Implement Paperless, Decentralized Procurement
Datatel Colleague Finance provides an integrated and secure environment that facilitates the controlled decentralization of procurement processing. This frees your professional buyers from managing paper as it moves around your campus. Colleague Finance also provides familiar, easy to use, Web-based tools that allow purchasing professionals to focus more time on value-added tasks.
- Enable employees to complete procurement transactions online
User defined business rules grant, and limit, the ability of staff and faculty to use the online requisitions and purchase order solution. This includes inquiry and transaction status look-up capabilities that enable staff and faculty to answer many of the questions that frequently come to the Purchasing Office. - Perform a three-way match of documents behind the scene
With Colleague Finance, your institution no longer has to manually perform the purchasing order, receiving document, and bill three-way match. Colleague Finance will perform this important check for documents behind the scene – payments will be made only after the match has taken place. - Allow vendors direct access to invoice status
With Colleague Finance, any vendor can securely view a historical list of their invoices submitted, and check on the status of individual invoices, reducing phone calls to your Purchasing Office. - Manage the entire bidding process online
Datatel offers a bidding solution that enables your institution to manage the entire bid process online — from aggregation of bid requirements, to electronic notification and receiving of bids, through evaluation and final bid award. You can input requirements electronically, and enable bidding entities to combine these requirements to solicit bid responses from the vendor community. - Automate the quote process for buyers and vendors
Also offered within Colleague Finance is a quoting solution that facilitates the buying process. This solution captures all required information to publish a request for quote (RFQ) in an easy to use electronic format. Completed quotes are published to a pre-selected vendor community. Vendors can then respond to the RFQ, and, if applicable, be awarded the contract — all online.
To complete your solution, Datatel’s Professional Services Team will also assess your current procurement processes, identifying how the internal controls of Colleague Finance can allow your institution to decentralize procurement in the most efficient way. They will also help you redesign your institution’s approval process to take advantage of the new decentralized procurement system.