purchase to pay at its best providing solutions for hospitality professionals peace of mind

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1 purchase to pay at its best providing solutions for hospitality professionals peace of mind

2 welcome > > > > > > The Procure Wizard e-procurement platform is a web application ideally suited to the hospitality sector. Procure Wizard will help organisations with all elements of the procurement cycle from managing nominated suppliers to invoice processing. Procure Wizard will help reduce purchase prices, administration costs and help remove rogue purchases. Our Procurement Solution aims to streamline price negotiations with suppliers. Procure Wizard can accept / reject proposed price movements and control product visibility. Our Accounting Solution aims to automate the Purchase to Pay process whilst implementing your company procurement strategy and nominal coding policy. Our Purchasing Solution aims to provide a quick and simple ordering platform for your users to order items from approved suppliers. Users can create quick order templates and confirm delivered quantities. Our Food & Beverage Solution is tailor made for the hospitality sector and aims to streamline the process of menu and stock management. Our Quality Control Solution aims to enhance communication and monitor suppliers performance and quality. Our Supplier Portal Solution aims to improve all aspects of the Purchaser/Supplier trading relationship. Suppliers can maintain their own catalogue, prices and stock availability leaving Purchase Users confident of both the availability of products and the accuracy of prices. mission statement Providing solutions for procurement professionals Our aims are simple: To help significantly improve business processes for all departments - Procurement, Finance, Purchase Users and Accounts Payable, all within our easy to use web application. 1 > Procurement Solution 2 > Accounting Solution 3 > Purchasing Solution Save time and money Quick and Simple to use page 1

3 Providing Solutions purchase to pay at its best Procurement Solution 3-4 Nominated suppliers Approve price movements Approved products Restrict product availability user by user Price comparison supplier by supplier Exceptional reporting tools Accounting Solution 5-6 Invoice management Statements and accruals Purchase order management Budgetary control Seamless transfer to accounts packages Automated nominal coding Purchasing Solution 7-8 Quick order templates Personalised user settings Automated purchase order approval Repeat order functionality Daily reminders Committed spend Food & Beverage Solution 9-10 Food stock management tools Food consumption analysis tools Integrated menu costing and sharing Integrated food flash result Liquor stock management tools Comprehensive reports Quality Control Solution Monitoring performance Communication Brand standards Supplier KPIs Product quality Procurement intranet Supplier Portal Solution Price management Catalogue management Invoice management Supplier types Delivery rules & Stock availability 4 > Food & Beverage Solution 5 > Quality Control Solution 6 > Supplier Portal Solution improve and controls gross margins connecting suppliers and purchasers page 2

4 procurement solution > Manage Suppliers This easy to use application will enable Procurement Users to control and monitor a wide variety of suppliers, products and prices. The Supplier Portal enables suppliers to maintain their own product catalogue, stock availability and prices. >Nominated Suppliers Procure Wizard will enable you to manage your central supplier directory, helping to improve productivity for Procurement, Finance and Purchase Users. > Available Products Procure Wizard provides clarity of which products a supplier can present as available to purchase. Procurement can restrict product availability by Purchase User or Supplier helping to ensure that only authorised products are available to purchase. > Price Movement Price alteration requests by suppliers are entered by the supplier via the Supplier Portal. Price movements can be accepted, rejected or amended by Procurement. > Supplier Price Comparisons Ideal for shared supply agreements, commonly associated with Central Catalogue Suppliers. Procure Wizard can automatically split the order to the best value supplier. > Off Contract Products Finance or Procurement can allow off contract product requests. All off contract requests are alerted to Procurement and Finance for authorisation ensuring that the requirements of the customer are met, all without compromising the integrity of the company procurement strategy. > Price Change Impact In addition to alerting you to proposed supplier price changes. Procure Wizard will provide the key management information - old price, new price, % variation and cash impact based on previous consumption. > Off Contract Spend Procure Wizard will enable an organisation to completely remove all off contract expenditure, helping to eliminate rogue purchases from nominated suppliers. Nominated Suppliers Product & Price Management Purchase Users Purchase Order Approval Delivery Confirmation page 3

