Procurement software, also known as eProcurement, is a process of requisitioning, ordering and purchasing goods/services via the internet.
At an enterprise level, a chief procurement officer will set policies for procuring goods and services for the business, with a goal of getting what the business needs for the best possible value. To accomplish this, there are several actions to take, such as: establishing supplier relationships, negotiating contracts, and setting purchase limits. In many cases, businesses choose to make this simpler and far more efficient by using procurement software. Procurement management software allows businesses the opportunity to boost efficiency within the procurement process.
Our eProcurement solution gives procurement leaders the ability to streamline and automate these policies, alongside vendor contracts and relationships in one system. It also enables employees to look through any catalogs and select the items they need in one centralized digital hub, instead of an elongated manual process.
Users of eProcurement software can manage purchases based on permissions set by an admin, enabling buying professionals to manage delegating responsibilities more accurately. Any supplier contracts can also be stored within your procurement platform alongside the vendor’s contact information, and payment terms, making managing relationships easier.
A procurement software system is essential for any business that wants to cost efficiency and control in mind. Learn more about our procurement software and eprocurement solutions.