BravoSolution has released BravoAdvantage, its next-generation procurement platform that enables organizations to generate more value, influence innovation and reduce risk across the supply chain. BravoAdvantage integrates supplier lifetime value throughout the entire strategic procurement process, providing the visibility, insight and transparency needed to power and improve every procurement initiative and decision, from demand to contract.
BravoAdvantage is designed to increase the effectiveness and efficiency of the entire strategic procurement process by integrating supplier value at every stage—savings management, spend analysis, sourcing, contract management and supplier relationship management.
New and upgraded functionality in BravoAdvantage includes:
• Savings Management, enabling procurement to report on value creation, more actively manage spend performance and identify and account for gaps between target saving, forecasted savings, realized savings and any deviations.
• Spend Analysis, powering procurement to leverage spend data to proactively identify new sourcing opportunities, better manage compliance and more accurately report on savings.
• Supplier Value Management, helping procurement proactively manage risk, improve compliance and increase visibility into the entire supply base, throughout the entire procurement process.
• Sourcing, streamlining procurement’s ability to source suppliers, run simple and complex sourcing events and evaluate goods, works and services in an automated and collaborative fashion to reduce cycle times, increase transparency and achieve faster ROI.
• Sourcing Plus, giving procurement an advanced approach and optimization platform to source its most strategic, complex categories.
• Contract Lifecycle Management, offering procurement a direct link between contract performance and Supplier Value Management, resulting in more compliance, better reporting and easier approvals.