Procurement Automation Software

The Vendor is required to provide procurement automation solutions that support the end-to-end procurement lifecycle processes.
- Requirement:
1. Intake and request management
•    Guided (wizard) intake forms
•    Workflow routing (risk and legal reviews)
•    Request prioritization and triage
•    Review and approval flows
•    Management dashboard
2. Sourcing and solicitation management
•    RFX creation tools
•    Collaboration and stakeholder reviews while drafting
•    Supplier Q&A management
•    Electronic bid submissions
•    Evaluation workflows, pricing tabulation, and scoring mechanisms
3. Contract lifecycle management (CLM)
•    Authoring, redlining, and version control
•    Clause library and template management
•    Contract repository with advanced search
•    Alerts for expirations, renewals (contracts, insurance, bonds), obligations
•    Automated renewal workflows and recurring payment schedules
4. Supplier management
•    Supplier onboarding and registration
•    Supplier master data management
•    Performance scoring and KPIs
•    Risk monitoring
5. Requisition-to-order
•    Workflow automation
•    Catalog management
•    Guided or request
•    Budget validations and approvals
6. Invoicing and AP automation
•    Three-way and two-way match
•    Exception handling
•    OCR (invoice scanning) and AI data capture
•    Integration with ERP, tungsten, and customed developed solutions.