup

  • The vendors’ management systems are:
    • Vendors Management System.
    • Purchases Management System.
    • Approvals Management System.

Vendors Management Systems Setup

  • This system is used to document items and vendors data in the purchase transactions. Therefore, users select the suitable options and procedures, and define tools and detailed data that will be documented.
    Vendors Management Systems Key Features
    – Organizing dealing with the items and vendors and recording their prices.
    – Monitoring the organization’s purchases and comparing quotations.
    – Dealing with the services as items.
    – Approving vendors’ dues serial.
    – Monitoring letter of credits, their costs, and distributing their charges.
    Vendors Management Systems Key Functions
    Auditing Functions
    – Issuing purchase request to approve items.
    – Studying suppliers’ quotations to make comparison and selection.
    – Issuing purchase order based on the quotations or the organization’s needs.
    – Issuing local or external purchase receiving.

  • Local Purchase Functions
    – Adding vendor discount to the purchase invoice.
    – Adding vendors contracts with their contractual and financial details.
    – Issuing local purchase invoice with the provision order items.
    External Purchase Functions
    – Open letter of credit based on the purchase order.
    – Issuing an external purchase invoice with the letter of credit data.
    – Adding the required shipping data to the external purchase orders.
    – Recording the external purchase costs and closes the letter of credit.
    Purchase Receipt and Payment Functions:
    – Inspecting purchase order items.
    – Issuing return invoice including its data and purchase charges.
    – Distributing vendors’ installments according to their dues sequence.
    – Issuing bills of exchange and closing them using the approved options.