LogicSource Debuts OneMarket 11.5 Release: Drives Value with Cloud-Based eProcurement Technology
NORWALK, Conn. – August 12, 2015. LogicSource®, a leading sourcing and procurement services firm, today announced a major update to its leading, cloud-based eProcurement technology solution with the release of OneMarket® 11.5. The release significantly boosts efficiency for large retailers and other multi-location companies with extensions and features that radically improve transaction management for store development and maintenance, and drive enterprise value with improved time-to-market and holistic supply chain analytics.
“We’ve had the benefit of analyzing store operations environments in some of the largest U.S. retailers,” said Craig Garno, LogicSource Chief Technology Officer. “We found that retailers, or other organizations that manage hundreds or thousands of locations, often lack modern and specific tools to efficiently source and procure ‘Goods Not for Resale’ (GNFR) items. OneMarket 11.5 allows buyers and their supply chains to manage the entire source-to-pay process, including supplier commitments, inventory, CAD drawings, procurement transactions and invoices, on-line and fully integrated. This is a very unique and compelling solution for any retailer or multi-unit operator that wants better transparency and controls around their GNFR spend.”
Building upon the benchmarking features in version 11.4, OneMarket 11.5 offers tools to improve the efficiency of the transactions that accompany new build, remodel, or repair and maintenance projects. These complex initiatives include not only a high volume of transactions, but also a wide variety of transaction types – from general contractor services to lighting and store operations – making transaction management a time-consuming, manual effort. OneMarket 11.5 increases accuracy and decreases time-to-market by streamlining transactions through tools such as bulk import and specification management. Additionally, OneMarket 11.5 users benefit from holistic visibility and data analytics offered by having all sourcing and procurement data housed in a single, easy-to-use repository.
“Innovative solutions for driving enterprise value through store development, reimage and remodel initiatives are a critical component of LogicSource’s growth strategy,” said Chief Executive Officer David Pennino. “OneMarket 11.5 gives our clients automation tools and spend visibility not available with any other application and underscores our commitment to providing our clients with technology and tools required to meet their ongoing business needs.”
Key Features and Improvements Streamline the Source-to-Pay Process for Leading Multi-Location Companies
This major OneMarket release contains a robust feature set that saves time, reduces costs, and drive operational value and efficiency, including:
Specification Management – Take-Off Sheet Import. For buyers managing purchases with multiple suppliers, this feature allows them to create jobs by importing formatted spreadsheets – commonly referred to as “take-off sheets” or “cut sheets” – enabling them to generate a high volume of orders very quickly.
Item Catalog – Search and Filter. This feature provides enhancements that allow users to find specific groups of items amongst large catalogs and refine search results via filters.
Commitment Orders – A commitment order is a commitment to purchase pre-negotiated product over a period of time. OneMarket 11.5 introduces “Commitment Orders” to quantify these arrangements and allow buyers and suppliers to accurately draw down from commitments via purchases.
OneMarket is a collaborative eProcurement application that improves the speed and effectiveness of the request-to-pay process. It supports buyers and suppliers in managing the complete procurement lifecycle with a collaborative, web-based application that brings transparency and efficiency to the procurement process for print, point-of-sale, promotional and operational products and related services.
LogicSource helps companies buy better. LogicSource is reinventing sourcing and procurement with a fully transparent, investment-based model that ensures clients don’t spend a dime until they see results. By assembling proven, pre-built assets, including its world-class supplier ecosystem, sourcing and procurement operations center (SPOC), and leading OneMarket® technology, LogicSource executes rapidly deployable, customized solutions that deliver immediate savings and sustainable value. For more information, visit http://lsbww2.wpengine.com.Tags: eProcurement, Cloud-Based, Store Value