Organizations from around the world are turning to web-based sourcing and electronic procurement to generate bottom-line savings. In fact, industry analysts estimate that electronic procurement can reduce the cost of generating a purchase order by as much as 60 percent.

Northcore's integrated sourcing and procurement solution, Asset Buyer, allows organizations to streamline purchasing processes and generate increased savings from buying activities.

CAPABILITIES
Asset Buyer is web-based and is quick to implement and enable organizations to automate the procurement process resulting in streamlined buying activities, improved tracking of assets and consumable products, and a fast return on investment.

Asset Buyer supports multiple e-tender formats including:

• Request for quotation
   
• Request for information
   
• Request for proposals
   
• Reverse auctions

Asset Buyer reduces procurement costs while generating increased value from suppliers.

With a library that stores templates, standard terms and previously issued tenders, Asset Buyer reduces the amount of time spent creating new tenders. The results are an accelerated procurement process, improved efficiencies and reduced tender creation costs.

Northcore also makes it easy to manage supplier lists and select vendors who should be notified of available tenders. Only qualified suppliers can then prepare online responses and be alerted of mandatory requirements. Suppliers, as a result, benefit from reduced tender creation costs and increased compliance with tender requirements.

After the close of tender periods, Asset Buyer automates the evaluation and scoring of suppliers' responses. Purchasing managers can then analyze all response results in detail, and select the supplier that provides the greatest value - whether it's lowest price, fastest delivery schedule, best after-sales support or a combination of all criteria.

BENEFITS
Northcore delivers a series of benefits that result in:

• Streamlined procurement processes - By automating interactions with suppliers and ensuring that tenders can be re-used for future use, Northcore helps accelerate purchasing cycles by as much as 50 percent.
   
• Improved purchasing decisions - Northcore provides advanced reporting capabilities that help purchasing managers analyze selection criteria and facilitate supplier selection.
   
• Reduced purchasing costs - Northcore's multiple sourcing and purchasing formats, such as reverse auctions, on-line procurement, and RFP, help organizations realize up to 20 percent savings on their purchasing expenses.
   
• Robust specifications and attachments - Increased information with robust attachments for site, engineering, specifications, specific compliance documentation and requirements can be attached to the RFP at time of creation or circulated to all qualified vendors simultaneously.
   
• Reduced IT investments - Northcore delivers its sourcing and procurement solutions through a hosted model, resulting in no additional investments in IT infrastructure.
   
• Increased value from suppliers - By facilitating on-line submission and collaboration between buyers and vendors, Northcore enables vendors to deliver increased value to the procurement process.
   
• Easy integration with existing information systems - By leveraging XML standards, Northcore enables complete integration with existing Enterprise Resource Planning (ERP) and supply chain management applications.

To explore how Northcore's asset management solutions can help your organization get more value from its capital equipment, please download a brochure, connect with us or schedule a demonstration of our capabilities.