During procurement process, a lot of manual workflows need to be built by the Procurement Team.
Logix Cost Center (Approval Management) is entirely based on SharePoint online platform for Procurement approvals that is used to track, manage and store approval requests and associated reports. It is also capable of keeping records of various types of requests raised by different users (history tracking). Though the term has some overlap with the concepts of Purchase management systems, it is often viewed as a component of enterprise Procurement management (EPM) systems, related to digital tracking, workflow systems and records management systems.
Cost Center will help Organizations to automate most of the process and budget allocation as well as automate requests approval process as per predefine information as well as authoritative hierarchy.
Cost Center provides complete overview of total procurement request generated by specific departments / users or entire organization. As well as it helps to control departmental wise finance control / project level budgeting and so on and so forth.
Highlights of Logix Cost Center
The following are important aspects of Cost Center
- Reviewing and approving procurement request prior to final purchase process.
- Reviews and approvals.
- Verification of individual request by concern authoritative hierarchy in the organization.
- Ensuring changes and revisions are clearly identified.
- Ensuring that relevant information of applicable requests is available at their “points of use”.
- Ensuring that procurement request remain legible and identifiable.
- Preventing “accidental / unwanted” procurement of unnecessary products or services.
Key Features & Benefits
When it comes to procurement of any product / service in the organization or related to specific department, most of the businesses requires lots of manual process such as procurement request generation by end users, verification of those request as per actual business requirement by the management team, multiple level of approvals by authoritative hierarchy within the organization combine paper and digital files. Logix Cost Center system allows end user to raise procurement requests using simple authenticated web based form.
Cost Center application automatically validates procurement requests based certain predefine criteria’s such as user, department, approved budget for specific department / project.
Cost Center application has predefined workflows for manual approval process, which automates procurement approval flow, such as send notification to respective manager or approval authority after automated validation of procurement request generated by end user.
Cost Center workflows has predefined set of notifications such as, send notification emails to concern user for approval task as per authoritative hierarchy, Status notification email to requester in case of approval as well as rejection of the generated request.
Record keeping of all requests generated by end users and segregate those as per user wise, department / project wise. Generate reports on demand with the help of this segregated information, such departments / projects wise expenditure, total rejections / total approvals, granular level reports for further analysis.
Cost Center has inbuilt Business Process Management and Workflow Automation that automatically routes the request to their destination and provides the information listed below:
- Automatic and Manual workflow
- Request Routing
- Business Process Modeling with Customized Windows, Reports
- Configure multi-level approvals
Security is one of the most critical aspects of a Cost Center system. This system will provide a high level of encryption and role based access control, as well as:
- Audit Trail
- User and Roles
- Advanced Access rights
- Supports SSL
Cost Center interface is simple and easy to navigate. Not everyone is technologically inclined, simpler the software, the better. Main dashboard includes:
- Alerts and Notifications
- Reporting Dashboard
- Request generation
Different businesses have different needs of a Cost Center as per their own specific requirements that need to be taken in consideration. Thus, this Cost Center System can be customized on need basis.