5 Save Time & Money purchase to pay at its best > Bespoke Purchaser Settings Suppliers can be restricted to some, many or all Purchase Users. Each Purchase User can have a pre- defined list of available products for each supplier. > Authorising Purchase Order Purchase Users with the appropriate authority limits will receive an e mail alert when a new purchase order requires approval. > Authority Limits Each Purchase User has a pre-defined approval limit for each supplier, ensuring that every order has been approved by the relevant signatory. Once an order has been approved the Purchase User will receive an automated alert. > Consolidated Reports The comprehensive reports functionality will enable Procurement to identify spend by product categories across multiple suppliers and units in a single report, providing real time and accurate management data that will aid future supplier negotiations. Invoicing Supplier Portal, EDI or Paper Invoice Reconciliation Automated Transfer to Accounts Software Integrated Food & Beverage Management Management Reporting page 4

6 accounting solution > Pre-defined Nominal Codes Standardisation of nominal codes can be automatically achieved for all purchase orders at the time of order creation, removing the need for timeconsuming analysis. Multiple nominal codes can be associated to a single supplier product, product category or the full range of supplier products. Every order created will automatically adopt the pre-defined nominal codes. > Automated Purchase Orders Procure Wizard aims to streamline your purchase order procedure, for both regular and ad-hoc suppliers ensuring all purchase order requests follow the pre-defined rules for all Purchase Users and suppliers. > Electronic Invoicing The use of the Supplier Portal or EDI will dramatically improve the accuracy of your PO/Delivery/Invoice checking whilst significantly reducing the need for accounts payable to handle matched and balanced invoices, leaving them free to deal with overcharges, disputes or cross referencing invoices submitted in the traditional paper format. > Invoice Matching Invoices are automatically reconciled line by line comparing the original purchase order and the actual delivery with the invoice. > Transfer to Accounting Software Matched and balanced invoices are automatically transferred from Procure Wizard to your accounts package, ensuring that every order has passed through your procurement policy, nominal codes have been accurately implemented and the invoice has passed a robust and automated 3 way matching process: PO/Delivery/Invoice. > Automated Returns and Credit Functionality If an invoice fails the 3 way auto matching process the invoice status will change to does not balance. Our application will automatically identify price and product variances creating a recommended supplier credit request. > Statements and Accruals System generated accrual reports will accurately identify committed expenditure by nominal code and supplier. Suppliers can self service check their invoice status by generating statements via the Supplier Portal reducing the need for suppliers to query their invoice status with your accounts payable team. > Consolidated Reports Supplier invoices, accruals and committed expenditure can be analysed across an entire organisation via our comprehensive reporting functionality. > Budgetary Control Procure Wizard will provide users with real time and accurate information detailing the committed expenditure and providing users with the tools required to both manage and monitor expenditure. page 5

7 Improve Control purchase to pay at its best > Ad-hoc Suppliers Occasionally there will be a need to place orders with ad-hoc suppliers. Purchase Users can create purchase order requests for goods with an ad-hoc supplier. If the order is approved, the order management will follow the same work flow as a regular supplier. > Committed Spend and Authority Limits Procure Wizard will aid budgetary control, helping users identify committed spend. A unique pre-defined limit can be attached to a user when creating purchase orders for approval. If a user is below their authority limit orders can be automatically transmitted to the supplier. > Stocktaking Accurate stock sheets are automatically created and the stocktaking functionality provides both a closing stock value per item and consumption per item over a given date range, helping to monitor KPIs and identify wastage and shrinkage. > Automated Alerts Procure Wizard will alert key users via our alerts functionality removing the need for users to actively seek information. For example, purchase orders requiring approval are automatically alerted to the appropriate signatory for approval. > Streamline Processes Electronic Invoicing Procure Wizard will help you reduce the administration burden of invoice checking and processing Procure Wizard aims to remove double entry from many common accounting tasks from purchase order management to invoice processing. page 6

8 purchasing Procure Wizard is a quick and easy to use ordering portal, it has an air of familiarity for users who have previously purchased goods online. Our layout and terminology follow a similar layout to the leading supermarkets, music download sites and airline and hotel booking sites. We have developed our system to be intuitive, quick to learn and easy to use. The Procure Wizard LIVE SUPPORT feature provides instant access to the Procure > Personalised User Settings Each Purchase User s settings are unique to them. Procurement can control the available products whilst Finance can set the authority limits and nominal codes. > Quick and Simple to Use Purchase Users will find the purchasing portal quick and simple to use, both for the creation of orders and the confirmation of delivered items. > Quick Order Templates Each Purchase User can fine tune and create unique order templates that can be tailor made to replicate each Purchase User s preferences. > Product and Supplier Price Visibility Purchase Users have complete visibility of both the availability of products and the suppliers who are offering to supply the goods or services. If more than one supplier is quoting for the goods or services Procure Wizard will automatically highlight the best value option. > Order Sheets Order sheets can be printed directly from Procure Wizard replicating the normal working practice of kitchens around the country. Order sheets can be fine tuned to replicate the unique requirements of each Purchase User. > Best Price Purchasing solution Procure Wizard can highlight alternative products at the point of ordering if a better priced option is available. Analysing alternative brands and pack sizes. Wizard Support team page 7

