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LightSource Features
What are the features of LightSource?
Data Collection
- Savings
Project Management
- Dashboard
- Repository
- Lifecycle
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LightSource Categories on G2
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Management
Approval | Use criteria to add or remove suppliers to/from approved lists. | Not enough data | |
Communication | Manage communications with suppliers on multiple channels such as phone or email. | Not enough data | |
Documents | Capture and maintain documents related to suppliers and their products or services. | Not enough data |
Performance
Evaluation | Allows users to evaluate supplier performance using standard and custom KPIs. | Not enough data | |
Selection | Provide features to compare suppliers and choose the best option for various activities. | Not enough data | |
Risk Management | Identify potential issues and how they may impact relationships with suppliers. | Not enough data |
Supplier Information
Profiles | Create and manage supplier profiles that include contact and pricing information. | Not enough data | |
Qualifications | Identify the services and products provided by suppliers, as well as certifications. | Not enough data | |
History | Track history of all interactions and business transactions with suppliers. | Not enough data |
RFP Generation
Templates | Provide standard templates for different types of RFPs | Not enough data | |
RFX | Support other types of requests such as RFB/RFI/RFQ | Not enough data | |
Versioning | Track versions of RFP documents and related changes | Not enough data | |
Questions Library | Maintain a library of questions that can be reused | Not enough data |
RFP Distribution
Tracking | Track submissions from multiple vendors and suppliers | Not enough data | |
Analysis | Compare submissions and score suppliers | Not enough data | |
Selection | Choose the best submission for an RFP | Not enough data |
Submissions
Collaboration | Allow multiple users to collaborate on submissions | Not enough data | |
Knowledge Base | Maintain a repository or library of content and documents that can be reused | Not enough data | |
Review | RFPs can be reviewed by managers before submission | Not enough data | |
Reporting | Create real-time reports to compare data trends across processes, RFPs, vendors or profiles | Not enough data |
RFP Response
Project Management | Tracks the progress of any RFP in real time and set milestones to improve efficiency | Not enough data | |
Content Library | Updates, organizes, and stores content of a project | Not enough data | |
Access | Assign users, roles, and manage access in order to set tasks and leave comments | Not enough data | |
Automation | Automate repetitive and manual tasks, such as auto-filling answers and auto-responses | Not enough data | |
Export | Export files or spreadsheets with the ability to format and accomidate images | Not enough data | |
Import | Upload files or spreadsheets from multiple sources | Not enough data |
Contract Creation & Management
Contract Creation | Users can create new contracts within the platform using built-in document creation features. | Not enough data | |
Contract Templates | Create and access templates with to streamline contract creation, taking advantage of pre-written contract clauses and fields. | Not enough data | |
Contract Editing | Relevant contract stakeholders can edit, compare, and revise multiple versions of contracts. | Not enough data | |
Contract Attachments | Additional information, such as images, memos, and invoices, can be attached to contracts as supplemental resources. | Not enough data |
Collaboration
Contract Collaboration | Internal and external users are able to collaborate on contracts through a shared web portal with messaging features. | Not enough data | |
Approval Process | Contract approvals processes can be streamlined, so that departmental workflows are integrated logically into the system. | Not enough data |
Other Platform Features
Notifications & Reminders | Receive notifications and schedule reminders with alerts according to contract milestones. | Not enough data | |
Contract Database | Contracts can be stored in a central online repository with built in search capabilities. | Not enough data | |
Contract Compliance | Identify, assess, and manage all contract risks and ensure the fulfillment of contractual obligations | Not enough data | |
Integrations / APIs | The contract management platform can integrate with CRM software to associate contracts with customer records, and with CPQ software to feed calculated quote details into the contract. | Not enough data | |
E-Signature | Ability to e-sign legally-binding contracts within the same platform. | Not enough data |
Contract Data
Reporting & Dashboards | Enable standard and ad hoc reports of contract statuses and timelines, and access live overviews of contract activities. | Not enough data | |
Advanced Contract Analytics | Provides advanced, AI-driven contract analytics to optimize all aspects of contract management. | Not enough data |
Supplier Marketplace
Library | Provides a centralized library containing product data. | Not enough data | |
Categorization | Enables users to assign custom categories to products. | Not enough data | |
Data Management | Creates and manages product catalogs. | Not enough data |
Contract Management
Compliance | Assists with maintaining compliance with controlled processes, automated tracking, and audit trails. | Not enough data | |
Revenue | Identifies revenue opportunities by providing better visibility into spend data, improving supplier relationships, streamlining procurement processes, and identifying cost savings opportunities | Not enough data | |
Negotiations | Provides organizations with the tools and data they need to negotiate contracts more effectively, such as data analysis, collaboration, and contract management. | Not enough data |
Data Collection
Spend | Increases spend visibility into pricing and unintended or excessive use of discounts or promotions by customers. | Not enough data | |
Compliance Reports | Identifies noncompliant spending, fraud, and other activity outside of company policy. | Not enough data | |
Savings | Analyzes spending patterns and identifies areas to reduce costs. 10 reviewers of LightSource have provided feedback on this feature. | 95% (Based on 10 reviews) |
Project Management
Dashboard | As reported in 10 LightSource reviews. Provides a dashboard for searching and reporting on contracts and projects. | 98% (Based on 10 reviews) | |
Repository | Manages contracts in a single, online central repository. 10 reviewers of LightSource have provided feedback on this feature. | 95% (Based on 10 reviews) | |
Lifecycle | As reported in 10 LightSource reviews. Manages the entire contract lifecycle process by providing visibility into projects and allocating resources across sourcing initiatives. | 95% (Based on 10 reviews) |
Generative AI
AI Text Generation | Allows users to generate text based on a text prompt. | Not enough data | |
AI Text Summarization | Condenses long documents or text into a brief summary. | Not enough data |
Agentic AI - RFP
Autonomous Task Execution | Capability to perform complex tasks without constant human input | Not enough data | |
Multi-step Planning | Ability to break down and plan multi-step processes | Not enough data | |
Cross-system Integration | Works across multiple software systems or databases | Not enough data |
Agentic AI - Contract Lifecycle Management (CLM)
Autonomous Task Execution | Capability to perform complex tasks without constant human input | Not enough data | |
Cross-system Integration | Works across multiple software systems or databases | Not enough data | |
Adaptive Learning | Improves performance based on feedback and experience | Not enough data | |
Natural Language Interaction | Engages in human-like conversation for task delegation | Not enough data | |
Proactive Assistance | Anticipates needs and offers suggestions without prompting | Not enough data | |
Decision Making | Makes informed choices based on available data and objectives | Not enough data |
Agentic AI - Strategic Sourcing
Multi-step Planning | Ability to break down and plan multi-step processes | Not enough data | |
Cross-system Integration | Works across multiple software systems or databases | Not enough data | |
Adaptive Learning | Improves performance based on feedback and experience | Not enough data |
