AI/ML Powered Industry Disruptive Full Suite Modular Enterprise Spend Management Platform Controls Financial Commitments and Risks

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RAINDROP

A portal that facilitates and enables the procurement process, for  companies, charities, or governmental organisations.

Procurement Portal

Enabling efficiency in corporate procurement: ensuring the selection of best in class service providers that are also the right fit for your business.   Enabling both cost effective service or product procurement on one hand, and ensuring that the services that your company buys in deliver the required competitive advantage. 

Procurement Services

Providing technology and / or services to support the new vendor sourcing process: from initial vendor landscape analysis, through to short listing, issuing RFIs (Requests for Information), issuing RFQs and RFPs (Requests for Quotes and Requests for Proposals respectively), going through the vendor and bid evaluation process, through to vendor selection, contract negotiation and signature.

Source to Contract (S2C)

Platforms, software / applications, including finance and ERP (Enterprise Resource Planning) systems that enable efficiency, control, and risk reduction, over the procure to pay process from requisitioning a product or service, through to receipt, and payment.

Procure to pay is also referred to as purchase to pay.



A key deliverable of Procure to Pay is Business Spend Management, BSM, and a subcategory of this is Expense Management,   Procure to pay platforms facilitate efficiency in expense management, and enable easy approval of reimbursements.

Procure to Pay (P2P)

A system, platform, software product, or service that enables effective management of the lifecycle of corporate contracts, ensures compliance with terms and conditions, manages renewals appropriately, and ensures payment of the right amounts at the right times, for the services contracted for.

With regard to software naming conventions: Contract Lifecycle Management software or CLM software can also referred to as Contract Management Software or a Contract Management System.

Contract Lifecycle Management - CLM

Robotic process automation (RPA) streamlines workflows, which makes organizations more profitable, flexible, and responsive. It also increases employee satisfaction, engagement, and productivity by removing mundane tasks from their workdays.  

RPA is non-invasive and can be rapidly implemented to accelerate digital transformation. And it’s ideal for automating workflows that involve legacy systems that lack APIs, virtual desktop infrastructures (VDIs), or database access. 