LOA/LOI Management System

Overview:

The client required an automated system for Letter of Acceptance (LOA) creation and management to streamline procurement processes. The system ensures seamless integration between sanction notes (SN), suppliers, and purchase orders (POs) while maintaining transparency and compliance.

Challenges:

• Manual LOA creation led to inefficiencies and delays.
• Lack of a centralized system for tracking LOA statuses.
• No automated communication between buyers and suppliers.
• Inconsistent document storage and retrieval.
• No real-time monitoring and reporting of LOA lifecycle.

Solution:

• The system automates LOA creation based on predefined conditions:
• LOA can be generated only if SN is completed and the supplier is active.
• LOA creation is restricted to users with the ‘PO Creator’ role.
• Automated email notifications ensure smooth communication.

Key functionalities include:

• LOA Creation: Buyers can generate LOAs from completed SNs.
• LOA Management: Status updates include Draft, Pending for Acceptance, Accepted, Rejected, Deleted, or Cancelled.
• Supplier Actions: Suppliers can approve/reject LOAs, with notifications sent accordingly.
• Reports & MIS: Real-time LOA tracking, status filters, and detailed MIS reports.
• System Notifications: Email alerts for LOA issuance, acceptance, rejection, and cancellation.

Outcome:

The solution improved efficiency, reduced manual errors, ensured compliance, and provided real-time tracking and reporting of LOAs, enhancing procurement operations.

Client: Consumer Services Company, India

Technology Used