Benefits of Working With IQuantum for your Procurment and spend management

Contracts Management: Why You Need It
Diversity Spend Tracking

Diversity Spend Tracking

iQuantum is a fully automated supplier eProcurement (source-to-settle) management tool with comprehensive Tier1/Tier2 diversity spend tracking and reporting solution.

Data Enrichment

Data Scrub/Enrichment

Data enrichment service for accurate diversity classification of diverse suppliers and identify additional diverse suppliers to increase diverse spend.

Vendor Risk Management

Vendor Risk Management

Member of Shared Assessment Group to ensure UpToDate evaluation criteria in areas on Information Security Assessment (InfoSec),Cloud Security Assessment (CSA) and more.

Quantum is a Fully Automated Supplier eProcurement (source-to-settle) Management Tool

Contracts Management

Comprehensive contracts management with fully integrated PO generation process to streamline renewals, approvals, terminations and more.

Integration with DocuSign and Adobe Sign, the leading electronic signature providers.

Directly link sourcing outcomes to contracts and ensure procure-to-pay processes.

Invoice Module

System can accept invoice and payment details from ERP, and P-card systems.
Suppliers can post invoices and track payments.

Supplier, Tier 1 & Tier 2 Diversity Spend Management

Vendor Outreach Module

  • Can supplier business cards at events
  • Share marketing documents with suppliers electronically
  • Supplier data is enriched and loaded directly into iQuantum

Supplier Registration Module (International)

  • The system tracks the development of all suppliers. Suppliers can upload their capability statements, awards, contracts, invoices, new initiatives, new service offering etc.
  • iQuantum 5-star rating feature has resulted in improved registration data quality.
  • Client is notified of any new information the suppliers upload.
  • Multiple automated missing certs and certification expiration notifications to supplier including expiration of self-certifications.
Teir 1 and Teir 2
Opportunity Exchange

Opportunity Exchange

  • Customers post potential opportunities within their organization.
  • Primes can post project leads to the customers diverse suppliers. This gives them the opportunity to meet and exceed customer diversity goals.
  • Suppliers can respond to the opportunities.
  • Customers and Primes can communicate with supplier through the portal.
  • Events and News Module
  • Customers can communicate with suppliers.
  • Customers can post news and events to all or select suppliers.

Supplier Scorecard

  • Supplier scorecard with risk mitigation.
  • Dashboard with details on supplier ratings and multiple scorecard ratings.
  • Create multiple Scorecards and invite managers to rate suppliers.

Data Scrub / Data Enrichment

  • Data enrichment service for accurate diversity classification of diverse suppliers and  identify additional diverse suppliers to increase diverse spend.
  • Ease to load data from any ERP, PCard system makes it easy for customers to instantly load their spend data and run various Tier 1 spend reports.
  • Economic Impact Analysis reports by various criteria
  • International Supplier diversity
  • Supplier data is enriched against all major local, state, national and third-party databases for supplier data.
  • Scrub conducted each quarter.
  • Confirm if a supplier is certified under the categories as defined by the customers’ Supplier Diversity Initiative.
  • Identify classified suppliers (Eligible to be certified).
  • Includes the certifying agency, diversity category, NAICS, SIC codes and Ethnicities for over 95% of the certified suppliers.
Data Management
Vendor Risk Management Module

VRM - Vendor Risk Management

The Vendor Risk Management module offers a comprehensive and highly customizable Vendor Risk Management solution. As a member of Shared Assessment Group the VRM solution has access to the latest requirement for vendor risk assessments.

  • Vendor Risk Management create efficiencies, mitigates exposure and demonstrates compliance.
  • VRM processes cuts the risk by giving an initial risk ranking of your vendors.
  • Managing spend against supplier risk ratings ensures supply chain continuity and preserves bottom line.
  • Top Areas of Risk- Cybersecurity, Third party Contracts, Regulatory Compliance, InfoSec Compliance, Financial Risk and Fraud and Corruption.

Contracts Management Module

The fully integrated contracts management module for complete visibility on contracts and the PO renewal process. Rapid contract creation allowing users to create contracts quickly from templates and use the clause library to build an approved contract.

Highly sophisticated search engine for quick and easy access of all company documents, brochures and marketing material. Integrated eSignature for contracts signing and approval.

Forecasting Module

A comprehensive and highly customizable forecasting solution allows customers to manage diverse and non-diverse forecasted spend impacting cost reduction factor.

Contracts Management Module
Energy Consumption

Compliance Management

Sustainability Management

  • Measure/benchmark energy consumption.
  • Understand organizational readiness / Review current policies.
  • Develop energy, water usage profile.
  • Complete greenhouse gas emission inventory.
  • Set targets/goals and develop strategic action plans for improvement.
  • Quality and Compliance Management.
  • Track, measure and report and Train.

Conflict Minerals Tracking Module

  • Customers can track conflict minerals through their n-tier supply chain.
  • System collects sourcing information on tin, tantalum, tungsten and gold used in products.
  • Tracks sourcing strategies.

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