Master Tracking Document
RigSupplies.com features a proprietary
Master Tracking Document (MTD) that
provides huge cost savings for both buyers and sellers in the supply chain.
The MTD enables buyers and sellers to generate electronic invoices, tracking
numbers, and purchase orders to streamline the flow of information that
follows any B2B transaction.
Once a buyer has accepted an RFQ, or made a direct purchase with a
single supplier, they can then generate an electronic purchase order. This
electronic document is archived so buyers have access to every detail of
the transaction at any time in the future, seven days a week, 24 hours a day.
Using the MTD, suppliers can generate electronic invoices for buyers
once the purchase order has been created and the product shipped. These
invoiced MTDs are also archived and accessible 24/7 from any location.
With both suppliers and buyers using a common purchase order and
billing system, registered companies can save significant time and money
by using the MTD. This includes streamlining month end financial reporting
since there is no lag time between the date purchase orders are generated
and the arrival of the invoices for payment. This is all handled
electronically, with the ability to generate printable versions for
hard copies of the documents.
The MTD also offers huge value in terms of its reporting abilities.
For example, buyers can generate reports on prior purchases right down
to specific products such as crescent wrenches and lock washers. Based
on these reports buyers can then identify specific cost saving
opportunities. This includes anything from bulk purchasing products
based on buying history to identifying possible theft of supplies. For
more information on the site’s antitheft capabilities
click here.
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