QLM Sourcing Enterprise is a strategic sourcing software program from QStrat that can be deployed in a private cloud, on-premise or as a hybrid version. According to QStrat, most enterprises opt for the cloud solution, which offers on-demand services and a platform that scales with your company's growth. The hybrid solution may offer similar benefits while allowing you and your IT department to integrate it with older computer systems.

QLM Sourcing Enterprise is a comprehensive strategic sourcing solution that incorporates components from the purchasing and customer management arenas. You can use the software to generate quotes for your own customers or manage your purchase-order process. Further, a spend-analysis function helps you control your overall sourcing strategy through analytics and reports. The software includes modules for managing both your supplier and customer information.

This strategic sourcing software offers some unique controls for quote and bid management. You can choose an option that allows both your suppliers and buyers to receive instant notification regarding bids thereby reducing bottlenecks in the process. There is also a comparison function so you can review and compare bids as they come in. The software incorporates review and signoff functions from a free Adobe PDF tool, so you can quickly and securely send requests, bids and other updates to outside vendors, suppliers or customers.

This software comes with some contract management features, and QStrat also offers integration with sales, costing and ERP solutions for organizations needing more robust features. QLM Sourcing Enterprise includes a number of essential automations – automatic change tracking, for example, an important feature for regulated organizations where transparency is essential. This program can also help nonregulated companies maintain their records and help keep interactions transparent and consistent. Some other benefits for strategic sourcing in a controlled environment include SOX compliance controls, audit trails and communication tracking.

This software can send automated reminders regarding a number of processes. You can set reminders to ensure workers throughout your organization respond to bids, queries or quote requests before deadlines expire. By avoiding due-date lapses, you position your company to take advantage of a greater number of likely orders.

QLM Sourcing Enterprise offers a lot of functionality, particularly for larger organizations that need a solution that integrates with existing technology. Smaller organizations that want a simple quote-and-bid software application may want to look at less expensive or less complex options, however.

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