Supply Chain & Procurement Software
Costpoint Supply Chain & Procurement is an integrated solution to help you reduce procurement cycle times and improve days payable outstanding.
Government Procurement Software
Improve efficiency and reduce cycle times with Costpoint Procurement. Our robust procurement software helps you digitalize and streamline the entire source-to-pay process—from vendor selection to material collection and payment—through one secure system with compliance support. Effectively manage subcontractors and vendors across the entire project lifecycle and access key data with the integrated Procurement Dashboard for faster and better strategic decision-making.
Benefits of Costpoint Procurement Software
Single Integrated Solution
Improve days payable outstanding and reduce cost and transactional issues with one integrated system.
Built-in Compliance Support
Ensure proper flow down of FAR/DFARS and other regulatory requirements.
Process Optimization
Increase efficiency to leave time for strategic initiatives, including improving vendor relationships and minimizing spend.
Features of Costpoint Procurement Software
Optimize the Procurement Process
- Digitalize and automate procurement processes to minimize data entry and shorten cycle times
- Improve company-wide efficiency by seamlessly integrating with finance, contracts and more
- Reduce days sales outstanding and improve days payable outstanding with expedited payments and invoice approvals
Simplify Vendor and Subcontractor Management
- Automate contract flow downs, vendor NAICS and business classifications to the purchase order
- Improve first-time match rate by bringing PO, invoice communication and approvals into the Supplier Portal
- Improve vendor relations by providing vendors a secure and efficient way to communicate and transact business
Reduce Procurement Cycle Times
- Utilize purchase order types such as subcontractor, blanket and government furnished materials
- Analyze buyer and supplier performance and monitor approval inefficiencies
- Quickly see costs incurred and open commitments by project and utilize digital signatures for invoice transactions
Traceability Government Contractors Need
- Capture every inventory transaction every time for audit trails and visibility to requests
- Utilize serial and lot number traceability to include tracking of fixed assets from acquisition to disposal
- Mandate inspections, record subcontractor socioeconomic status and more with built-in compliance support
Implement Strategic Source to Pay
- Gain visibility into all aspects of the source-to-pay process for spend analytics, vendor performance and more
- Leverage procurement reports and dashboards with security controls specific to government contracting
- Maintain audit readiness with all data and transactions captured and reported in Costpoint