It offers one-stop solution for end-to-end procurement which includes setting sourcing goals, defining sourcing strategy, creating projects for sourcing events, managing RFx, supplier collaboration, evaluation and awards and contract life cycle management. This is a highly configurable and easy-to-use solution. A reusable template-based process approach results in time saving and higher efficiency in carrying out various activities
Procurement departments in organizations face many challenges such as:
- Insufficient spend visibility
- Saving leakages
- Uncontrolled spending
- Disparate procurement systems and processes
- Challenges in contract management and compliance
L&T Infotech's ProcureFirstTM helps organizations overcome these challenges. It offers a one-stop next generation solution for end-to-end procurement that offers Supplier Relationship Management (SRM), Goals & Strategy Management, and e-Sourcing & Contract Management. ProcureFirstTM helps global organizations achieve sustainable savings across the source-to-contract process area. A reusable template-based process approach gives higher efficiency, and at the same time, takes it to the next level of excellence.
Key results include:
- Sourcing and category excellence
- Spend control and visibility
- Process standardization and efficiency
- Best practice-based sourcing and procurement services
- Improved compliance
ProcureFirstTM is a platform service offered as part of L&T Infotech's MOSAICTM digital transformation framework. ProcureFirstTMarchitecture enables enterprises to improve business agility, increase scalability, and quickly integrate with current enterprise system landscape. This platform can also be a bolt-on to existing ERPs or legacy systems.
ProcureFirstTM offers cost-effective and flexible pricing to clients through pay-per-use subscription model; flexibility through tenant-specific customization support for enterprises; industry-specific pre-defined processes for quicker implementation in a span of a few weeks instead of months; and technology future-proofing that reduces maintenance costs.
MOSAICTM is L&T Infotech's Digital Transformation Framework that encompasses Mobility-Online-Social-Analytics-IoT-Cloud