Buy what you need, whenever you need it, from the right supplier, at the right price. Medius Procurement is our eProcurement package that'll bring all your spend under control and ensure compliance.
Reduce maverick spending and ensure that you're getting the right price from negotiated contracts.
Automate buying processes, including workflow approvals and generating POs for automatic distribution.
Increase straight through processing rates with PO Match Invoices improving control and compliance.
Search for what you need using our sophisticated search feature. If you prefer browsing, punchouts to third-party catalogs allow you to add items to a shopping basket and entered in your pre-designed approval process.
Set up approval workflows and permissions to ensure the right people approve requisitions and purchases. Automated approval emails make it easy to accept or reject the workflow without being in the software.
Ditch sending paper POs to your suppliers. By integrating Medius AP Automation with Medius Procurement you can automate the entire procure-to-pay process.
Detailed data is delivered through configurable dashboards. Drill down into specific transaction details or review an entire spend category giving you complete visibility of spend.
AP automation is often last on the list in a procure-to-pay process digital upgrade, but it should be first. Why? Because it is the true cornerstone for true spend management.
Read our latest blog to discover the top 3 reasons why you should put AP first in your procure-to-pay process, and how the entire organization will benefit as a result.
Rapidly bring together your back-office and third-party systems using Medius Connect. You'll be able to:
We’ve gathered everything you need to know about the accounts payable process, the efficiency KPIs to measure, and the latest AP benchmarks. Our report presents benchmark values derived from thousands of AP teams around the world so that you can compare your results with the average and best-in-class companies.
Plus, you’ll get top tips on how to improve efficiency for further acceleration and automation of the invoice process.
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.
eProcurement is designed to streamline the regular procurement process. Instead of manually doing things such as exchanging contracts, sending out tender documents or a request for proposal, and filling out supplier onboarding questionnaires, the entire process is automated. It also blends elements of procurement and finance to streamline operations between the two.
Here are the key components of an eProcurement solution:
The main function of any eProcurement tool is to streamline and optimize existing operations. It does this by reducing errors and enhancing efficiency by making the processes easier. It also improves communications between companies, suppliers, and stakeholders.
Managing procurement efficiently ensures that business operations will run more smoothly. Proper procurement strategies can make sure that all products and services are effectively acquired with the best business interests in mind. It can also help to save time, money, and resources.
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"Medius Procurement has helped with our cost control. We can see now where money is being spent, so we can ensure that we aren’t wasting money on expensive suppliers and aren’t duplicating effort."
Jacco Daemen
Finance Transformation Manager, CEVA Logistics
