Slingshot has added “intelligent OCR” receipt recognition to its Mobile Expensestm application. Mobile Expenses is available on IOS or Android powered phones. The application allows a user to capture expenses by entering the app and taking a picture of each receipt. An OCR process converts the receipt to text and automatically fills in the expense category, receipt date, description, merchant’s name, credit card # (last 4 digits) currency, and amount.
Slingshot’s Strategic Sourcing application (eSource) automates the process of identifying, qualifying and onboarding suppliers. RFx documents can be produced for a set of suppliers. These documents are extremely flexible and can include items to be priced, business terms, documents required and a survey. Supplier responses are recorded in Slingshot’s supplier portal. Responses are scored automatically based on price and survey responses. The RFx can be awarded as a purchase order or a contract.
Slingshot’s Supplier Portal allows registered suppliers to collaborate and add value to the customer relationship. The goal is to promote improved efficiencies for both the supplier and its customer.
Cost Sheets
The new “Cost Sheet” option is useful when getting quotations for engineered products. It requires the supplier to state all elements of the bid price including tooling, material, labor, processing costs, shipping costs, overhead and profit. Cost sheets provide a negotiating tool allowing you to compare each supplier’s assumptions and push back on cost elements that are out of line with other bidders.
The following features will be available in release 10.1 scheduled for general availability in mid-May.