Costpoint Procurement Video The New Supplier Portal
If you find yourself spending too much time searching through emails for vendor information, supplier updates or subcontractor changes, you will appreciate the way the new Costpoint Supplier Portal from Deltek consolidates all information and streamlines communications surrounding purchase orders (PO) between your buyers and your vendors, suppliers and subcontractors.
You can reduce procurement cycle times and have a key component of the Contractor Purchasing System Review (CPSR) ready in a matter of a few clicks. By keeping everything in one system, you and your vendors eliminate lost due dates and you have all communications, to include those with your subcontractors, automatically captured and logged for audits. Everyone stays on the same page.
When you log on, you see the buyer dashboard with additional information from the Supplier Portal, allowing you to quickly see everything on one screen, such as what is past due, what is due and pending supplier actions. Plus, you can customize the time-frames.
Suppliers can log in using their unique user ID and see only the POs with which they are involved. Suppliers also see the table of chronological emails and have a similar dashboard that helps them quickly see the status of, and action items, for each purchase order. They now have 24/7 access to see what is going on and have the ability to provide updates, keeping your purchase orders organized and top of mind .
How does it work? You issue a PO to a supplier. They receive an email with a link to the Costpoint Supplier Portal. They click on the link and acknowledge the PO while also possibly submitting a change request. The system automatically emails you, logging the sent email and received emails on your respective dashboards. You can then accept the proposed change or further change it. As this back and forth continues, Costpoint tracks these emails, who did what and when, creating an audit trail. It also updates the dashboards. You and your suppliers can see a concise table view on the action history screen.
Once the PO changes are accepted the system can update the PO for you. This automation means less data entry, better tracking, and improved accuracy, for all parties.
Watch this Supplier Portal video snippet to see how a supplier quantity change request is quickly handled and automatically logged.
With the Supplier Portal, you make it convenient for vendors, suppliers and subcontractors to communicate with you and facilitate the flow of information.
Three benefits service companies and manufacturers delivering on government contracts will see with the new Costpoint Supplier Portal:
- Accelerate procurement cycle time
- Automate to reduce the time involved to place a PO by reducing data input, time taken to confirm receipt by supplier, and time taken to respond to, and track changes.
- Reduce procurement process costs
- Enable buyers to process more purchase orders in less time so they can focus on strategic initiatives such as enhancing supplier collaboration and reining in spend.
- Reduce risk and control disaster when it strikes
- Communicate effectively, efficiently and instantaneously to build trust and prompt collaboration with your suppliers and subcontractors.
Check out this Costpoint Supplier Portal Webinar to see it in action. Jonathan Davis, our Senior Solutions Engineer provides a firsthand demonstration from both the buyer and vendor perspective.