Whether you are running a business or managing an individual project, it is important for you to keep your budget in check. Over-budgeting is a very common problem in any business, and it is usually caused by lack of procurement management. Thus, it is important for you to employ the usage of good procurement software for your business to prevent over-budgeting, as well as reduce operational costs.
Here are some of the best procurement software solutions for your business:
Turbine provides simple online purchase orders, expenses, time off, and HR records software that helps to get rid of complicated paperwork in your business.
Coupa provides cloud-based financial applications designed for spending management. It features procurement...
If purchasing management was an Olympic sport, then Rubberstamp.io would be steroids! The world’s simplest PO software, Rubberstamp.io gives your business the unfair advantage over its competitors by giving you user-friendly, real-time, control of your company spend.
Zycus provides procurement software designed to help improve your business performance.
Ivalua provides top-quality procurement solutions, which include strategic sourcing, contract management, spend analytics, invoicing, and more.
Procurify provides simple and easy-to-use purchasing software designed to automate your purchasing workflow.
SciQuest provides e-procurement software solutions that include requisition manager, spend director, benchmarking, and requisition management.
Verian provides a suite of purchase-to-pay solutions that help to prevent your business from overspending the budget.
ExpenseWatch provides automatic expense reports, payable invoices, and purchasing software that helps your business to spend in the right way.
Digital Purchase Order
Digital Purchase Order provides cloud-based expense management system that helps to prevent over-budgeting in your business.
SMART by GEP
SMART by GEP provides powerful and portable procurement software that allows you to streamline, automate, and save your procurement processes.
Ariba Procurement provides procurement software solutions with user-friendly shopping experience and largest supplier network.
Xeeva provides procurement and financial software designed to improve your productivity, increase efficiency, and reduce costs.
eRequester provides purchase order and expense management software that helps your business to implement standardized purchasing practices.
SpendMap provides purchasing software systems that help to automate your materials management, purchasing, and payables.
Vroozi provides mobile procurement software that allows you to customize procurement solution for your business.
DeltaBid provides user-friendly procurement software that helps to make your business e-sourcing processes transparent and easy.
Puridiom provides simplified procurement software that gives guaranteed results. It features e-procurement...
SutiProcure provides online purchasing software and e-procurement system that gives complete control and visibility for your business.
Oildex OpenInvoice provides procurement, invoicing, and payment solutions which help you to increase profitability, cut costs, and create efficiency.
Material planning and procurement is an essential process for most industry sectors. Various books and subject matters have been prepared to explain its importance and the best methods to do it effectively. Like many other processes, procurement has also transformed into a digital process that can be entirely carried out through the use of appropriate digital tools.
The process of procurement
E-procurement has become the go-to process when it comes to procurement, and the first user experience with the e-procurement tools has been highly positive. E-procurement has streamlined the process of procurement and has made it more manageable.
What do the procurement software tools have to offer?
The procurement software tools come with various features and options that make them suitable for businesses of all sizes. Be it a small business with just one operating location or a large conglomerate with offices in various continents, these tools can fulfill the requirements of almost all types of businesses. They offer options to build quotations, send them, and even track their status in real-time. These features help both the parties eliminate end-less follow-up and coordination on e-mails, thereby simplifying the process. Additionally, they also come with extremely customizable approval options. These options enable users to set up custom workflows and alter the process according to their organization’s needs.
Remote access features
The other important feature that these procurement tools offer is mobile access. The mobile access features act as a step towards further simplifying the process of procurement by offering various options. The processes of approving quotations, signing them, and even order dispatch can be controlled through smartphone-based apps. Additionally, these tools also simplify vendor management by listing all the associated vendors on a single, easy to access the dashboard. The Vendor management options provided by the tools enable users to create and share purchase orders, make payments to vendors, and track the status of various ongoing orders.
Integrations and cross-tool functionality
Apart from the above-mentioned features, another aspect that makes these e-procurement tools popular is the cross-tool functionality. These tools come with various integration options that enable users to connect them with other tools that they use. Cross-tool functionality enables easy coordination between multiple processes and makes users' life easy. The other less-talked-about features of these tools include tax compliance. The tools are capable of changing their tax compliance settings based on the regions in which the business is operating. The adaptability attributes of these tools further simplify the processes for the users.
Evolution with industry 4.0
E-procurement is the way to go as far as procurement in today’s time is concerned. It’d be interesting to see how these tools transform and evolve themselves according to the changes brought in by Industry 4.0. My guess is that they will evolve with a greater emphasis on automation and user experience.