procurement management software

procurement management software

The Best Procurement Management Software Solution for your Business

Our Procurement management software is the smart choice to manage all procurement related activities like purchasing, storage, and supply chain management. Basically, this application forms the back bone of organization in order to improve productivity, shorted the business cycle, reduce cost, etc. Our Procurement management software features E-catalogue, Document Management System and Vendor Management. This software helps organization simplifies procurement of goods and services within an interactive dashboard. Ensures maintenance of stock and inventory within a manufacturing unit, simplifies management of vendors.

The Functionality of Procurement Management Software!

The procurement software solution is the cloud-based marketplace application in which the buyer and seller both can interact and start the procurement process.

  • Buyer creates RFP: If you are looking for purchase products and services then you need to add supplier in procurement application and create an RFP (request for proposal) so vendors can check his proposal and requirements.

  • Supplier responds to RFP: The next step in procurement application is suppliers need to respond on buyer RFP and send the RFQ (request for quotation) to the buyer.

  • Buyer views the quote of suppliers: Once the buyer receives a quotation from all his suppliers if the buyer proposal meets supplier expectation then the buyer selects a particular supplier and raise the purchase order if the supplier quotation will not meet buyer expectations he can follow the rest process.

  • Buyer starts the negotiation process: If the buyer does not receive an expected quotation from the suppliers then he can start the negotiation process for his expected proposal.

  • The supplier can check his competitor’s Quote: Once Buyer starts negotiation then the suppliers can check the minimum quotation of his competitors.

  • Buyer will check minimum quote: Buyer can check minimum quotes of the supplier and select the particular supplier.

  • Buyer places the PO: After selecting the particular supplier then the buyer can generate the PO (purchasing order) for the supplier to start the purchasing process.

  • Supplier receives PO: When the supplier receives the PO from the buyer and starts the order delivery process for the buyer.

  • Buyer receives delivery of goods and initiates payments: Once the buyer receives the delivery of products or services then he starts to initiate the payment process for the supplier.

Procurement management system or e-purchasing solution is the ideal solution for procurement industry for quick interactions with vendor and suppliers. Acquisition of goods and services becomes transparent and easy within an organization for decision making. Ensure a proper balance between demand and supply of goods leading to efficiency in production and growth. If you require an e-procurement application for your organization, then simply Book a Demo with our expert team and they will guide you with integration details depending on your requirement.

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