ISPnext

ISPnext is a Business Spend Management platform designed to streamline the Source-to-Pay process. According to the vendor, ISPnext is suitable for companies of all sizes, including those in industries such as wholesale, retail, food and drinks, manufacturing, construction, transport and logistics, healthcare, and government.

Key Features

Vendor Management: According to the vendor, ISPnext allows users to maximize supplier relations through complete control over vendor management. Users can centralize vendor information, including contact details, contracts, and risk profiles, and periodically update vendor information to improve relationships with suppliers.

Sourcing: According to the vendor, ISPnext enables users to manage the procurement process from procurement need to contract signing. Users can easily create and distribute RFQs (Request for Quotations) to suppliers and compare and evaluate RFQ results to select the best suppliers.

Contract Management: According to the vendor, ISPnext provides insight into contracts and helps users effectively manage contract lifecycles. Users can store and manage all contract-related information in one central repository and monitor contract progress to ensure compliance with contract terms.

Procurement: According to the vendor, ISPnext allows users to efficiently order goods and services through contractual arrangements. Users can control expenses and meet compliance goals through associated workflows, streamlining procurement processes and reducing unauthorized commitments.

AP Automation: According to the vendor, ISPnext enables users to achieve significant cost savings through automated invoice processing. The system automatically matches invoices with purchase orders or contracts and routes invoices for approval through automated workflows.

Spend Analytics: According to the vendor, ISPnext provides valuable insights into various aspects of an organization. Users can use real-time data to identify bottlenecks and take proactive actions, as well as monitor spending patterns and make data-driven decisions.

ERP Integrations: According to the vendor, ISPnext seamlessly integrates with various ERP systems such as Microsoft Dynamics 365, Business Central, SAP, JD Edwards, Infor, and Exact Online. Users can access and utilize real-time data from ERP systems within the Source-to-Pay process, ensuring fast and accurate handling of procurement and invoice processes.