Transforming PROCUREMENT MANAGEMENT process and buying outcomes
Procurement has never been better placed to impact on strategic outcomes and business performance than it is today. Yet a higher profile and influence come with increased pressure to deliver. Best of breed procurement software provides the tools to support not just improved process and compliance, but collaboration, insight and business advantage too.
web3 PROCUREMENT SOFTWARE
What is procurement software?
Want to know more about the term procurement software, also known as eprocurement software? Here is our explanation of the system and its functionality.
Procurement software refers to business software that automates sourcing and purchasing processes. This includes core activities such as raising and approving requisitions, ordering and purchasing goods/services, matching invoices to orders and payments. Procurement software benefits users by providing complete visibility of all procurement activities, this reduces the time and effort required to monitor spending across the entire organisation. As well as improving operational efficiency, procurement software enforces compliance policies by ensuring the entire organisation purchases from approved suppliers, and with built in electronic tendering (eTender) and auction (eAuction) capabilities, users can compare suppliers to one another to deliver sustainable cost savings.
Procurement software is designed to integrate the entire Source to Pay lifecycle, but with the flexibility of modern systems, users can deploy relevant modules and functions based on their procurement needs. This is typically segmented as: Source to Contract- featuring Contract Management, eSourcing and Savings Tracker modules; Purchase to Pay- Catalogue Enablement, Requisition to Purchase orders, Receipt Handling and eInvoicing; Supplier Management- covering both relationship and information management.
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web3 for Finance
Cut costs, reduce friction and streamline processes across key finance and AP activities from vendor master data management to invoice processing.
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With a seamless integration with your existing IT investments, our secure, scalable and flexible system can maximise returns by ensuring higher quality compliance, data and engagement.
Systems & Back Office Integration
Connect your business systems to allow seamless flow of data and real time-collaboration. Maximise the value of your IT investment by improving your business process.