The one-for-all centralised single creditor
Spot Buy Center as your best vendor, replacing thousands!
Think about how difficult it is to engage, track and pay your service vendors. In many organisations, it is a multi-month mission involving many departments. This often results in a chaotic administrative experience across all companies trying to pay each other. That’s different with Spot Buy Center.
How it works:
- Buyer creates requisition
- Each order is authorised to Spot Buy Center for the benefit of a specific seller
- Seller engages
- Seller accepts purchasing terms and then invoices Spot Buy Center for goods & services delivered
- Spot Buy Center invoices buyer
- Spot Buy Center submits an invoice to buyer after verifications and compliance scans
- Payment is settled
- Buyer pays Spot Buy Center and Spot Buy Center pays the seller
No PO, no order.
No maverick buying, only order after official approval.
Perfect cost allocations.
Every invoice comes from Spot Buy Center and features a PO to automate billing.
No PO, no pay.
Guarantee that every payment is automatically issued a PO.
Use the same solution globally across all spend categories.
Gain a clear view of your spending with amazing reports.
Spot Buy Center takes responsibility for compliance and recording VAT for all purchasing.
Set custom and standard purchasing terms by country, category or vendor.
Easy supplier enablement.
Eliminate thousands of hours of set-up and support for your small vendors.
Control the categories available to your employees and set the spending limits. POs can be initiated from any purchasing system, so there’s no need to log in to Spot Buy Center. Customise everything by country, category or vendor.
Spot Buy Center can invoice each of your entities in different ways, through EDI, cXML, emailed attachment or even snail mail. We operate subsidiaries and invoice locally in each market where the payments are being made.
Line managers can create teams to gain transparency and accountability over the purchasing activity of employees.
Spot Buy Center improves the compliance position of even the most conservative companies. All vendors are scanned against all major sanction lists and all payments are under PO.
Spot Buy Center can “punch out” from any purchasing tool, including Ariba, Basware, Coupa, GEP, Jaggaer, JD Edwards, Oracle, PeopleSoft, SAP, Tradeshift, Workday, Zycus and more.
Designing diversity simply: With the single creditor model
Often, a large number of suppliers are used to ensure that a company’s requirements are met. However, such diversity usually goes hand in hand with an ever-increasing number of creditors. This intensifies administrative efforts and causes unnecessary processing costs. Spot Buy Center will change that: With the single creditor model, you simply manage your existing suppliers via one technical infrastructure and tap into new suppliers in no time at all.
With the single creditor model, you maintain only one creditor in your system, regardless of the number of suppliers you work with through Spot Buy Center. Spot Buy Center offers companies a more efficient billing process that relieves the accounting department, saving process costs and simplifying the procurement of your indirect requirements.
If a buyer places an order on Spot Buy Center in his system, the order is immediately forwarded to the supplier. The order is then fulfilled directly between the contracting parties.
The supplier provides Spot Buy Center Financial Services with the transaction data, which in turn creates the invoice in the name and on behalf of the supplier and sends it to the buying organisation. These documents are also made available to the supplier for revision-proof archiving.
To settle the invoice, the buyer sends the payment to a service provider appointed by Spot Buy Center. The corresponding payment amount is then distributed to the supplier by the payment service provider.
Optimise process costs. Maintain supplier diversity.
The number of suppliers and creditors has always played a decisive role in procurement. In order to cover indirect demand, companies have relied on a large number of suppliers resulting in high administrative costs as well as exorbitant fixed costs. As a result, supplier reduction is often a key objective. While this reduces process costs and operating expenses, it also reduces the breadth of supplier and product selection.
With Spot Buy Center and the single creditor model, diversity in procurement becomes possible again, because the administrative effort is minimised due to our advanced technical infrastructure. This unique solution enables procurement with multiple suppliers but only one creditor. Direct 1:1 relationships are maintained between the supplier and customer with individual conditions and assortments.
One creditor, many advantages. Benefit from the network.
A strong network and one contact. Tap into a strong supplier network and maintain a single creditor account. Spot Buy Center makes diversity in procurement manageable.
Your direct connection to the supplier
Upon request, you can link up with each individual supplier from the network. Negotiate prices or conditions directly with the provider and receive first-hand product information.
A single payment term for all orders
No more different payment terms for different suppliers: In the single creditor model, all orders are subject to a standard 30-day payment period.
Lean standard processes for all suppliers
The invoice process and the invoice template are identical for each supplier. These standards allow your accounting department to benefit from simpler processes.
One contact for returns enquiries
Too much, too late or incorrect delivery? You can submit your return requests directly through the perspective provider. You will receive help quickly, no matter which supplier you have ordered from.
Compliant with tax and commercial law
Always on the safe side: The payment and invoicing processes have been declared compliant with tax and commercial law.