A spend management solution for mid-size and enterprise-class organizations.
web3 is a cloud-based spend management solution that provides eProcurement features. These features can be implemented case by case (standalone modules) or as an integrated payment management suite. Web3 spend management provides strategic sourcing, e-Procurement, AP automation, supplier management, direct procurement, and integrations with your back end systems.
Web3 offers a number of platforms that can be bought separately or integrated into a complete purchasing suite.
The biggest benefit of implementing web3 is that now we have the ability to have control and visibility of the supply of information that we need from the business. It has allowed us to control our risk and compliance, give us current and up to date information, and most importantly at the end of the day it allows us to align our supply base.
At Coventry, we had no system and no diocese so implementing web3, the best thing that benefited us was that we had rich data, we understood our supplier spend, we understood which suppliers we were working with, and we could give information to the business for informed decisions, and that’s led to sourcing strategies and supplier relationship management. I don’t think that could have been achieved without the program.
The best benefits that Wax Digital has brought us is due diligence and management of due diligence and the protection of our risks. By bringing it into web3, we can active manage it with all stakeholders and make sure we are protected as a business and our suppliers are accredited and approved.