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Before the advent of e-procurement software, a company’s procurement was usually handled on paper. While it served its purpose, it was riddled with inefficiencies and proved to be incredibly time-consuming. As the internet and e-commerce grew in popularity, Procurement functions were transferred to email and websites. As technological advancements boomed across the globe, companies started using procurement technologies to help automate processes and increase profit margins. Beyond that, the technology aids in improved reliability, transaction visibility, transparency, and cost savings across the entire supply chain.
Now with a plethora of procurement software options available in the market, getting the right procurement tool makes all the distinction. It is often the difference between a successful procurement team, and a hassled set of people who are scrambling every day and dealing with frustrated customers, coworkers, and finance team members.
To help you pick from so many procurement tools and techniques out there, we’ve put together this list of the top 5 procurement management tools, along with their pros and cons.
Kissflow Procurement Cloud is a flexible procure-to-pay solution that helps companies of all sizes streamline their procurement processes. Companies can streamline their procurement strategy and increase process productivity with Kissflow Procurement Cloud. In one unified platform, it includes eProcurement, Punchout Catalogs, AP Automation, Supplier Portal and Management, Inventory Management, Custom Integrations, and much more. If you’re transitioning from manual procurement management tools or replacing disparate systems, look no further than Kissflow Procurement Cloud.
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Coupa is a business spend management platform that helps companies around the world gain visibility and controls overall spend to increase operational efficiency, reduce third-party and financial risk, and improve the bottom line. Via spend analysis, strategic procurement optimization, inventory management, and treasury management, Coupa helps companies get more value.
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Procurify is a spend-management and purchasing software aimed at mid-level companies. With Procurify, businesses can centralize all their purchasing information, thereby enabling users to create, track and report on all requisitions, purchase orders, and expenses. Its analytic reports help businesses track purchases in real-time and then use that data to make informed decisions.
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Precoro is a cloud-based purchasing software that streamlines procurement processes for small and midsize businesses. Purchase order creation and distribution, blanket POs, visual analytics on departmental spends, billing, real-time budgeting, three-way matching, and catalog management are some of the main features. Precoro centralizes all data, allowing users to monitor requisitions, approvals, budgets, and orders in one place. Users may also set due dates for requests based on their preferences.
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SAP Ariba is a cloud-based procurement, spend tracking, and supply chain management solution that connects suppliers and buyers on a single platform. It provides an all-in-one integrated framework for managing anything from sourcing to payments. Your supply chain, sourcing, and contract management processes are all digitally transformed with SAP Ariba.
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Kissflow Procurement Cloud is a comprehensive procurement platform that lets you handle everything related to purchasing from the comfort of your couch, from anywhere and at any time Thanks to the software’s low-code platform, it is a breeze to work with and adoption takes less than 4 weeks! Plus, it is more cost-effective than its competitors. Now you can execute procurement processes with ease and pinpoint accuracy. Sign up for a free demo to learn more about Kissflow Procurement Cloud.
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