PRMAI Features

Track usage per company, custom time period, or contract

Track payments received for products that haven't be delivered yet

Consolidates procurement data from multiple systems such as ERP systems and supply chain suites.

Define rules and workflows that managers can use to approve different kinds of spending.

Align spending across various departments such as procurement and accounting.

Receive data and information in real time

Provide standard spend KPIs that can be customized by users.

Use historical spend data to create benchmarks per company or department.

Provide forecasts on future trends that may impact spending performance.

Identify savings opportunities per activity, department, or at the company level.

Manage workflows and business processes for procurement.

Provide standard procurement contracts that can be customized.

Maintain a repository of content such as catalogs and other documents.

Define requisition rules for various types of procurement.

Identify and assess suppliers for different products and services.

Create and manage purchase orders for products and services.

Include features for procurement invoicing and e-invoicing.

Organize and manage all processes/procedures involved in purchasing goods and/or services

Manage and track customer orders for goods, investments, or any other purchases

Improve visibility into procurement activities across the company.

Monitor the performance of procurement operations.

Analyze procurement spending and identify future trends.

Generate reports to assess the financial performance of an organization

Provide benchmarking options for comparison with peers

Include standard spending KPIs that can be customized

Deliver reports for compliance purposes

Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud

Consolidate information from multiple sources or multiple entities

Classify information by category, supplier, or supplier

Integrate with external sources for market intelligence

Integrates with ERP systems general ledgers for transfering of AP transaction data

Ability to cleanse and consolidate AP data

Approve, reject, or query historical payment transactions to identify anomalies

Recover overpayments, duplicate payments, or unused credits from suppliers

Constantly evaluate AP transactions to optimize workflows

Improves management oversight by reconciling external data against internal transaction data

Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk

Active monitoring of systems, applications, or networks

Reports that allow the user to sort and filter by vendor, team, GL, department, etc.

Import and export data to and from software applications

Report on and track spending against budgets

Receive system updates as soon as any changes are made

Active reporting of data and metrics

Analyze and gain insights into data in real-time

Pay vendors through a dashboard or portal and maintain vendor payment information

Manage and execute recurring payments, such as subscriptions, services, utilities, etc.

Manage compensation for out-of-pocket expenses incurred by an employee, client or another party

Real-time notifications for fraudulant and/or duplicate spending

Individual, unique cards for each vendor to help manage duplicate and overpayments

Control spend limits, expiration dates, and lock and unlock stolen or lost cards

Manage and monitor spending to align with the financial constraints or goals

Manage the process of evaluating documents or requests submitted for approval

Set allowances and ensure employees don't spend more than the allotted amounts

Bank cards with approved funds pre-loaded that employees can use for corporate purchases

Provides a centralized library containing product data.

Enables users to assign custom categories to products.

Create and manage digital catalog of products/services with their details, specifications, and price

Receive data and information in real time

Create, design and manage workflows for repetitive tasks

Manage the planning and execution of supply chain activities

Create, save, and re-purpose templates for emails, forms, etc.

Track, store, and access client contracts or licenses

Share bid details, archive bids, and create bid requests to assist in bid solicitation and quote comparison

Review, approve and cancel requests for goods/services to be purchased

Plan and coordinate all the resources, costs and time needed to execute assignments

Create, send, and track purchase orders and their statuses

Procure goods, materials, or services from international suppliers

Track the amount of money spent on a certain product or with a certain supplier

Allows businesses to create and manage auctions.

Captures invoice data and maintains comprehensive records for auditing and reporting purposes

Forecast, allocate funds, organize financial resources and report & analyze project's income and expenditure

Ability to track and store all vendor-related information, such as contacts, services offered, terms, etc.

Manage all supplier data and operations

Plan, schedule, and execute organization's accounts and assets to ensure compliance with policies and laws

Store, manage, and track all electronic documents in a centralized location

Organize and manage all processes/procedures involved in purchasing goods and/or services

The process of submitting requests for quotes, proposals, information, etc.