9 Quick & Simple to Use purchase to pay at its best > Price Comparison For shared supply accounts, commonly associated with central catalogue suppliers, Procure Wizard can automatically split the order to the best value suppliers. > Receiving Goods When goods are received Purchase Users return to the original order and simply confirm / update the actual delivered quantities. Variances to the invoice goods will be automatically highlighted with a recommended credit created. > Daily Reminders Purchase Users can create daily reminders. These can be used as a prompt for order creation deadlines. > Expected Deliveries All expected deliveries are displayed on the Purchase User dashboard. > Ad-hoc Suppliers Finance or Procurement can allow Purchase Users to create purchase order requests with an ad-hoc supplier. All requests are referred to Procurement or Finance for authorisation. > Standing Orders Purchase Users can create Standing Orders for frequently purchased items commonly associated with dairy and bakery suppliers. Comparing Apples with Apples Procure Wizard can compare and highlight the best value products from your nominated suppliers with purchasing recommendations page 8

10 food & beverage solution > Liquor Stocktaking Our integrated advanced stock control system analyses both product consumption and the expected sales value. Multiple bar and selling prices can be entered and maintained ensuring that the most complex of scenarios can be catered for. > Food Stocktaking Accurate stock sheets are automatically created, the stocktaking functionality provides both a closing stock value per item and consumption per item over a given date range. > Consumable Stocktaking The stocktaking functionality within Procure Wizard is ideally suited to monitor and manage a wide variety of consumable items providing both a closing stock value and a line by line consumption analysis. > Material Variance Analysis Identifies over production and wastage by cross referencing the products sold and product consumption. > Flash Gross Margin Automatically updates and re-forecasts the monthly food purchases comparing the committed expenditure against the budgeted cost of sales and the actual revenue, ensuring that all committed expenditure is included within the cost of sales analysis and helping to achieve and improve the targeted gross profit margin. > Menu Driven Ordering By entering the number of expected covers Procure Wizard will accurately re-forecast the stock requirements and prepare section production sheets. > Stock Management Reports Real time and accurate stock management reports will help ensure that all products ordered can be tracked and compared with both sales and budget. > Gross Margin Reporting The gross margin report provides instant management data that will enable hospitality professionals to make informed decisions to both improve and protect the profitability. page 9

11 Improve & Control Margins purchase to pay at its best > Recipe Costing The integrated menu costing functionality will enable authorised users to create and cost a recipe once. As purchase prices change the recipe will automatically be re-costed with the new cost prices, providing instant, accurate margin analysis with the management information required. > Company Recipes Bank Company administrative users can create company wide recipes that can be shared with local users. Company recipes are automatically re- costed. > Local Recipes Bank Local users can access recipes from the company recipes bank, they can also create new local recipes that can be submitted for inclusion within the company and system recipes bank. > System Recipes Bank Company administrative users can adopt recipes from the system recipes bank. > Data Transfer Procure Wizard aims to remove double entry from food and beverage control. The fully integrated solution eliminates much of the manual data entry. ensuring recipe and stock data is automatically updated as goods are delivered and prices change. Recipe management Our recipe costing solution allows one-time only costing as recipes are automatically re-costed as either selling or cost prices change page 10

12 quality control solution > Communication The key to excellent quality control is the ease of communication between the Purchase Users and those responsible for monitoring and implementing group wide brand standards. > Purchase Orders Procure Wizard creates a paperless purchase order management process. All purchase orders clearly state the product specification and description, including the suppliers product code, contract price and quantity required. > Procurement Intranet Site Procure Wizard provides a fully editable intranet site, enabling Procurement to interact with all Purchase Users each time they login to your Procure Wizard purchasing portal, ensuring that users are kept up to date with all company wide procurement activity. A well managed intranet site will improve the communication between the Purchase Users and the procurement department. > Delivery Quality Feedback Purchase Users can easily record and report problems with product quality at the time of delivery via our easy to use quality feedback form, ensuring that those responsible for monitoring group wide supplier performance are aware of issues and can if required take action. > Order Management Cycle Procurement users can monitor the entire order management cycle, from purchase order creation to completed and matched invoices. > Brand Standards Procure Wizard will enable Purchase Users to fully comply with the company brand standard, ensuring that both rogue products and suppliers do not enter your procurement cycle. > Product Visibility Permitted products can also include detailed descriptions and photographs helping to ensure that purchasers can view the full product information prior to selecting items for inclusion within their order. > Price Visibility As purchasers are selecting items for inclusion within their basket all prices are visible, including the price for similar or comparable products. If more than one central catalogue supplier is permitted to supply the product both prices are visible. Procure Wizard can automatically select the best value supplier. page 11

