Enterprise Source to Pay Software
Vendor Management, Reverse Auction, Integration with ERP (SAP, Oracle etc.) and Single Sign-on
30+ Years Of Experience
350+ Successful Product Installations
2M+ Assets Procured & Managed
500+ Global Clientele
TRAXX software manages vendor evaluation and empanelment, purchase requests with approval workflow, RFQ, Reverse Auction, Vendor comparison and selection and Purchase Order approval workflow. It has a Vendor portal with RFQ response, reverse auction and GRN / SRN / Invoice upload. TRAXX tracks delivery status and processes payments which can reflect in the vendor portal.
TRAXX Procurement Process
Purchase Request
Submit lightweight web-form purchase requests that undergo an approval cycle. If the requested item is within budget, the system checks for availability and notifies stakeholders if budget is insufficient.
Approval Process
Configure multiple approvals based on cost, asset group, department, or cost center. Log the activities of approvers, and notify stakeholders based on approval or rejection, moving the process forward or backward.
Catalogues
Pre-negotiate frequently procured items at specific prices for a defined period. Negotiate prices and durations with multiple vendor partners based on factors like geography and capacity. Add these items to catalogues for easy ordering without the need for RFQ processes.
Reverse Auction
Utilize configurable reverse auctions for negotiations, ensuring the best terms and cost savings. Vendors can view real-time updates on their ranking position and update prices or terms during the auction window to improve their position.
RFQ
Select vendors to send RFQs. Automated emails are sent to chosen vendors, who can log into TRAXX and upload their proposals. Vendors can submit proposals multiple times within the configured window.
User Satisfaction
Users can track the progress of their purchase requests and plan accordingly. Rate each purchase and provide feedback for continuous improvement, capturing valuable insights for enhancing user satisfaction.
Terms Engine
Assign different terms to different purchases, grouping them under specific heads within TRAXX. Purchase orders can be created with specific groups of terms.
Payment Tracking
Periodically trigger self-audits using our Audit module. Conduct fixed asset inventory and reconciliation by comparing audit data with the asset register.
PO, GRN, and SRN
After authorization by all approvers, the system generates firm Purchase Orders, which are sent to vendors along with terms, agreements, or contracts. Track delivery terms, accept goods and services under strict quality control, and utilize GRN and SRN functionalities.
Vendor Comparison
Vendors submit proposals through TRAXX, and the system displays them as a comparison statement. View rankings of different proposals based on factors beyond price. Provide specific or all vendor extensions for submitting proposals after multiple interactions before and after bidding.
Benefits of TRAXX
Benefits
Onboard The Best
Our thorough vendor onboarding process evaluates partners based on their strengths and compliance adherence, allowing us to onboard only the best.
Partner Delight
Our ongoing evaluation mechanism rewards high-performing partners, leading to both their satisfaction and an improvement in the overall quality of service.
Global Access
TRAXX p2r provides access to every member of an organization. Our browser-based system empowers employees to communicate their requirements to the management.
Quick Turnaround
Managers can quickly access a list of available equipment with a simple click, enabling prompt routing to purchase requests (PRs) and saving valuable productive time.
Best Deals
Our vendor comparison and reverse auction processes ensure that vendor partners offer their best deals, maximizing cost savings.
Transparency
Complete records of negotiation and vendor selection processes are securely stored in the TRAXX data store. They can be accessed in report format for audits.
Quality Control
Goods Receipt Notes and Service Receipt Notes undergo predefined quality control processes, ensuring the receipt of high-quality materials without defects.
Optimization
The procurement and asset management team has access to available assets for distribution, enabling them to procure new assets only when when an equivalent asset is not available internally for allocation.
TRAXX -
The User-Friendly
Cloud-Based Asset Management Platform
TRAXX is a highly customizable and
browser-based enterprise asset management platform. It leverages advanced web technologies to ensure reliability, stability, and security.
Accessible from any location through the cloud, TRAXX offers a user-friendly interface for seamless procurement & asset management.
