We’re thrilled to announce the release of our Request for Quote (RFQ) and Accounts Payable (AP) Collaboration products. Now, our RFQ and AP products can be combined with our PO and Quality products for the industry’s only end-to-end, direct spend supplier collaboration solution.
The addition of these new products will let our customers collaborate with suppliers from sourcing parts to paying for them. SourceDay RFQ streamlines how companies manage RFQs and select the best suppliers. Our AP product automatically matches final purchase order, invoice, and receipt data. Once matched, SourceDay automatically vouchers matched invoices in the ERP, earning early payment discounts and preventing supplier overpayments.
SourceDay’s mission is to prevent the reasons companies miss with suppliers before those misses create problems throughout the business. Our new RFQ and AP products improve our ability to deliver on this promise. Market uncertainty, tariff wars, and labor shortages make it more important than ever for companies to improve visibility and trust in the first mile of their supply chain.”Tom Kieley, SourceDay CEO
Request for Quote Collaboration
SourceDay’s new RFQ product helps us choose the most competitive suppliers that can meet our product requirements and lead-times, at the most competitive price. On top of delivering a fast ROI, SourceDay took most of the load on our implementation.”Josh Owings, ERP Applications Mgr, JR Automation
Now, buyers and suppliers can easily create, deliver, and streamline collaboration of all RFQs in one place. Create and issue RFQs to new and existing suppliers, receive, interact with, and compare quote submissions without ever leaving the SourceDay platform. SourceDay customers can make quicker, more informed purchasing decisions and even notify winning bidders directly in the platform.
Accounts Payable Collaboration
Like many manufacturers, reconciling mismatched invoices has always been a challenge for us. SourceDay’s new AP Collaboration product has saved us money and made our lives easier. We process 95% of our invoices automatically now, which ensures we earn early payment discounts on most of our spend. It’s a smart choice for any organization looking to make a short-term investment that pays you back in just a few short months.”Louise Mayer, ERP Implementation Mgr, Napoleon
Our AP solution offers a 3-way matching process that quickly identifies and helps resolve supplier invoice discrepancies. You can filter by status and track the entire lifecycle, all in a single dashboard. Buyers can arrange their dashboard to view invoices at any stage of the process (mismatched, matched, vouchered or pending), clearly identify exceptions, and quickly resolve any issues.
Key Benefits of AP & RFQ
There are plenty of benefits for both buyers and suppliers using SourceDay’s AP and RFQ products. Here are just a few of the big takeaways.
- Faster, clearer communication with suppliers and internal stakeholders
- Less time wasted on manual tasks that can also lead to mistakes
- Faster, more accurate processing of RFQs and Invoices to ensure companies always choose the best suppliers and never overpay.
See these new products in action and learn how you can start using them today.