The platform has been designed to enable Farnek to increase efficiency and improve delivery times via its automation of the procure to pay process, covering supplier online registration, the purchase request to purchase order process, timely online approvals, delivery notes, supplier invoicing and payments, tendering, as well as contract tracking and reporting, through the utilisation of online dashboards.
The typical benefits of the e-procurement system include reducing the number of manhours on menial tasks, including paper-based documents and approval processes, which are now completed efficiently via the application and also cuts out the need for hard copy filing, because everything is saved digitally on the system. The tendering process is also simplified and completed almost exclusively online, promoting an enhanced selection process and accommodating smart comparisons.
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