Plan your purchases, reduce resourcing costs, and ensure timely payments to vendors with the FirstBit ERP system.
Whether you’re in the construction, trading, manufacturing, electronic, or distribution industry, the FirstBit ERP software for purchase management enables you to plan and execute your purchases efficiently. In addition, you can generate reports on fast-moving items so you can never have to send out-of-stock messages to your customers.
Designed for small businesses and enterprises alike, the FirstBit business purchasing software is created according to the IFRS standards and is updated regularly. In addition, it has a Dubai-based support team who ensures the tool complies with UAE regulations.
FirstBit ERP - The only business purchasing software you’ll ever need
- End-to-end procurement management
- Vendor contract and product category management
- Accounting for all additional expenses involved in purchasing
- Payment schedule and fulfilment control
- Discount and markup management
- Scheduled procurement based on demands
Business Purchasing Software Features
Records and Documents
- Material and Service requests: Create and track requests for Purchase or internal transfer inside FirstBit ERP.
- Purchase orders: Place and keep track of orders from one place. You can even follow up with vendors to know the real-time status of your orders.
- Purchase invoices: Ensure your accounting department doesn’t miss any invoices with FirstBit software for purchase management.
- Debit Notes: Last moment changes to the invoice? No worries. FirstBit allows you to create Debit Notes and adjust the invoice value.
- Vendor returns: Received faulty products? Returning them to the vendor? Enter the details in the software and adjust your accounts accordingly.
- Vendor contract management: Create and manage vendor contracts to maximize operational efficiency while reducing financial and legal risks.
- Vendor product category management: Manage your product categories by vendors to find the right and cost-effective suppliers instantly. You can even group multiple categories.
- Advance payment: Track all the Advance payments you’ve made to vendors and the credit time so you know how much to pay and when.
- Additional expenses: Note additional costs included in the product’s cost, such as transportation, insurance, and customs duty, to better determine your selling price.
- Purchase accounting: Understand your inventory purchase costs better by recording your prices by vendors, orders, and categories.
- Vendor price lists and delivery terms: Monitor and compare the prices and delivery terms of your vendors so you can pick the best ones.
- Payment terms: Define and ensure payment terms (how and when you pay) are being followed for vendor payments throughout your organization.
- A/P management: Keep an eagle eye on the accounts payable to each vendor to ensure you have a positive cash flow.
- Serial numbers: Track your orders by serial number and mark their status in real-time (received, in-transit, etc.).
- Delivery times: Schedule the delivery of procured goods so your best-selling items don’t go out of stock.
- Vendor price management: Keep a record of mutually agreed prices and discounts of every vendor in the FirstBit ERP program.
- Discount and markup management: Manage the discounts and markup of each product, so you know exactly how much revenue you’ll generate on selling them.
- Vendor tendering: Send RFQs to multiple Suppliers, track received Quotations, and compare prices and terms online to select the best Supplier.
- Purchase order reporting: Get in-depth insights into your company’s purchase order activities to monitor transactional details and overall buying trends.
- Statement of purchased items: Keep an account of transactions completed in a specific period.
- Mutual settlement report: Track the detailed breakdown of payments settled to vendors by currencies, documents, and contracts.
- Report on fast-moving items: Get detailed information on products that sell quickly to better plan your inventory and place orders at the right time.
- Stock Demand Planning: Analyze your SKUs to identify items that need to be ordered and by when (considering the average delivery time).