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What is Procurement Power?

Enhancing the profit margins obtained from suppliers can be a daunting task, often seen as a refined skill. In the procurement process, it is clear that suppliers do not consistently offer their most attractive prices, leading to an ongoing game of negotiations regarding profit distribution between your organization and the suppliers. The most favorable pricing is largely determined by the supplier's desire to win your business and their apprehension about potentially losing it. So, what is the most effective way to convey this idea? Procurement Power provides an efficient platform that encourages suppliers to compete against one another while being aware of their bidding standings, thereby fostering a fairer marketplace. Many Fortune 500 companies have acknowledged the benefits of this approach and have been utilizing various auction systems to engage their suppliers for several years. It is crucial to remember that every transaction comes with its own set of costs, which can vary depending on the type of item being purchased and the depth of negotiations undertaken. Moreover, grasping these nuances can facilitate improved decision-making and cultivate stronger relationships with suppliers, ultimately benefiting the organization as a whole.

What is JETRACT?

JETRACT is a cutting-edge cloud-based procurement software that aims to simplify the purchasing workflow. It encompasses a variety of E-Procurement features such as electronic auctions, request management, bid collection, approval processes, and delivery oversight. This platform allows organizations to strategically enhance their procurement operations effectively. In addition to saving time and cutting costs, our solutions also improve both transparency and reportability throughout the procurement process. By connecting suppliers on a unified digital platform, users can tap into a competitive environment for conducting effective auctions. Customize your auctions to fit your unique requirements in order to maximize savings potential. Moving to an electronic procurement system enables you to manage every element from bid collection and supplier evaluation to bid analysis, order handling, payment processing, and delivery monitoring, all within a single integrated system. Additionally, the platform allows for the analysis and generation of reports related to purchases across various projects and departments, thereby streamlining purchasing requests for your central procurement teams by incorporating all peripheral units and field teams into the framework. Ultimately, JETRACT equips organizations with the tools needed to refine their procurement methodologies, leading to enhanced operational efficiency and effectiveness. The comprehensive nature of the software also ensures that users can adapt to evolving procurement needs seamlessly.

Media

Media

Integrations Supported

Amazon Web Services (AWS)

Integrations Supported

Amazon Web Services (AWS)

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Serex Procurement Solutions

Date Founded

2013

Company Location

Canada

Company Website

www.serexprocurementsolutions.com

Company Facts

Organization Name

JETRACT

Date Founded

2016

Company Location

Turkey

Company Website

jetract.com/en

Categories and Features

Procurement

Asset Management
Auction Management
Bid Management
Budget Management
Catalog Management
Contract Management
Inventory Management
Invoice Processing
PunchOut
Purchase Order Management
Receiving
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management

Categories and Features

Procurement

Asset Management
Auction Management
Bid Management
Budget Management
Catalog Management
Contract Management
Inventory Management
Invoice Processing
PunchOut
Purchase Order Management
Receiving
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management

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