{"id":3430,"date":"2015-05-14T19:43:43","date_gmt":"2015-05-14T19:43:43","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2015\/05\/14\/wax-digital-web3-esourcing\/"},"modified":"2023-05-31T08:34:13","modified_gmt":"2023-05-31T12:34:13","slug":"wax-digital-web3-esourcing","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/wax-digital-web3-esourcing\/","title":{"rendered":"Wax Digital web3 eSourcing"},"content":{"rendered":"<p>Wax Digital is a well-known provider of spend management solutions throughout the continent of Europe. \u00a0Based out of the United Kingdom, their impressive list of clients include Virgin Atlantic, Nissan, Sunguard and HMV. \u00a0Wax Digital boasts almost 250,000 users in over 100 countries. \u00a0There\u00a0web3 Purchase to Pay system is a cloud-based fully hosted solution<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<h2>Spend Visibility<\/h2>\n<p>Wax Digital\u2019s web3 Purchase to Pay captures and audits all areas\u00a0of the purchasing\u00a0process, allowing the user\u00a0to get a detailed view of their\u00a0spending over a particular period of time. For example, you can submit your data files to Wax Digital through the system quarterly and it will interrogate your spend finding areas of savings in your requisitions, orders and receipts\u00a0that may have been missed in the past or even find new cost savings opportunities.<\/p>\n<p>The spend visibility piece of\u00a0web3 Purchase to Pay allows for users to catch big areas of spend quickly, especially \u201clow-hanging fruit\u201d so to speak in areas such as marketing, printing, cleaning services and utilities. \u00a0web3 Purchase to Pay allows you to easily identify areas where, for instance, no contracts are already in place with a supplier.<\/p>\n<p>web3 Purchase to Pay also allows the user to easily indicate and identify areas such as revenue spend and capital spend for reporting purposes and for further investigation of cost savings.<\/p>\n<h2>Suppler Portal<\/h2>\n<p>web3 Purchase to Pay includes a dedicated supplier portal that is provided free to suppliers with no transaction fees. \u00a0Looking at the supplier portal area, one immediately notices that it is very user-friendly and offers intuitive navigation.<\/p>\n<h2>eAuctions<\/h2>\n<p>web3 Purchase to Pay offers 6 different auction types to their clients. \u00a0Features of the web3 eSourcing Online eAuction Software include:<\/p>\n<ul>\n<li>English, Dutch, Japanese, forward and reverse auctions<\/li>\n<li>14 languages<\/li>\n<li>Multi-currency<\/li>\n<li>Support for suppliers in multiple time zones<\/li>\n<li>Real-time bid management and price\/margin calculation<\/li>\n<li>Frequent software updates<\/li>\n<li>Buyer and vendor audited messaging facility<\/li>\n<li>Comprehensive event reporting<\/li>\n<li>Award vendor winner(s) for total auction or per lot<\/li>\n<\/ul>\n<p>To setup a procurement event such as an eAuction or tendering is relatively simple as the system offers menu-based setups allowing you to click and go to select particular conditions, rules and terms for the event. \u00a0The user can create custom templates (or Wax Digital can do it for you as well) by inserting relevant schedules.<\/p>\n<h2>Back-Office and ERP Integration<\/h2>\n<p>Wax Digital has developed its own hosted platform called web3 Connect that allows for fast integration into third party back-office systems and globally popular ERP systems\u00a0including SAP, Oracle, Sage, Microsoft Dynamics AX, JDEdwards and many others.<\/p>\n<h2>Cloud Technology<\/h2>\n<p>Wax Digital offers cloud-based hosted solutions to all of its clients, saving them on additional hardware and software expenses. \u00a0Peter Kinder, CTO of Wax Digital states, \u201cAccording to some clients\u2019 needs we can utilize a private cloud. This means that our web3 solution\u00a0exists in a dedicated, private network completely separated from all other clients, removing many of the security and control concerns that organisations associate with the cloud, yet still maintaining all of the benefits that cloud computing can bring. With a private cloud you can be 100% certain that your data is secured and you also have the control to scale the size of your cloud up and down according to customer demands.<\/p>\n<p>While Wax Digital may not be well known in North America, I believe that is very soon to change. \u00a0Wax Digital has some extremely innovated eProcurement\u00a0offerings with regards to Google Glass and Smart Watches. \u00a0Watch the NLPA Blog for a future article on these innovations.<\/p>\n<p><strong>Recommended Reading<\/strong><\/p>\n<p><a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/government-corruption-and-a-procurement-ethics-refresher\/\" aria-label=\"\u201cGovernment Corruption and a Procurement Ethics Refresher\u201d (Edit)\">Government Corruption and a Procurement Ethics Refresher<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/plan-procurement-certification-process\/\" aria-label=\"\u201cHow To Plan Your Procurement Certification Process\u201d (Edit)\">How To Plan Your Procurement Certification Process<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/have-you-tried-the-procurement-training-certification-starter-kit-yet\/\" aria-label=\"\u201cHave You Tried The Procurement Training &amp; Certification Starter Kit Yet?\u201d (Edit)\">Have You Tried The Procurement Training &amp; Certification Starter Kit Yet?<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/oil-prices-are-declining-time-to-call-your-suppliers-to-negotiate\/\" aria-label=\"\u201cOil Prices are Declining, Time to Call your Suppliers to Negotiate\u201d (Edit)\">Oil Prices are Declining, Time to Call your Suppliers to Negotiate<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/review-contract\/\" aria-label=\"\u201cHow to Review a Contract\u201d (Edit)\">How to Review a Contract<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wax Digital is a well-known provider of spend management solutions [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - 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