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FirstBIT ERP
Purchasing

FirstBIT ERP

Purchase Management Software

Comprehensively plan and organize scheduled and one-time purchases. Control delivery times, expenses and timely payments to vendors

All vendor data in one database

Vendor payments itemized by orders and invoices

Vendor order tracking and follow-up

Accounting for all additional expenses involved in purchasing

Payment schedule and fulfillment control

Scheduled purchases based on warehousing demands

Purchase Order Management Software Features

Record

  • Purchase orders
  • Purchase invoices
  • Debit memos
  • Returns to vendor
  • Vendor contract management
  • Vendor product category management
  • Down payments
  • Additional expenses (included in cost price)
  • Purchase accounting by vendors/orders/categories
Management
  • Payment terms
  • A/P management
  • Serial numbers
  • Delivery times
  • Purchasing control software
Analysis
  • Purchase order reporting
  • Statement of purchased items
  • Mutual settlement report (by currencies/documents/contracts)
  • Report on fast-moving items
Planning
  • Purchasing/stock demand planning
Other
  • Vendor price management
  • Vendor price lists
  • Discount and markup management

Business Purchasing Management Software


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.

Order Management

  • 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.

Order Analysis

  • 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.

Order Planning

  • Stock Demand Planning: Analyze your SKUs to identify items that need to be ordered and by when (considering the average delivery time).

Deployment Options

Cloud
On-premises

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FAQ

Can we book additional expenses such as insurance, freight, customs duty charges on Purchase?
Yes, in FirstBit ERP there is an Additional Expense transaction, where you can book any extra charges against a single or multiple Purchase transactions to calculate Landed cost.
Can we prepare and Send RFQ/RFP in bulk?
Purchase team can use FirstBit ERP to pick any number of Suppliers for RFQ, run approvals paperless with the finance team and send RFQs directly from the software through e-mail.
Does FirstBit ERP have Vendor Quotation comparison?
You can import Quotation data from excel to First Bit ERP software and attach the original Supplier Quotation file for reference. You can compare multiple offers on a single screen based on the price and user-defined custom parameters,
Can we upload vendor pricelists and track supplier price history in FirstBit ERP?
You can upload data in bulk from MS Excel, .csv or .mxl files. In FirstBit ERP database you can store information about supplier prices from all your previous purchases.

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