The broad-based black economic empowerment (BBBEE) vendor relationship management software, called AccTech VRM, allows organisations to simplify administration, saving users time and money.
"The collection and management of vendor data is time-consuming and costly," said Tertius Zitzke, Managing Director of AccTech Systems. "But effective management of this process can be rewarding if organisations record the information correctly."
According to Zitzke, BEE rebates are often significant, justifying the time and effort allocated to managing the process. AccTech Systems wanted to make the procedure simpler and faster by reducing the vendor master data collection and capturing procedure to the click of a button. "Organisations will now be able to compile complex vendor reports that will assist in BEE rebate calculations," he commented.
There are four parts to the AccTech VRM system: vendor master data, vendor transaction analysis and profile reporting; procurement interface with preferred vendors and preference values; and business intelligence on the company's target performance.
To make data collection easy, AccTech VRM provides a customisable electronic questionnaire that can be emailed to all vendors and then imported directly into the VRM system to obtain a complete vendor overview. The system also has alerts, such as tax clearances, and a vendor self-service module, among others.
"Some of the standard VRM reports include purchase history and transaction detail per vendor, vendor listing per industry according to vendor BEE rating, and activity reports measuring internal procurement and staff performance. Users can customise company-specific reports in a matter of minutes," Zitzke noted.
"AccTech VRM results in a turnkey solution with enterprise-wide reporting, budgeting and forecasting. It provides integration with current financial systems, providing fast and accurate managerial reporting and analysis of BEE vendors."