Identify, assess & manage risks that could arise from working with third-party suppliers to protect against disruptions in supply chain

Organize and manage the accomplishments and development of employees or performance of applications or systems

Track and manage adherence to policies for any service, product, process, or supplier

Assists with maintaining compliance with controlled processes, automated tracking, and audit trails.

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

Provides organizations with the tools and data they need to negotiate contracts more effectively, such as data analysis, collaboration, and contract management.

Increases spend visibility into pricing and unintended or excessive use of discounts or promotions by customers.

Identifies noncompliant spending, fraud, and other activity outside of company policy.

Analyzes spending patterns and identifies areas to reduce costs.

Alter the layout and content of reports

Dashboard to view the status of ongoing processes, identify current incidents and track past activities

Manages contracts in a single, online central repository.

Manages the entire contract lifecycle process by providing visibility into projects and allocating resources across sourcing initiatives.

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

Anticipates needs and offers suggestions without prompting

Ability to break down and plan multi-step processes

Ability to autonomously complete end-to-end procurement tasks such as PO creation, invoice coding etc.

Ability to proactively flag out-of-policy spend, duplicate invoices, and overdue approvals before issues escalate

Makes informed choices based on available data and objectives

Capability to perform complex tasks without constant human input

Makes informed choices based on available data and objectives

Ability to break down and plan multi-step processes

Works across multiple software systems or databases

Improves performance based on feedback and experience

Set up connections to third-party platforms to improve business processes

Integrate with existing ERP systems

Use AI to generate content in the form of text, images, videos, etc.

Identify which applications need to exchange data and enable these data connections

Ability to track and store all vendor-related information, such as contacts, services offered, terms, etc.

Organize, track, and automate the entire contract process

Create budgets based on historical data and future projections

Track and manage adherence to policies for any service, product, process, or supplier

A virtual assistant that uses AI to pursue goals and complete tasks on behalf of users

Track and manage inventory levels to maintain proper supply

Manage the process of evaluating documents or requests submitted for approval

Provides a channel for team members to share media files, communicate, and work together

Collection, analysis, and representation of numerical data and generation of reports to understand various patterns

Use AI to generate content in the form of text, images, videos, etc.

Application programming interface that allows for integration with other systems/databases

Define levels of authorization for access to specific files or systems

Track orders throughout the fulfillment process

Monitor product stock levels

Create budgets based on historical data and future projections

A virtual assistant that uses AI to pursue goals and complete tasks on behalf of users

Analyze and gain insights into data in real-time

Review and uncover trends in spending activity

Manage and handle various international currencies

A record of all activities within the system, including user access, changes made, etc.

Active reporting of data and metrics

Track and document all activities across devices, networks, and other systems

Search and filter data across systems to locate required information by entering keywords or certain criteria

Set allowances and ensure employees don't spend more than the allotted amounts

Import and export data to and from software applications

Alerts or notifications of various types such as pop-up messages, sounds, banners, or badges

Creation, processing, verification, and execution of invoices till the payment is made

Manage all receiving processes within a warehouse

Store and organize documents in a centralized system

Generate quotes or estimates for customers

Integrated online platform shared by businesses and their vendors to exchange information/files and collaborate on projects.

The process of assessing potential suppliers based on required credentials, quality standards, etc.

The process of creating a questionnaire and submitting it to prospective vendors.

Timed notification for any upcoming task, deadline, appointment, or activity

Online portal through which end users can access the system, manage tasks, or obtain information

Workflows that help acquire inventory, issue purchase orders and receive and store items in required quantity

Initiate collection and analysis of known risks

Timed notification for any upcoming task, deadline, appointment, or activity

Track and document all activities across devices, networks, and other systems

Creation, processing, verification, and execution of invoices till the payment is made

Integrate with a third-party accounting system

Organize and group data or items based on various criteria

Collection, analysis, and representation of numerical data and generation of reports to understand various patterns

Configure existing workflows to meet your organization's needs

Review and uncover trends in spending activity

Monitor and record expenses such as purchases or charges incurred

Set up connections to third-party platforms to improve business processes

Built-in accounting to manage ledger, accounts payable/receivable, financial reports, etc.

