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.