Procurement can be a complex process for your organization, particularly at employee level. Processes can be laborious to follow, and it can be challenging to ensure that your workforce follows all the necessary protocols before making a purchase. That is where having a procurement tool comes to the fore, keeping your employees informed of the necessary steps in the procurement process, as well as ensuring that you cut down on maverick spend and unsanctioned purchases. This is further enhanced by eprocurement, which places these processes in the cloud, drastically reducing the time and money needed to regulate your organization’s procurement. But where to start when searching for a procurement software solution for your business? SCP is here to help with some expert tips on the procurement system software solutions that we offer.
What Does Procurement Software Do?
As with your procurement process, procurement software provides your organization with everything that it needs in order to conduct procurement online. Issuing purchase and requisition orders can now be conducted online, allowing your employees to request a purchase from anywhere and at any time, with you resting easy, knowing that the entire process is supervised and visible on the relevant digital portals.
Implementing digital procurement management software can help your business in a myriad of ways. Your transparency is increased as all steps are tracked on a single digital system, helping to cut costs by eliminating unnecessary or unverified spending. You will also be able to improve the efficiency of your organization across the board, as any member of your business can quickly and easily submit purchase requests without fumbling around looking for the right person or information. You are also able to pre-approve suppliers, simplifying the procurement process, and lessening the burden on the procurement team.
How Does Procurement Software Work?
A procurement software solution provides a portal for employees to submit purchase requests on, which are sent directly to pre-configured approval chains. Any requests will therefore be tracked digitally, providing employees visibility of progress on the requisition from the outset. The software will then allow the approver to pre-approve suppliers that employees are authorized to purchase from, and their purchases will be immediately visible to all the relevant stakeholders within your organization. Any required approval can be generated digitally, minimising human errors and greatly reducing turnaround times. Receipts are easily matched with the orders, and proof of payment documents are readied automatically.
What Are The Different Types Of Procurement Software To Consider?
The question, then, is which software is the best fit for your organization? There are several options to choose from, each with their own strengths. As a recognized partner for several procurement software solutions, SCP can assist you during every step of the implementation as well as the seamless integration of a solution into your existing processes – providing your business the advantage of established processes and complete transparency. Let’s have a look at SCP’s best options:
Consistently on top of the Gartner Magic Quadrant, Coupa is widely utilized by large enterprises globally. With noted clients like Barclays Bank and CHS, Coupa’s robust systems are proven at the highest level and cover the breadth of a multinational corporation. With their expert expense and spend management solutions, Coupa can assist any organization, big or small, and their wide array of business spend management solutions integrate seamlessly with each other to provide greater oversight of your business’s tail spend.
- Oracle NetSuite
As the oldest ERP in the world, NetSuite has an array of options to help your business. Their procurement solutions can easily be integrated with the rest of their software suite, turning your infrastructure into a single stream of data that can be easily accessed and understood throughout your organization. Best suited to small- and medium-sized enterprises, NetSuite can provide the perfect solution to a fast-growing business.