PRM360 is a product developed by a startup aiming to digitize and simplify price negotiation processes. The central goal of the tool is to increase efficiency during vendor negotiations. Designed to host and manage online negotiations, users can invite their regular vendors, obtain quotations, and perform online comparisons. The tool is aimed at creating a competitive environment promoting vendors to offer their most advantageous prices. PRM360 can be utilized for transactions of any vertical, as long as the transaction value equals or exceeds 1 lakh rupees. The tool is positioned to generate average savings of 10-15%, offering no extra implementation costs since it seamlessly integrates with the user's existing procurement process. Additional features offered by the tool include procurement pattern identification, exploration of market trends for cost reduction opportunities and vendor management services to ensure users work with competitively priced and reliable vendors.
Do You Manage Peer Insights at Acads360?
Access Vendor Portal to update and manage your profile.
E-purchasing - very intutitive and easy to configure User own follow up - navigation trough different process step (from PR to PO Receipt and invoice/payment) Contract mgmt: vey complete module , easily adaptable to multiple internal processes Supplier management: high quaity module with plenty of capabilities int erms of categorization and due diligence/performance follow up ERP Integration - simple and straight
Analysis / Reports
- Reduced paperwork - Increased engagement - Streamline procurement process
Very stable platform, however whan issues comes (very rarely) Support not always reactive P2P - standard PR creation could be faster (too many clicks to add items) Mobile approval - layout not adapted and sometimes difficult to scroll/view relevant information
Master Data like product master and Vendor master data updation mandatory columns improper. and controls resulting in improper results after integration with Oracle application
- Difficult to integrate - Requires significant time and resources - Provides limited customization options