Supplier Financial Management
Enlighta Spice Enables Enterprises To Effortlessly track & Manage Supplier Financial data to maximize contract value & identify savings opportunities. With Enlighta Spice you can track & manage contract value & spend, contract pricing, consumption , validate Invoices, track Savings & Budget, And More.
Complete Transparency into savings and benefits
Insight into forecasted and actual consumption
Digital workflows for invoice validation and approval
Contract pricing
Contract Value & Spend
Maximize contract value by getting complete visibility of all spend. Intuitive dashboards makes it easier to visualize actual spend by supplier, contract, location, resource-role and type of spend and identify savings opportunities.
Contract Pricing
Automate supplier pricing adjustments on annual basis with the ability to automate adjustments to active pricing records periodically based on rules such as reducing the rate cards to account for continuous innovation. Furthermore, capture Cost of Living Adjustments (COLA) or percent reductions at the contract level, track Role Master & Rate Master and compare the rate cards across suppliers even if the contractual roles are different.
Consumption Management
Automate the request & notification for users to update consumption data. Effortlessly track & improve visibility of total consumption & issues. Gain actionable insights with analytics to understand processes & make continuous improvements. Leverage pre-defined & ad-hoc reporting for effective oversight.
Invoice Validation
Transforms supplier invoice management through effective invoice comparison and line-item signoff workflow. Generate proforma invoices and leverage rule-based line-item validation of supplier rate cards, utilization, and other key data elements. Automates a multi-level review and approval process for invoice and line-item approval. Compare and validate third-party supplier invoices against contractual terms, deliverables, performance, and rate cards.
Savings / Benefits Tracker
Track Projected and Actual Savings (Negotiated Benefits) including Hard/Soft Savings by Supplier, Contract and Category of savings. Visualize and analyze Savings by type, status, supplier, contract, business unit, and more. Compare pricing for the same Role across suppliers and visualize Actual Budget Utilization vs Forecasted Budget Utilization.
Enlighta Spice Can Also Be used for
Third-Party Risk Management (TPRM)
- Design & Distribute Assessments
- Collect & Review Evidences
- Compliance Task Automation
- Risk Tracking & Mitigation
- Audits & Audit Findings
- Issue / Incident Management
Supplier Portal & Onboarding
Automation
- Supplier Master
- Vendor Profiles
- Hierarchy
- Onboarding Automation
- Compliance Screening (Sanctions & PEP)
- Supplier Contacts
- Supplier Feedback
- Communication
Supplier Performance Management
- Service Levels, Measures & KPIs
- Goals & Objectives
- Monthly Requests
- Self Reporting & Exceptions
- SLA Scorecards
- Issue / Incident Management
Contract Lifecycle Management (CLM)
- Contract Repository
- Automated Renewal & Expiry Reminders
- Change Management
- Clause Library
- Contract Extraction & Doc Generation
- Collaborative Document Authoring/Editing
Governance & Compliance Management (Obligations Mgmt.)
- Deliverables & Obligations Management
- Automated Reminders
- Deliverable Approval
- QBRs, Meetings & Schedule Calender
- Action Items
- Issue / Incident Management
Enlighta Solutions are used & trusted by Leading Enterprises
Used across 10s of thousands of suppliers & third parties and for well over $50B of spend by several F500 enterprises.
Learn how Enlighta Spice can help Streamline your ongoing compliance efforts