13 Quality, Service & Reliability purchase to pay at its best > Improved Compliance Purchase administrators can restrict the available products on offer from suppliers ensuring that only products that meet the company quality standards are available for selection from nominated suppliers. > Off Contract Expenditure Procurement administrators can enable the creation of text based product selection, ensuring that Purchase Users can procure items to meet special needs for one off events. Procure Wizard will alert the procurement administrator of any text based products ordered enabling Procurement to consider adding to the company wide list of permitted catalogue items, negotiate a price or prevent the order from being fulfilled by the supplier. > Price and Product Disputes The supplier order management filters will enable Procurement to monitor and measure the success of the supplier s order fulfilment rate and accuracy of invoicing over a given time period, helping to ensure suppliers are meeting the delivery and invoice management KPI s. > Supplier Performance Purchase Users can be invited to rate supplier performance based on a scoring mechanism over 6 key performance areas, providing a group wide amalgamated result. Additional comments can be added by purchasers if required. Monitor supplier performance Procure Wizard provides the tools to monitor all aspects of supplier performance page 12

14 supplier portal The Supplier Portal will enable suppliers to trade electronically with purchasers regardless of their IT capability. The Supplier Portal will enable suppliers to manage all aspects of their trading relationships with purchasers in a simple to use application without the need for any IT infrastructure or hardware. All that is required is a simple internet connection. > Invoice Management Suppliers have the option of submitting invoices in the traditional paper format or directly into Procure Wizard via the Supplier Portal. Suppliers can also transfer invoices from their back office directly into Procure Wizard via our EDI interface. > Price Change Approval A simple file export and import will enable suppliers to quickly update their price files. All changes made and subsequently accepted by the purchaser will be notified back to the supplier. > Delivery Rules & Stock Control Suppliers can preset the delivery rules ensuring that purchasers can be confident that orders placed will be fulfilled in line with the supplier agreements. Suppliers can also mirror their minimum order policy ensuring that orders created within Procure Wizard fully mirror your supply agreements. Suppliers can also control product availability by simply marking items within their catalogue as out of stock, helping to ensure that Purchase Users are aware of stock availability prior to committing the order. > Supplier Types solution CC Suppliers select products from our Central Catalogue creating their own unique price lists. CC Suppliers can trade with multiple Procure Wizard Purchasers from a single login. UC Suppliers create unique products specifically for inclusion within their catalogue. UC Suppliers can also trade with multiple Procure Wizard Purchasers. SM Suppliers are self-managed suppliers created by Purchaser Administrators. The Purchaser may also choose to share the ongoing management of the supplier catalogue and prices with a supplier user. SM Suppliers create unique products specifically for inclusion within their catalogue and are limited to trading with a single purchaser. Ad Hoc Suppliers are created by Purchase Users for the purpose of creating one-off purchase order requests. page 13

15 Connecting Suppliers & Purchasers purchase to pay at its best > Receiving Orders Orders are sent to suppliers by E Mail, Fax or EDI depending on their level of capability. The original purchase order includes all the key data required for suppliers to accurately fulfill the order. > Acknowledge Orders After an order has been approved by the puchaser, orders are sent to the suppliers for acknowledgement. Purchasers are alerted when suppliers acknowledge an order. > Help Desk and Support The Procure Wizard supplier enrolment team will work closely with the suppliers enabling them to be up and running within a few hours. Our Support Desk will provide ongoing support and training and users can choose how they wish to access this support. This can be by telephone or or by using the Procure Wizard online LIVE SUPPORT feature. > Catalogue Management Procure Wizard will provide the necessary training to enable your suppliers to maintain their catalogue, add and remove products as required. > Confidentiality Price lists and trading relationships created within Procure Wizard are not visible to other suppliers or purchasers. > Adding Suppliers Connecting people Procure Wizard will ensure a transparent relationship exists between the purchaser and the supplier New suppliers can be added and can be trading within a few hours, our online sign up process captures all the necessary information. page 14

16 Peace of mind purchase to pay at its best E: W: