GT Management (Aust) specialises in electronic web based procurement systems and has developed a product called WebReq system to address the needs of critical businesses. The WebReq allows a large number of users to create requisitions while enforcing strict corporate rules for delegation of authority and approval of purchases.
The electronic web based procurement systems includes certain advantages such as improved spend compliance, maximise savings, eliminate maverick or off-contract spending, implements decentralized procurement practices and maintains centralized control over preferred suppliers and negotiated prices.
The web based procurement systems helps in replacing time-consuming procedures such as manually raised purchase orders, manual sign off, manual dispatch, manual re entry into finance system and manual approval of supplier invoices.
The web based procurement systems also replaces paper trails, reduces procurement time cycles, lowers operating costs and working capital requirements, reduces handling inaccuracies and delays and minimises input costs. The systems require costs to be authorised before any purchase is made and makes it easy for designated individuals to achieve what they need in order to perform their work effectively and efficiently.