procurement software

How Does Procurement Software Work?

The software typically encompasses several modules, each designed to handle specific aspects of the procurement process:
Requisition Management: Automates the creation and approval of purchase requisitions.
Purchase Order Management: Streamlines the creation, approval, and tracking of purchase orders.
Supplier Management: Facilitates the evaluation, onboarding, and monitoring of suppliers.
Invoice Processing: Automates the matching of invoices with purchase orders and goods receipts, ensuring timely payments.
Reporting and Analytics: Provides insights through data analytics to optimize the procurement strategy.

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