The new OSU eProcurement system will establish an automated system that includes an online shopping environment for OSU’s goods and services. In addition to the online shopping environment, the system brings software that will cover the entire Source-to-Settle-Process, including:
- eProcurement (ePro) to provide a one-stop marketplace for all goods and services and is very customizable and scalable to meet OSU needs. Powerful vendor catalogs and punch out functionality will provide an intuitive environment for online shopping.
- Accounts Payable (AP) to provide a touchless e-Invoicing &accounts payable process, real-time visibility and direct interaction with suppliers, sales orders, and invoices, which can lead to payment discounts. This includes real-time resolution and exception invoice management and an extensive reporting dashboard system.
- Vendor Management to automate supplier management from discovery and information gathering; through registration, qualification and selection; and then to risk and performance management. This includes a web-based, centralized repository and Formalized supplier vetting and performance management processes.
- Contract Management to provide end-to-end Contract Lifecycle Management, allowing stakeholders to be involved in the approval and management of relevant contracts and obligations. This will include a library of standard templates for various contracting needs, and a single point of information for contract terms and conditions.
- Strategic Sourcing to provide a means to create events, manage bids and award contracts automatically. I will offer a configurable workflow to ensure sourcing events, bids, and contracts are routed through proper stakeholders automatically. This will provide configurable workflows, RFP, RFI templates, and content libraries.
- Spend Analytics and reporting to enable putting real-time data and analytics to work at every stage in the source-to-settle process and quick cleansing and classification of data. Transparency into purchases during the entire process allows University Administration to pursue university-wide contracts and create strategic partnerships with key vendors.