In today’s world, organizations seek to lower purchasing costs by automating their procurement process. However, most purchasing software forces users to adapt to their software instead of the other way round. ELCOM’s multi-tenancy solution allows customers to incorporate multiple purchasing processes, in any number of locations. This allows you, the customer, to make eProcurement work for you!
Elcom’s PECOS solution is the worlds most advanced, multi-tenancy eProcurement solution available for:
- Educational Institutions
- Healthcare Organizations
- Private Enterprises
- Buying Groups
PECOS currently enables over 120,000 buyers within 200+ organizations to manage more than $15 billion in total procurement spend each year.
These buyers transact with over 120,000 suppliers connected into their network.
Both buyers and sellers benefit from their use of PECOS through lower transaction costs, fewer disputes, faster payment cycles, improved procurement controls and better visibility of spend.
What is PECOS?
PECOS is a cloud based e-procurement solution that was developed with the Massachusetts Institute of Technology (MIT) over a decade ago and has since been retooled, redesigned and further developed to become one of the world’s leading e-procurement solutions.
Cloud based delivery allows for rapid deployment, and supports user access to the solution from any connected device – including desktop and laptop PC’s, tablets and smartphones. It also provides the flexibility to increase users or capacity as your business needs change.
PECOS’s unique multi-tenancy architecture provides organizations with the centralized controls and compliance they need, yet the flexibility to effectively distribute the solution out to a wide range of end-users with differing business processes and requirements.
Roll over the sections of the diagrams to learn more about how PECOS can support key roles and access requirements within your organization
Access PECOS anywhere and anytime from your choice of popular devices - including laptops, tablets and smartphones
Centralized control of budgets, approvals and compliance. Reporting and analysis of spend across all divisions and agencies.
Ability to tailor languages, document templates, currencies and business processes to suit local requirements
Configurable workflows and business processes give agencies and divisions the freedom to run their business in the way they wish, and can support the business aspects that make them unique
PECOS provides a comprehensive set of configurable integration capabilities that allow for exchange of administrative, transactional and reporting data with external systems. PECOS has been successfully integrated to over 60 external applications including most popular financial and ERP software packages
PECOS is rich in features that assist finance professionals in controlling, recording and analyzing spend against general ledger account codes, cost codes, project codes and budgets. 3 way matching with configurable tolerances ensure only goods that have been ordered, received and properly invoiced are paid for. Compliance with tax, audit requirements, and payment policies (including procurement cards and electronic invoicing) are also managed by the solution
Suppliers can link to buyers through participation in quotes, tenders, auctions, contracts, and provision of catalogues of goods and services available for sale. End users and buyers can also be connected directly to supplier websites via punch-out, bringing the completed shopping basket from the supplier website back into PECOS to ensure it is properly tracked and managed
Professional procurement personnel and managers can easily approve or reject requisitions created by users, assign approved requisition items to contracts or projects, and track spend against assigned budgets. Where established contracts or catalogues are not already in place, buyers have the option to request quotes, run tenders, run electronic auctions, or order non-catalogue goods or services
End users are presented with an intuitive web-based interface that makes requisitioning goods and services as easy as 3 clicks of their mouse
An advanced software solution which meets the e-procurement needs of government and enterprise through sourcing, P2P, eInvoicing, integration, and data analysis capabilities
Advanced Cloud Based eProcurement
Allows for rapid deployment, and the ability to easily add new users or functions as business conditions grow or change
Reduces the cost and IT complexity typically associated with eCommerce deployments
Makes it simple to publish and manage supplier content and connect to buyers
Ease of Use
PECOS is easy to use, allowing entry of requisitions and management approvals from anywhere and at any time through a PC or mobile device over the web
A wealth of information is captured and reported to support purchasing professionals for more effective management of strategic suppliers
Compliance with Flexibility
Centralised controls and analysis of spend, with flexibility to allow division and agencies to autonomously operate their own business
Management of budgets, approvals and regulatory compliance
Supports seamless interfaces into finance and ERP systems o ensure accurate financial recording of spend and commitments