| 8thManage automates the strategic sourcing process to create greater procurement intelligence and negotiation power and avoid unnecessary human interventions which might create confidentiality issues. It automates transaction procurement activities to achieve higher levels of efficiency, compliance and cost-savings.
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| Besides eSourcing and eProcurement, 8thManage also supports Supplier Relationship Management and Portfolio and Project Management for the sourcing and acquisition of complex products and the management of the long-term services such as strategic outsourcing. |
Supplier Info Mgmt  ───────────────────────────────────────── |
One of the crucial steps in supplier management is the ability to locate the best supplier quickly and have complete transaction history to support decision making. 8thManage Supplier & Procurement Management provides comprehensive supplier information in the following ways:
● Profile information including general information,
organization information, contact information, legal
information, financial information and credential
information
● Products and services offerings
● Interaction records and action items, and opportunities
● Performance information including revenue records,
contract and order information. |
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| ───────────────────── Product Info Mgmt ──────────────────── |
| 8thManage provides the following basic and advanced product management features to manage supplier products: |
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● Product price control to ensure that products and services
that are being purchased are within reasonable price
ranges
● Comparison of prices, services and other terms and
conditions of the same product offered by different suppliers
to ensure the most appropriate selection
● Product and supplier approval mechanisms to ensure
qualified products and services provided by qualified
suppliers
● Supplier self-services facility to reduce the overhead of
updating supplier product information and to allow it to be
updated in a timely manner
● Real-time inventory update mechanisms based on
transactions to reflect up-to-date product inventory
● Facility for setting and detecting minimum inventory levels
and an automatic alert for replenishment |
| ─────────────────────────────────────────────── Purchase Plan Mgmt
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Using 8thManage, different departments can formulate different plans for their different spending categories for purchases. The 8thManage Purchase Plan provides the following features:
● Identification of all items that need to be purchased and the
ability to link items to a schedule for managing the timing of the
purchases
● Intergration with the product inventory function to effectively
avoid overabundance
● Directly linkage with Purchase Orders to reduce manual input
and errors
● Management of fulfillments according to the plan and tracking
deviations
● Automatic alerts during the entire purchase planning and
execution process
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| Pre-selection Mgmt ──────────────────────────────────────── |
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The most important element of pre-selection management is not what decision is made but the process employed to make it. The pre-selection process can help to validate the sourcing strategy, increase the understanding of the suppliers, and uncover pitfalls to avoid future problems. The pre-selection process involves extensive communication and documentation and the control of conflicts of interest. 8thManage provides a framework for effective supplier pre-selection based on industrial best practices to help organizations to conduct pre-selection in an diligent manner. |
| ───────────────────────── eTender ─────────────────────── |
| 8thManage provides an effective framework for creating plans and strategies for different types of tenders. It supports the end-to-end process of eTendering and tracks the following: |
● Short listing
● Document preparation
● Issuing
● Responses form Supplier
● Evaluation
● Final Selection
● Announcement
8thManage provides web access for tender solicitation, communication and submission for all parties.
● Each bidder can log into the system and access the identical
info.
● Tender information is electronically available to all bidders at
the same time.
● Electronic discussion forums to ensure every bidder will receive
the same Q&A info at the same time.
● Each bidder can submit its tender response to the system; the
system will automatically cut off submissions at the deadline.
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| ──────────────────────────────── Purchase Order & Contract Mgmt |
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8thManage supports the entire procurement process from purchase requisition to payment. Purchase orders, invoices and payment requests can be managed by each department separately and by corporate as a whole. 8thManage also provides a framework for sophisticated contract management for complex acquisitions.
● Define contract scope and deliverables
● Define measurements
● Cost budgeting and approval
● Managing execution
● Tracking change requests and resolutions
● Tracking results |
| Supplier Relationship Mgmt ─────────────────────────────────── |
| Supplier relationships can be convoluted and multi-dimensional (business, financial, legal, technical, product-related, service oriented). The common practice today is to assign a person to manage the relationships. Even if the person is experienced, without the transparency of information that allows both sides to clearly see and promptly resolve problems, distrust and frustration can build up. 8thManage is a powerful supplier management platform for creating and providing transparency for supplier-related information, helping people to establish and incrementally build up trust and stronger relationships over time. |
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| ───────────────────── Outsourcing Mgmt ──────────────────── |
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8thManage manages outsourcing in 4 stages, namely Goal Management, Discovery & Strategy Management, Transition Management and Monitoring, Tracking & Acceptance. The goal-setting phase has the greatest influence on the success or failure of an outsourcing initiative. The establishment of unrealistic or vague goals will result in shortfall in management expectations during execution. Discovery is the process of documenting the environment to be outsourced. In 8thManage, multiple discoveries allow goals to link to activities to ensure they are executed according to plan. Transition is the process of moving from the insourced environment to the outsourced environment. Beyond Transition Management, 8thManage offers best practice to monitor progress, track deliverables and document acceptance records. |
| ─────────────────────────────────── Complex Engagement Mgmt
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| In complex engagements, there will be different accountabilities
associated with different people in buyer and supplier
organizations. 8thManage supports the management
of accountabilities across groups and enterprises; and the ability to monitor and track your resources and your suppliers’ resources allocated for projects and programs. This includes the tacking of resource experience and expertise, resource commitments, allocation time vs. actual utilization time, planned resource cost vs. actual resource cost, detection overloaded and inadequate conditions and automatic calculation of resource costs in projects and programs. In all cross group project and program management, 8thManage supports all 9 areas of project management practices defined by PMI |
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| Security Mgmt ─────────────────────────────────────────────────── |
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8thManage provides the eBanking equivalent level of security to protect eSourcing and eProcurement information and transactions. 8thManage Security features are highlighted as follows:
● User Authentication (Form login, SSO and 2FA)
● Access Control and Authorization
● Password Management
● Data Security (Sensitive Data Encryption)
● Network Communication Security
In addition, 8thManage provides the Audit Trail facility to allow the user to navigate the change history and trace business data changes.
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