The product, which sits on the company’s central eProcurement platform, dovetails with its other services, including its eAuction and eRFX systems.
With high customer expectations, strict deadlines, finite budgets and fast turnaround times, buyers and other purchasing professionals have their work cut out. Consequently organisations are starting to take advantage of software to help manage procurement projects instead of letting their buyers take care of the workflow process manually.
As well as being task driven and totally customisable to fit with an individual organisation’s roles and processes, Trade Interchange’s new workflow management tool features:
- Gantt charts to keep track of all tasks
- ‘To do’ lists so that individuals and groups know where specific responsibility lies
- Automatic e-mail reminders so that tasks are flagged up and completed on time
- Integrated messaging for all stakeholders so that everyone is aware of progress
- The ability to attach documents and relevant data to projects
“Not only do these functions provide a consistent and transparent purchasing process throughout an organisation, they provide the means to measure, monitor and control several information systems from one place,” explained Simon Brake, CEO of Trade Interchange.
“There are also really rapid returns on investment. For example, it is no longer necessary to invest in separate auction functions and tracking systems. The new integrated system leads to greater collaboration and supply chain efficiency, more effective reporting, fewer errors and improved visibility for stakeholders and management,” he added.