Catalog based purchasing (Rate Contract) solution is a completely interactive e-procurement application, providing real time access to suppliers. You can compare prices, check inventory and transmit purchase orders in real time. You no longer need to pick up a phone, type a fax or even send an email to place an order or check on the status of the order.

Subsequently, the supplier will send an electronic invoice and after the required approvals, payment can be made to the supplier electronically. Since all the activities associated with procurement are linked to each other, it eliminates the need for cumbersome reconciliation besides providing a robust audit trail.