Patent Application
20140244449
The instant application claims priority to Indian Patent Application Serial No. 567/MUM/2013, filed Feb. 27, 2013, pending, the entire specification of which is expressly incorporated herein by reference.
The present invention relates generally to electronic procurement, and more particularly, to calculating savings by auto-fetching spend data. The present invention discloses an integrated system and a method for calculating savings at several stages of the procurement cycle by auto-fetching spend data into a savings tracker system.
Once procurement professionals decide on which goods to buy, a sourcing project for the good is typically launched. The sourcing project may have multiple stages and savings and may be reported across each stage until the time of buying. These stages could be: potential stage; negotiated stage; contract stage; implemented stage; or realized stage. The challenge is how to estimate spend data (e.g., baseline spend) at each stage to calculate the savings by comparing baseline spend and actual spend. Generally, at each of these stages, savings are calculated by providing spend data manually.
Accordingly, there exists a need for new and improved systems and methods for electronic procurement of goods that overcome at least one of the aforementioned disadvantages.
The present invention provides an advantage by introducing an integrated system and a method for calculating savings at several stages of the procurement cycle by auto-fetching spend data into a savings tracker system. This baseline spend data may be fetched automatically from different systems, e.g., a spend management system, a database of contracts of suppliers, an auction and bids information system, or an e-procurement system, all of which may be integrated with the savings tracker system at each different stage of the procurement cycle.
An object of the present invention is to provide integrated systems and methods for calculating savings at several stages of the procurement cycle by auto-fetching spend data into the savings tracker system.
Another object of the present invention is to provide systems and methods for auto-fetching of the baseline spend data from different systems, e.g., a spend management system, a database of contracts of suppliers, an auction and bids information system, or an e-procurement system, all of which may be integrated with the savings tracker system at each different stage of the procurement cycle.
In accordance with one embodiment of the present invention, a system is provided containing an integration of several systems for calculating savings at several stages of the procurement cycle by auto-fetching spend data into the savings tracker system, the system comprising:
a processor unit; and
a computer readable medium storing instructions executable by the processor unit comprising:
an integrated spend data input system adapted for auto-fetching of the baseline spend data from the respective system;
a savings computing system adapted for computing savings at several stages of the procurement cycle by comparing the auto-fetched baseline spend and spend at each stage of the procurement cycle by the general formula:
(auto-fetched baseline spend)−(spend at the specific stage of the procurement cycle)=(savings at the respective stage of the procurement cycle);
and
a display system adapted for displaying savings at the respective stages of the procurement cycle.
Further areas of applicability of the present invention will become apparent from the detailed description provided hereinafter. It should be understood that the detailed description and specific examples, while indicating the preferred embodiment of the invention, are intended for purposes of illustration only and are not intended to limit the scope of the invention.
The invention will now be described in relation to the accompanying drawings in which:
The same reference numerals refer to the same parts throughout the various Figures.
The following description of the preferred embodiment(s) is merely exemplary in nature and is in no way intended to limit the invention, or uses.
Referring to
a processor unit; and
a computer readable medium storing instructions executable by the processor unit comprising:
a spend data input system adapted for auto-fetching of spend data from the respective systems;
a savings computing system adapted for computing savings at several stages of the procurement cycle by comparing auto-fetched baseline spend and spend at each stage of the procurement cycle by general formula:
(auto-fetched baseline spend)−(spend at the specific stage of the procurement cycle)=(savings at the respective stage of the procurement cycle);
and
a display system adapted for displaying savings at the respective stages of the procurement cycle.
According to an exemplary embodiment, the system contains an integration of a spend management system, an auction and bids information system, a database of contracts of suppliers, or an e-procurement system, with the saving tracker system.
According to another exemplary embodiment, the several stages of the procurement cycle may include potential stage, negotiated stage, contract stage, implemented stage, or realized stage. The potential stage of the procurement cycle is an initial stage of the procurement cycle where spends are forecasted and the savings at the potential stage are potential/forecasted savings. The negotiated stage is the stage where price negotiations are done by the buyer and spends are re-forecasted as per new price negotiations, and the savings at the negotiated stage are negotiated savings. While the implemented stage is a stage where the price of purchasing of the goods is finalized, and the savings at the implemented stage are implemented savings and the realized stage is a stage where the actual price is paid to the vendor, and the savings at the realized stage are realized savings.
According to yet another exemplary embodiment, when the specific procurement stage entered or activated into the savings tracker system, the system recognizes the specific procurement stage and activates the respective integrated system to provide the requisite auto-populated baseline information based on the pre-configured decision rule(s). These pre-configured decision rule(s) being responsible for triggering the respective integrated system upon entering set of words into the Savings Tracker System to denote starting of specific procurement stage. For example, the savings tracker system when the word negotiated stage is typed or any such synonym is typed into, there are pre-configured decision rules to recognize such words and upon recognition they trigger the activation of respective integrated system to fetch the auto baseline data.
According to yet another exemplary embodiment, these stages of the procurement cycle are mapped to several different systems, e.g., the spend management system, an auction and bids information system, a database of contracts of suppliers, and an e-procurement system, all of which may be adapted for gathering information automatically from these systems when the project reaches a respective stage, which further aids to forecast the spend and calculate savings.
According to still another exemplary embodiment, the spend data at a potential stage may be obtained from the spend management system. The system enables the user to select the spend data of a specific year as a potential spend based on pre-configured decision rules. The spend data at the negotiated stage may be obtained from the auction and bids information system. The system enables the user to select the specific bidder's information as the negotiated spend based on pre-configured decision rules. The database of contracts of suppliers may provide the spend data at the implemented stage which is an agreed contracted price for the item and the e-procurement system may provide the spend data at the realized stage which is invoiced spend data for the item.
According to another exemplary embodiment, the savings at each of these stages, e.g., potential stage, negotiated stage, contract stage, implemented stage and realized stage, may be calculated respectively by the formulae:
(auto fetched baseline spend)−(potential/forecasted spend)=potential/forecasted savings;
(auto fetched baseline spend)−(negotiated spend)=negotiated savings;
(auto fetched baseline spend)−(implemented spend)=implemented savings;
or
(auto fetched baseline spend)−(realized spend)=realized savings.
While the invention has been described with reference to an exemplary embodiment, it will be understood by those skilled in the art that various changes can be made and equivalents can be substituted for elements thereof without departing from the scope of the invention. In addition, many modifications can be made to adapt a particular situation or material to the teachings of the invention without departing from the essential scope thereof. Therefore, it is intended that the invention not be limited to the particular embodiment disclosed as the best mode contemplated for carrying out this invention, but that the invention will include all embodiments falling within the scope of the appended claims.
| Number | Date | Country | Kind |
|---|---|---|---|
| 567/MUM/2013 | Feb 2013 | IN | national |
