Oracle’s enterprise ERP system is a recognized technology for managing the entirety of a business. While Oracle offers solutions to manage everything from HR and Payroll to warehouse and supply chain, companies often realize that their requirements in a particular department or process don’t align with Oracle’s capabilities. Due to the rise in digital marketplaces such as Amazon, users expect an intuitive shopping experience that delivers the right search results quickly. Many businesses look to BuyerQuest to achieve this result.
BuyerQuest’s broad procure-to-pay platform offers companies a flexible deployment aligned specifically to their needs. Whether it is simplifying the shopping experience for users or managing the full procure-to-pay (P2P) process, BuyerQuest can deliver.
MarketPlace -- Simplifying the End-User Buying Experience
As we covered in our blog ‘Take Your Oracle, Procurement to the Next Level’ , BuyerQuest’s Private Marketplace solution provides a seamless buying experience for employees that need to make business-related purchases as part of their job, but are not regular procurement buyers.
Employee users enter the BuyerQuest Private Marketplace and search for the product they need. By using BuyerQuest, employees experience a more guided buying experience through the AI-based controls and friendly interface. Users find the products they need without seeing items that are unrelated to their role or purchasing authority.
Procurement executives can have peace-of-mind that user transactions in BuyerQuest Private Marketplace are subject to any approval controls or constraints configured in Oracle.
To help businesses more closely partner with and enable their suppliers, BuyerQuest allows suppliers to easily access the integrated marketplace to update their product lists, respond to RFQs, etc, all through a secure, web-based interface, improving the overall supplier relationship.
Procure-to-Pay -- Managing the Purchasing Process with Oracle as the System of Record
As mentioned above, businesses will use Oracle as their system of record but also have requirements for a more robust procure-to-pay process that delivers an intuitive user experience to manage direct and indirect procurement as well as their supplier collaboration activities.
BuyerQuest Procure-to-Pay manages the purchasing process from start to finish while integrating spend data into Oracle for seamless execution and reporting.
BuyerQuest’s easy-to-use interface and high levels of supplier engagement ensure active participation in the technology. High adoption and engagement ensure that purchases are being made on-contract and that suppliers are leveraging the technology for POs and invoicing, eliminating paper and improving overall workflow efficiency.
Invoicing -- Managing the Supplier Billing Process
For companies that need to more tightly engage with their suppliers through the invoicing process, BuyerQuest offers extensive capabilities while still integrating with Oracle.
For example, suppliers are able to access the BuyerQuest interface remotely to create and review POs, create invoices, and generally collaborate with buyers. BuyerQuest’s ‘one click’ Invoice creation from the PO Email, allows suppliers to save time and money.
A flexible range of invoice creation methods, including:
- PO Flip
- Direct Integration
BuyerQuest Marketplace’s invoice creation methods assure that all invoices from the supplier are efficiently and accurately brought into BuyerQuest for processing and are effectively integrated with Oracle.
BuyerQuest’s invoicing solution sends the approved invoices back to Oracle for record keeping or payment, with a seamless integration. In addition, payments can be made either within BuyerQuest or Oracle. In both cases, the invoice status and remittance information can be integrated into the Supplier Network for supplier self-service
A Real-World Example
Many companies that leverage BuyerQuest are also Oracle ERP users. These businesses achieve high levels of adoption and supplier engagement in BuyerQuest while managing broader business operations through Oracle ERP.
One company in the manufacturing industry was struggling to manage their direct and indirect spend while leveraging Oracle as their ERP. Through BuyerQuest, there were able to fully integrate suppliers into their supplier network, driving down operational and transactional costs, while also reducing overall IT costs and improving user adoption.
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