Omnea Features

Use criteria to add or remove suppliers to/from approved lists.

Manage communications with suppliers on multiple channels such as phone or email.

Capture and maintain documents related to suppliers and their products or services.

Allows users to evaluate supplier performance using standard and custom KPIs.

Identify potential issues and how they may impact relationships with suppliers.

Create and manage supplier profiles that include contact and pricing information.

Track history of all interactions and business transactions with suppliers.

Provide standard templates for different types of RFPs

Support other types of requests such as RFB/RFI/RFQ

Maintain a library of questions that can be reused

Track submissions from multiple vendors and suppliers

Compare submissions and score suppliers

Choose the best submission for an RFP

Allow multiple users to collaborate on submissions

Assign users, roles, and manage access in order to set tasks and leave comments

Automate repetitive and manual tasks, such as auto-filling answers and auto-responses

Export files or spreadsheets with the ability to format and accomidate images

Upload files or spreadsheets from multiple sources

Users can assign scores to suppliers based on the estimated risk of doing business with them.

Utilize artificial intelligence to analyze third party risks.

Review vendor contracts and profiles to ensure compliance with regulation and internal policies.

Provide workflows to mitigate risk and escalate issues proactively.

Track vendor performance using supplier data such as a history of transactions and contracts.

Send alerts and notifications when corrective actions are needed to address supplier risk.

Perform ongoing due diligence activities to auto calculate overall risk for each vendor.

Include reporting templates for activities such as audits and vendor evaluation.

Consolidate data from multiple systems that manage supplier information.

Provide a 360 view of suppliers which can be shared with internal or external users.

Provides a centralized library containing product data.

Enables users to assign custom categories to products.

Creates and manages product catalogs.

Identifies revenue opportunities by providing better visibility into spend data, improving supplier relationships, streamlining procurement processes, and identifying cost savings opportunities

Manages contracts in a single, online central repository.

Notifies users of pending approvals with alerts and notifications

Allows for predefined approval workflows based on roles, departments, or spending limits

Automates the creation, submission, and approval of purchase requisitions

Monitors supplier compliance to guidelines and standards while also managing risks

Provides tools for suppllier onboarding and assessing their performance

Maintains a repository for storing and organizing supplier details

Uses tools for examining expenditures and generation reports to identify trends

Provides real-time insight into procurement costs within categories, departments or projects

Uses risk assessment tools for identifying potential supplier or contract risks

Automates the enforcement of procurement policies, regulatory requirements, and compliance checks

Creates audit trails and reporting for transparency and accountability

Provides onditional routing for purchase approvals, contract reviews, and supplier selection

Allows for flexible workflow configurations to suit specific business needs

Adjusts approval processes based on project, department, or spending thresholds

Improves performance based on feedback and experience

Makes informed choices based on available data and objectives

Capability to perform complex tasks without constant human input