THANK YOU FOR SUBSCRIBING
PANTAVANIJ : A One-stop- Shop for Procurement and Auctioning
The infiltration of digital technologies into the procurement departments of various companies has brought the world a lot closer. Today, with the power of eProcurement, businesses can source products at a reasonable price from anywhere around the world saving time and improving the efficiency and transperancy of their supply chains. Due to such capabilities, success rate, and proven results, eProcurement adoption has risen in mid-size and large enterprises. However, few organisations are still stuck with legacy ERP systems and manual approaches to streamline and manage procurement processes. Be it a traditional ERP software integrated with a builtin procurement module or a standalone, disparate procurement tool, their rigidity makes it difficult for businesses to shift to a complete digital procurement space. As a result, these businesses strive to keep up with the market trends, reduce professional costs, increase profit margins, and outrun their competitors.
A dynamic procurement partner like Pantavanij can help them manage the entire procurement process from online purchases, document management to invoice and spend management.
A Thailand-based firm, Pantavanij is a maven that is on a mission to make procurement and auction significantly hassle-free through its cognitive eProcurement solution and services. Since its inception in 2001, Pantavanij has been a reliable partner for large, mid-sized, and growing companies to strengthen their procurement processes. The company provides an end-to-end eProcurement platform and services to more than 400 companies in Thailand. “Our eProcurement platform is being used in 13 countries across various industries, such as Telecom, Retail, Banking, and Insurance,” states Mr. Apisit Kuparatana, Managing Director at Pantavanij.
Pantavanij mainly addresses six elements needed to achieve success in the eProcurement space: Procurement Application, eAuction Platform, Spend Analysis, Professional Cost Reduction Services, Supplier Connect, and the need for a group of a professional and experienced team. By offering its robust platform and services, they deliver clients seven key business benefits: costsaving, time-saving, procurement efficiency and agility, compliance and transparency, and risk avoidance.
The Power of AI
“Our unique AI-powered platform will propel enterprises to great heights and tackle their procurement hurdles effortlessly,” says Kuparatana. Pantavanij recently integrated AI technology into its solution to strengthen buyers’ monitoring and management capabilities, allowing them to discover suppliers and innovative strategies for further improvements. The power and capabilities of AI have been the true differentiator for Pantavanij, which gives them a competitive edge. The AI procurement auditor, which can detect procurement irregularities and reports to facilitate an investigation, helps large companies to trace anomalies while purchasing. The AI description matching feature can match goods and services by description and deliver more capabilities to compare product price, consolidate purchase volume, supplier and buyer suggestions. Lastly, the AI UNSPSC Classifier classifies the United Nations Standard Products and Services Code (UNSPSC) while automatically categorising the goods and services by description.
Our Unique Ai-Powered Platform Will Propel Enterprises To Great Heights And Tackle Their Procurement Hurdles Effortlessly
Digitising Procurement Processes
Pantavanij’s eProcurement platform is known for its robust features that help users succeed in the procurement arena. Procurement is a process of many steps. Automating repetitive tasks and using a data-driven approach is at the heart of Pantavanij’s system. The company’s eProcurement platform aims to enhance the efficiency of the procurement process by utilising a cloud-based application that enables online procurement transactions and helps eliminate client’s IT investment and maintenance costs. Pantavanij’s sourceto- pay software connects sourcing, purchasing, invoicing, payment and spend analysis. It allows procurement organisations to streamline all upstream and downstream processes and reduce their source-to-settle cycle time with several user values.
For the CEO and CFO, the transparency of the eProcurement platform allows them to forecast and plan expenditures throughout the fiscal year with complete accuracy and better overall results. Pantavanij’s platform has the added benefit of providing a transparent and easily accessed wealth of data that C-level executives can use to create detailed analyses of breakdowns of costs. With Pantavanij’s platform, businesses can enjoy staying on top of their expenses, translating into a healthier bottom line for their company. It also provides C-level executives with the ability to easily access every step of the procurement process from their homes or offices around the clock. Encompassing all businesses of all sizes and types, Pantavanij’s e-procurement offers a complete service from source to pay while enabling customers with other features such as self-service information set up, eCatalog, real-time mobile approval, eInvoice in conjunction with Supply Chain Finance, product availability on the dashboard and more.
As a part of Total Quality Excellence Framework function, the company’s platform offers a dynamic dashboard which presents KPIs of individual procurement department and organisation. The system will process data from the performance of separate purchase orders compared to the KPI required in each operational process. The dashboard is also integrated with procurement evaluation tools that help organisations monitor the procurement department’s performance and improve the efficiency of the procurement processes. The dashboard also notifies errors when work is abnormal and finds causes before problems occur.
To overcome the challenges of the manual approach used for verifying and scanning documents, such as purchase orders, receipt forms, and invoice forms, the company has developed an Invoice Management function that allows users to set up debts in Logistic Invoice Verification (LIV). This allows businesses to record each task from ordering products/services to purchase order (PO), goods receipt and vendor invoice.
The company also offers an online auction system, which is replacing the traditional way of auctioning. The auction users or participants can sell or bid for products or services via the Internet and compete in the fast-paced bidding environment. As a result, the users can negotiate successfully and save valuable time in the eAuction process.
A Case in Point
Pantavanij has helped several clients modernise their procurement processes. In one instance, a pharmaceutical manufacturing organisation in Thailand struggled to gain a holistic view of data in their ERP system. When the client sought help from Pantavanij, they came up with Intelligence dashboards, which connected all data from the ERP system by using the RPA tool. This allowed them to collect and transform data into one source. By using the AI tool, they were able to detect price anomalies in their procurement process. These dashboards helped clients analyse and visualise Big Data into strategic outcomes. The dashboard has transformed the big data present in various client organisation departments into Graphical presentations, which are easy to understand and communicate between end-users and the management team. Also, the clients’ team can use the dashboard to monitor their working performance or organisation’s activities in each unit or department in the organisation with an automated daily update without a human workforce. Therefore, they can set the business strategy or solution to tackle the problems effectively and instantly.
In another instance, Pantavanij helped a Telecom solution provider. This client was providing nationwide services, so they looked for contractors in various areas of all provinces. These contractors were responsible for bringing a fibre cable from a signal distribution centre to the user’s (customer’s) home to install a mobile and online signal distribution device in several areas and supervise after-sale services & maintenance. In such a situation, the telecom company frequently found problems involving contractors who proposed different prices for similar products or services.’ As the telecom company was overwhelmed with its core mission, it was difficult to focus on hiring and monitoring contractors and comparing prices for standard control. Their in-depth search for a reliable partner came to an end with Pantavanij.The client was able to solve their issue using Pantavanij’s Price Book Management solution. This function focused on standardising prices nationwide and eliminating false exorbitant prices proposed by contractors. The Price Book Management function was primarily created to enable sellers to specify standard prices for products or services by uploading costs required online. Buyers will be automatically notified before prices expire to negotiate everyday prices at the following time.
Paving the way for Digital Future
Currently, Pantavanij is used by more than 80 per cent of retail firms in Thailand and ASEAN countries, with a total purchase volume of USD 6 billion passing through our platform. As a result, today, the company is one of ASEAN’s leading providers of eProcurement and eAuction services. Pantavanij also marks its eminence in connecting suppliers across the ASEAN region. The company prides itself on bringing the businesses of different countries together.
With current offices located in Thailand and Vietnam, Pantavanij’s strategy is to expand its presence into more nations in the coming years. The company also envisions bringing new product ranges into the market by next year.