The 5-Minute Guide to Choose the Right Procurement Platform

A Comprehensive Guide to Procurement Platforms

Shivasankari Bhuvaneswaran

February 3rd, 2019 Procurement Process  

Connecting the three crucial ‘P’s–people, processes, and paperwork–procurement has grown from a typically small branch of the business to a core, indispensable operation. In fact, workplace advisory organizations like HCMWorks rate procurement and other supply chain processes as highly important as sales and for the success of any for-profit business. This is why corporations around the world are scrambling to pick the right procurement platforms.

procurement platforms

To fully understand what they can do for your business, you’ll need to get a firm grasp of the concept of procurement platforms.

What Are Procurement Platforms?

Procurement platforms are dedicated environments where the processes central to procurement can be created, installed, and run, covering every task in the procure-to-pay cycle.

Procurement platforms are designed to streamline the process, help business users procure the right item at the right price, and build strong relationships with vendors.

The 5 Key Modules in a Procurement Platform

eProcurement platforms are usually designed in a modular style, with separate elements taking care of procurement functions. These are usually the top 5 choices:

Purchase Requisitions

Given that most organizations have a complicated hierarchy (due to sheer numbers at enterprises, and due to multiple roles in SMBs), purchase requisitions can feel as tricky to master as those ‘wacky wire’ games at carnivals.

If you’ve got an eProcurement platform with a dedicated purchase requisition app, you can cut down redundancy, delays, and inconsistencies in the process.

Purchase Orders

Consider this quote from the Supply Management Handbook: “It often costs organizations more than $100 in administrative expenses to generate a purchase order… In many firms, the cost of managing and generating a purchase order can exceed $200 per transaction.”

Traditional purchase orders simply aren’t cutting it, and this needs to change. Businesses across the world today use automated purchase order solutions like the one offered by KiSSFLOW. Automated procurement platforms like this can drive positive changes in productivity and cost efficiency by streamlining purchase orders.

Invoice Approvals

Manual invoice systems, the kind that are delivered through email and monitored through clunky spreadsheets that routinely cause errors, cause major bottlenecks in procurement.

The payment cycle gets delayed, receipts are often lost, and this costs the organization precious time, resources, vendor relationships and reputation.

WIth invoice approvals from a solid eProcurement platform, businesses can stay ahead of receipts, shipping, taxes, invoices, and hit deadlines with ease.

Vendor Management

Transparency is key in vendor management, and any good eProcurement platform needs to offer dedicated app that achieves full disclosure. This way, your procurement team has the tool they need to pick the right vendor.

With a good procurement platform, you can quickly identify bottlenecks and errors in your vendor management process, and establish fruitful relationships with all the right vendors.

Contract Management

Disorganized filing cabinets, a common feature of manually managed contracts, can be the failure of an entire procurement department, however qualified or experienced its team members.

By bringing order and structure to contracts, you can easily keep track of them. Organized contract management means an improvement in procurement as a whole.

Streamline Your Procurement Process With Kissflow

Features Every Competent Procurement Platform Needs

These are the key features to help you pick the right procurement platform. Each feature is specifically important to the tasks involved in any procurement department.

Smart Dashboard

Displays actionable insights backed by collected data, helping you take the right decisions.

Three-Way Matching

Purchase orders are matched against their respective purchase requests and invoices.

Fast Approvals

Automation and relevant notifications speed up the approval process.

Quick Customization

With KiSSFLOW’s drag-and-drop tools, easily tweak fields, forms, and more.

Quick Integration

Use KiSSFLOW apps easily in tandem with other solutions you may be using.

Automating Procurement Through KiSSFLOW

An easy-to-use workflow platform like KiSSFLOW can make a procurement process easy, simple, consistent, and efficient. Designing a task-oriented app is a simple matter, easily explained in 4 steps.

Step 1: Install the App

Design the working skeleton of your procurement app from the ground up, using forms, workflows, permissions, and more. Alternatively, use one of KiSSFLOW’s 50 pre-built templates as a starting point.

Install the Purchase Order App

Step 2: Customize the App

Customize every last detail of the app to fit your organization’s working style perfectly. Edit forms, templates, permissions and entire procurement workflows with simple drag-and-drop modules and an easy-to-understand visual design.

You can tweak the app’s functionality, and build everything from a simple data collection tool to something that can handle complex procurement processes by auto-fetching data and restricting data access hierarchically.

Purchase Order Form

Step 3: Implement the Procurement Process

Once you’re satisfied with the app you’ve designed, you can instantly share it with the relevant business users, who can start using it right away. There are no delays from overloaded IT teams when you create procurement apps using the powerful KiSSFLOW platform.

Step 4: Streamline the Process

Once business users start using your app, you will be able to identify the bottlenecks in the process. Armed with this data, you can then tweak your process, and continue making changes as and when required.

Improve procurement process

Why Pick KiSSFLOW?

If you are having a hard time finding the right procurement system, you may need to consider building it yourself.

KiSSFLOW is a procurement software that lets you build and automate all of your core processes from the same platform. Procurement teams can design their own forms and workflows without needing to rely on software vendors or IT partners.

Automated workflows with your own procurement platform will save you money and boost efficiency.

Take a look at KiSSFLOW and see how easy it is to create your own procurement platform!

Streamline Your Procurement Process With Kissflow