Check out the lasso video demo series for an end-to-end guide on the platform. The demo series covers setting up your organization’s account, creating purchase requisitions, RFQs, purchase orders, supplier build status updates, Invoicing, Receiving, and Payments.
Get started by creating an organization and adding your team members to the organization.
Assign roles to team members based on their job scope and responsibilities.
Add your suppliers, internal cost codes, and inbound shipping locations.
Get started with P2P by creating a requisition with a user that has the permission configured to create requisitions.
Once the requisition is created and suppliers are added, send out the request for quote to your suppliers. They will receive an email notification to create their own account and access their free supplier portal.
To respond to the RFx event, the supplier needs to create their own organization and account. Once these are created, the RFQ will appear in their sales opportunities queue.
Once supplier responses are received, the team member with the buyer role and award the RFQ and create a purchase order and send it to the supplier.
Once sent by the buyer, the supplier can view the purchase order in their supplier portal and accept the purchase order. This creates a work order for the supplier that they can provide status updates against for the buyer to track status.
Purchase contract revisions can be initiated by the buyer or supplier. In either case, the buyer simply send the updated contract for the supplier to re-accept..
After completion of the contracted work, the receipt is processed by the buyer and invoice is submitted by the supplier. If the receipt, invoice, and purchase order match, the invoice is approved for payment.
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Payment is required for a buyer pro account which is needed to create and modify purchase orders. There is a monthly flat rate charge and then a usage cost charged per purchase order line item. The purchase order line item charge is charged for all change order revisions and drafts.
There is no cost for suppliers. A supplier can simply create a free account with their email and any sales opportunities sent to them from buyer RFQs will be in the supplier’s queue to respond to when they create their free account.
Yes, buyers can attached technical data files to the RFQ and suppliers can response with any other attached files they need as part of their response.
Group permissions allow the designated organization admin to grant access to groups of users within their company. This is useful if permissions to submit a procurement request, contract for items, and receive goods should be done by separate individuals. However, this is ultimately a decision for each organization to decide for themselves and the platform provides the flexibility to make these customizations to the user permissions.
Yes, the supplier will be automatically notified via the email. All supplier contacts listed under that supplier will receive an email notification. If your suppliers don’t receive the email, have them check their spam/junk folder.
support@lassoprocurement.com
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