Leading South African petrochemical industry player, Engen Petroleum Ltd and ProcureTrade, the JV between the AST Group and McCarthy-On-Line, have formed a partnership to develop Engen`s procurement card purchasing (CPC) process into a full e-procurement solution.
The new process procurement process will cover the full transaction from requisition to a single payment. This project involves working with existing suppliers and Engen`s banking partner Absa to streamline the supply chain and reduce transaction costs for both parties.
"This initiative revolutionises the entire procurement function within Engen, empowering the users to buy through a well administered and cost-effective e-process," says Brian Fredericks, Group Procurement Manager at Engen.
"Engen have invested in technology to streamline processes and reduce transaction costs and the ProcureTrade solution takes them into the final step of completing the e-procurement cycle," says Dennis McCarthy, MD of ProcureTrade.
Infobank`s InTrade e-Hub software will be used as the underlying technology. The InTrade product suite has, in conjunction with enterprise level buyer and supplier capability, a multinational capability offering over 50 languages and currencies and multiple tax regime compatibility from a single installation. Its commitment to broaden its presence on the African continent being borne out by its significant in its South African subsidiary Infobank Africa.
Engen has selected several categories for the pilot that covers a variety of procurement situations, this include stocks replenishment, project purchases and stand-alone purchases and full integration into the back end SAP ERP system.
"Engen has partnered with ProcureTrade due to the capability and infrastructure that enables us to handle large corporate purchasing requirements," adds McCarthy.
ProcureTrade are able to offer turnkey solutions to enable business to business (B2B) trading and have the ability to fully exploit existing investments in third party systems.
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