Deepockets adopts a very different and innovative, quantity, rates (prices) and exchange rates-based approach to budgeting, procurement, and expense approvals in addition to the conventional value-based approach. It is a ready to deploy cloud hosted, spend management system, meant for use in enterprises of all sizes as a tool for digitalized management of total spends.

Do you want to budget before you spend, approve before you commit, understand before you approve, and, analyse after you spend? Then deepockets, is a must-have platform, that gives you, an immediate ROI on your spend, within the first year itself. Deepockets is a digital platform, that helps manage spend, procurement, and budgeting. It provides, an online approval system, for every spend, and every commit.

You can budget, for every spend, at the most granular level, – quantity, rates, and for cross-country spends, exchange rates. You can manage and control, every spend, at the same granular level, at which you budgeted.

Every approver knows, the current spends, versus budget, and owns the decision, whether to spend or stop. Ditto for every procurement prior to commit, vetted by a dynamic chain of approvers, and procurement committees, and every procure or consume from store scenario, and all approvals, supported by a digital trail.

If your annual, or project budget, projects a total spend of “X” amount, and a profit or saving of “Y amount, deepockets gives you the tool, to ensure, that you achieve your objective. That is an immediate R O I, in the first year itself. A more granular example, can be as follows: If the intraa city travel, has been budgeted at 150,000 miles, in a year, the management will know, at any point of time, the sum of, actual distances of, travels undertaken. This can help, in regulating travel spend, as well as budgeting for next year.

Deepockets, has an approval workflow, that is dynamic, flexible, and has a less complex approach, to managing expense approvals, requisition, and procurement authorisations, in comparison to, manual, paper-based approvals, and SAP or other E R P s. It has parallel workflows, that can handle, approvals by the Board, and procurement committees, out of office functionality, email notifications at every step, single click email approvals, and much more.

It helps improving the accuracy of the procurement, reducing the procurement cycle, digitalising the entire approval process, and, enabling work from anywhere. It pretty much lives up to the demands of a digital enterprise.

With user friendly screens, and an integration gateway to SAP and other ERP s, it can make life easier, for the user, and the administration community, and can be, the ideal efficiency multiplier, for a forward-looking organisation.

Would you need, good looking charts for your Board presentations? Are you short of time? Don’t fret. Deepockets provides you, real time charts, and can be hooked to your Board room, live.

The product highlights are:

– It helps manage budgets – not just based on value, but also based on quantity and rates

– Manages spends and enables Managers to approve or stop spends

– Provides actionable information on current spend levels for Managers to take informed decisions

– Provides clear and instant overshoot diagnostics regarding Quantity over budget, Rate over budget or Exchange rate over budget

– Helps regulate the overspends within the year by realigning rates, quantities or exchange rates; or augmentation or transfer-in of budgets

– Provides for elevated levels of approvals for budget overshoots

– Provides on-the-fly live analytics and charts on spends for Board presentations and discussions

– Mobile app extension for capturing images of items being procured, resulting in accurate procurements

– Covers both operational and project spends

– Provides the benchmark for subsequent year’s budgets

– Provides easy to integrate options for integration with SAP, other COTS applications and bespoke applications

The benefits of deepockets for any Enterprise would be:

1. Every spend (Requisitions and Expense requests) is authorised with a digital trail. Authorisation can replicate the DoP including that of Procurement Committees.
2. There is saving of user license costs in comparison to an ERP usage
3. Requisitions are raised by actual users and not entered into excel sheets, eliminating inaccurate procurements.
4. Approvers CAN ensure that the Organisation stays within the budget and can achieve profit targets.
5. Managers can exercise controls on Quantitative and Rate elements of the spend.
6. Deepockets provides the tools to analyse overspends and provides the benchmark including the quantitative information for planning the budgets for the following year.
7. We help in integrating deepockets with your current application.

Interested? Deepockets, can be used, by enterprises of all sizes, and belonging to any industry. And the simplest of implementations, can be rolled out in a matter of weeks.

email
sales@kuralconsulting.com