Plan, schedule, and execute organization's accounts and assets to ensure compliance with policies and laws

Route documents and other data through one or more stakeholders for review and approval

A virtual assistant that uses AI to pursue goals and complete tasks on behalf of users

Manage all supplier data and operations

Captures invoice data and maintains comprehensive records for auditing and reporting purposes

Create, manage, and send invoices or bills to customers

Record of all transactions such as purchases, deposits, withdrawals and transfers within a specific period

Create, send, and track purchase orders and their statuses

A record of all activities within the system, including user access, changes made, etc.

Use AI to generate content in the form of text, images, videos, etc.

Attaching relevant receipts or supporting documents to submit expenses for reimbursement

Create, design and manage workflows for repetitive tasks

Log and record hours worked and costs spent to assist in billing and invoicing

Manage and handle various international currencies

Ability to track and store all vendor-related information, such as contacts, services offered, terms, etc.

Organize and manage all processes/procedures involved in purchasing goods and/or services

Financial system that helps create and manage physical/digital credit cards and track transaction activities

Track and manage adherence to policies for any service, product, process, or supplier

Review, approve and cancel requests for goods/services to be purchased

Alter the layout and content of reports

Generate one-off reports that meet information requirements

Plan, manage, and track the financial activities of an individual or organization

Application programming interface that allows for integration with other systems/databases

Automates and streamlines business processes by creating a sequence of predefined rules and actions that govern the flow of work

Upload, track, and submit receipts in a central database

Dashboard to view the status of ongoing processes, identify current incidents and track past activities

Workflows that help acquire inventory, issue purchase orders and receive and store items in required quantity

Use AI to generate content in the form of text, images, videos, etc.

Create, manage, and send invoices or bills to customers

Pre-designed layouts that can be customized to match preferences and requirements

Manage user accounts, profiles, roles, permissions, and other details across applications, devices or networks

Creation, processing, verification, and execution of invoices till the payment is made

Process of familiarizing new clients, stakeholders or employees with the company, a new location, or a service

Search and filter data across systems to locate required information by entering keywords or certain criteria

Negotiate best prices and choose the right vendor for various purchases

Create and maintain quality vendor data through data validation, maintenance, and audit trails to ensure proper compliance and sourcing

Organize and manage all processes/procedures involved in purchasing goods and/or services

Collection, analysis, and representation of numerical data and generation of reports to understand various patterns

Store, manage, and track all electronic documents in a centralized location

Plan and coordinate all the resources, costs and time needed to execute assignments

Graphical representation of data

Define levels of authorization for access to specific files or systems

Record of all transactions such as purchases, deposits, withdrawals and transfers within a specific period

Initiate collection and analysis of known risks

Dashboard to view the status of ongoing processes, identify current incidents and track past activities

Receive data and information in real time

Alerts or notifications of various types such as pop-up messages, sounds, banners, or badges

Closing out contracts by reviewing contract/project completion, finalizing payments, and ensuring terms and compliance as been achieved

A virtual assistant that uses AI to pursue goals and complete tasks on behalf of users

Online portal through which end users can access the system, manage tasks, or obtain information

Plan, schedule, and execute organization's accounts and assets to ensure compliance with policies and laws

Provides a channel for team members to share media files, communicate, and work together

Application programming interface that allows for integration with other systems/databases

Manage the process of evaluating documents or requests submitted for approval

Process payment to vendor(s) for goods/services received

Set up connections to third-party platforms to improve business processes

A set of indicators that tracks the performance of networks, applications, systems, teams, etc.

Create, send, and track purchase orders and their statuses

Track, store, and access client contracts or licenses

Import and export data to and from software applications

Allow users to access multiple services after entering their login credentials once

Create, design and manage workflows for repetitive tasks

Track and manage adherence to policies for any service, product, process, or supplier

Create, manage and track all task activities and progression