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Procurement Management System

Generate purchase orders, goods receipt notes, inward gate passes, and purchase invoices with Forsa ERP’s procurement management system.

Procurement Management is a challenging process that needs to get done accurately. For this purpose, Forsa ERP has introduced software to manage all the purchases of the company. It offers an inclusive system to make a proper planning of resources. As the process is automated, so there is no hassle of manual tasks. It also successfully manages the record of procurement of goods. It also gets referred to as a purchase management system. It enables the admin to check the finances of all the goods and services involved in it. Sections get made for this purpose which includes resources, vendors and suppliers.

Our company offers comprehensive software to manage all these processes. Procurement Management gets done flawlessly when the system streamlines all the methods. Moreover, it also generates purchase orders, receipts, passes and purchase invoices. Any firm can acquire insight into its business and its purchases with the help of this software. All the purchase-related information gets provided, which quickly provides invoices and receipts.

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This software isn’t only confined to the core features but also provides numerous benefits. Forsa ERP covers all the features which get required in this process. It includes:

Purchase Orders: This feature enlists the type of products that need to get purchased. The quantities and prices also get provided in it.

Supplier Database: The purpose of this feature is to provide all the details of goods and services. Project Procurement Management contains name, address, phone number and price of goods.

Credit Card Support: It also provides the option of credit cards for its customers. They can purchase the goods by credit card, and the details get entered into the database.

Contract Management: It is beneficial to store all the contracts signed with the customers for purchases.

Source Queries: This feature gets utilized to look for the suppliers that can conduct the procurement.

Supplier Audits: Verification of the purchased goods is necessary, which gets processed by supplier audits:

Second Sources: This feature gets used to getting hands-on the best and cost-effective raw material in the market.

Forsa ERP’s Procurement Management Plan gets comprised of six modules. They also contribute to the management of all purchases. Following are the modules of this software:

Purchase Requisition Sub-Module: This module helps list all the details of purchases and their quantities and prices. It also lets the firm know if the order got placed. Therefore, it is essential to create the option of purchase requisition so the order gets placed smoothly.

Purchase Quotation Sub-Module: Quotations are the prices of products that get provided by the vendor. These quotations get acquired once the order gets placed. This module is essential because otherwise, the products don’t get supplied.

Purchase Order Sub-Module: Procurement Process also contains the module of the purchase order. The order reaches the firm once the purchase requisition and quotation get finalized. It also allows recording all the information of the customer. i.e., product, quantity, price and name. It also gets used to purchasing goods and services from outsourcing companies.

Goods Received Sub-Module: This feature is an integral part because it records all the information of the received goods. In addition, this module records product quantity and prices as well.

Landed Cost Sub-Module: Landed cost gets calculated by acquiring the total cost of the product. It includes the shipment fees, product price, customs, and other taxes. The landed cost gets provided once the product reaches the location. Procurement Management successfully manages all these details and secure them in a database for the record.

Purchase Invoice Sub-Module: Once all the processes mentioned above get completed, a purchase invoice gets provided. It contains the detail of landed costs for the record. Since the purchase module gets integrated with the finance module, so the invoice is automatically generated.

Forsa ERP’s software contains all the information of previous and current purchases. Because of unlimited storage space, the system can enter all the past, present and future data. It shows that all the information is accessible for everyone smoothly. This process is secure and beneficial for all firms.

The fully integrated and comprehensive Project Procurement Management provides many benefits. The advantages of Forsa ERP’s software are following:

Integrated business procedures: The integrated and automated processes have simplified all the purchases. Moreover, it also enhances the communication between vendors and the company.

Strategic decision-making: No firm can become successful until they work with a good strategy. The procurement of raw materials should always get done with good decision making.

Real-time information: It is about the required business decisions which should get taken on time. Only then does a successful procurement gets assured.

Forecasting: This is about making exclusive future decisions related to the procurement of goods. Procurement Management Plan gets done by working on all the latest trends.

Price comparison: It enables the firm to make a comparison of prices of all goods and services. It makes it easier for the firm to choose a better option.

Ease of implementation: All these features are easy-to-use and work smoothly.

Cost savings: Once the details of all the products get provided, it saves the cost by choosing the most reliable product.

Single reporting system: It gets done by providing a centralized system for all the processes. Single reporting gets ensured by communication with an integrated approach

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More than Just BusinessPROCUREMENT

The purchase management system of the Forsa ERP software gives you a holistic view of all procurements made by your company. The meticulous records kept by this open-source tender management system allow you to have a list of past and potential vendors at hand, determine the best price for a particular good or service, and use past trends to regulate the purchase of raw materials.

Forsa ERP offers to add and subtract features from your purchase management system according to the requirements of your business, giving you procurement and inventory management software that helps you keep track of and manage the specific purchases made by your company. Designed to suit your company’s unique structure, Forsa ERP’s procurement management system encompasses distinctive features to best manage your procurement-related processes.