Procurement Software and Solutions

EC Sourcing Group

The process of procurement has significantly advanced in recent decades, mainly due to the internet and cloud-based applications that can help streamline the process. The early days of eProcurement software were still intricate, with much dependence on spreadsheets to try to organize data.

Procurement Software and Solutions

EC Sourcing Group

The process of procurement has significantly advanced in recent decades, mainly due to the internet and cloud-based applications that can help streamline the process. The early days of eProcurement software were still intricate, with much dependence on spreadsheets to try to organize data.


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Paving the Digital Path to Purchase

Enterra Insights

The past couple of years has been a remarkable time for e-commerce as more and more consumers have discovered the digital path to purchase. Across industries and regions, people prioritized essentials and reduced impulse purchases. ” Paving the digital path to purchase (i.e.,

Procurement vs. Purchasing: Similar but Different


Purchasing? Or procurement? Although quite similar, procurement and purchasing are two distinctive processes , and understanding the difference between them can help facilitate your organization’s success. Purchasing and Procurement at a Glance. Procurement.

5 Essential Pieces of a Prospecting Solution

As organizations chase new revenue targets, B2B sales leaders must examine cutting edge prospecting solutions that proactively help reps identify, connect with, and close qualified buyers faster. This eBook aims to help B2B sales leaders better understand the five essential features your prospecting solution must include.

Know Your Supply Chain KPIs – Procurement

Logistics Bureau

On this blog and the one published by our sister company Logistics Bureau, we often receive questions relating to metrics suitable for monitoring procurement performance. 7 Procurement KPIs You Should be Using. Emergency Purchase Rate. Purchase Order Cycle Time.

What to Look for in Procurement Software Solutions

EC Sourcing Group

Procurement software covers a lot of bases, and there are many facets to procurement management that could potentially be streamlined and automated if you haven’t done so already. Procurement Software Solutions: What Is Procurement Software?



Implementing a cloud-based eProcurement software is a good investment. It is easy for organizations to get confused and come to the wrong conclusion about the implementation of a digital procurement solution. Here’s why! by Bhargavi Nake.

People in Manufacturing: Procurement


Procurement, also sometimes known as purchasing, is the group responsible for acquiring components, services, and other materials to manufacture a company’s products and to keep the operation running. The post People in Manufacturing: Procurement appeared first on QAD Blog.

Purchase Requisitions vs. Purchase Orders


Purchase requisitions and purchase orders (often referred to as POs) are both part of a business’s overall procurement and purchasing processes, which establish buying policies and outline purchasing steps. Supply chain operations are dynamic and complex, so it’s important to have a good grip on every stage of the procurement process. The difference between purchase requisitions and purchase orders. Purchase Requisitions.

e-Procurement tools preferred to ERP systems

Supply Chain Movement

E-Procurement is an essential part of the Purchasing professional toolbox with nearly 90 percent of large companies being equipped with a dedicated tool. 86 percent of the Trending in Procurement panel say their company has deployed an e-Procurement tool. “E-Procurement tools are designed to support corporate procurement strategy.

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5 Reasons why eAuctions Drive Better Savings


eAuctions are online real-time dynamic discussions between one purchasing organization and a group of pre-qualified vendors competing for the purchaser’s trade. Procurement price reductions can have a major influence on a business bottom line.

Delivering efficiency and performance with digital procurement software


Managing procurement processes and supply chains can be strenuous for many organizations. Resilient supply chains and efficient eProcurement software are what make the recent trends in procurement complete. Why choosing the right digital procurement software is crucial?

Why Procure-to-Pay Software is Critical Today


This month Gartner published its eagerly awaited Magic Quadrant for Procure-to-Pay (P2P) Suites , ranking the top 14 vendors based on ability to execute and completeness of vision. 1.Investing in Procure-to-Pay solutions is seeing the bigger picture.

How to Run a Purchasing Department


Having grown sufficiently, you may find your SME business now has the need for a dedicated purchasing manager – and perhaps even a purchasing department. So if you’re a business owner who is wondering how to run a purchasing department, then check out our practical guide below.

Two Types of Procurement: Project Based and Operational!

Supply Chain Game Changer

Featuring Our 12 Best Procurement Articles! Procurement operations are the backbone of every company’s supply chain. Fundamental to procurement is the acquisition of goods and services from a party that’s further up the supply chain. Project-Based Procurement.

Streamline Procurement Activities By Reducing Your Purchase Order Cycle Time


Purchase orders are the documents sent from the buyer to the supplier requesting goods or services that when accepted by the vendor forms a legal contract between the two parties. Typically, purchase orders will provide detail of the items the buyer agrees to purchase and the agreed price per unit. In addition, a purchase order outlines delivery dates and terms of payment for the buyer. A purchase order cycle. Creating the purchase order.

How Modern Software Empowers Procurement with Agility and Resilience in Times of Crisis


In a recent webinar, “ How to Leverage S2P Platforms to Enable Supply Chain Resilience ,” procurement experts from Forrester, Ivalua and Procurement Leaders discussed how digital transformation and the technologies that enable it can help companies mitigate risk and be more agile and resilient.

Top 10 Challenges in IT Procurement!

Supply Chain Game Changer

Featuring Our 12 Best Procurement Articles! Procurement is a process that involves obtaining and accepting terms and getting goods or services from an outside source. In other words, procurement is deciding to buy under conditions of less availability. Subscribe Here!

Establishing Procurement as a Competitive Advantage


In my previous posts, I looked at how to successfully launch a digital transformation and progress to best-in-class Procurement. Procurement was tasked with supporting a board level initiative to accelerate innovation and increase margins. The same applies to Procurement.

28 Procurement KPIs That Optimize Supplier & Buyer Performance

Silvon Software

Procurement is one core process area being focused to better manage today’s fluctuating change, with key performance metrics leading the way to assessing and managing procurement performance. The Basics of Procurement KPIs. Buyer / Procurement Department KPI s.

Top 4 Considerations for Supplier Management Software Solutions

EC Sourcing Group

Effectively managing your suppliers is an integral part of the procurement process (and important to the entire supply chain as well). Without goods and services, nothing can be produced, which would make procurement impossible. Supply Chain Management Cloud Software: Risk Minimization.

Purchase Order Management: a Key to Efficient Business


Efficient purchase order management helps to have essential business needs covered while engaging as few resources as possible. Once a supplier approves the purchase order, it becomes a legally binding document. What is Purchase Order Management, and why is it Important.

The Digital Path to Purchase is Difficult to Model

Enterra Insights

The funnel is typically seen as four categories that move from a broadening group of people (cold leads) to a smaller, more targeted and closer to purchase group of people (hot leads).”[1] Their purchasing journey is messy. The marketing funnel was a reliable model for over a century.

51st Symposium Purchasing and Logistics

Supply Chain Movement

51st Symposium Purchasing and Logistics. en/all-events/51st-symposium-purchasing-and-logistics/. This is why the 51 st Symposium will cover issues on the following topics: Purchasing 2030: thinking out of the box. The value contribution of purchasing: enhancing success. Supplier management: enforcing collaborative solutions. e-Solutions and business analytics: leveraging digitalisation. Tried and tested solutions.

Purchase Management: Purchase Order Software, Purchase Order Management


Efficient software for purchase order management allows procurement teams to cut sourcing and procurement costs, improve vendor relationships, and ultimately the company’s bottom line. But what exactly is purchase order software […].

What’s the Difference Between Direct vs Indirect Procurement?


What does Procurement mean? However, this is somewhat of an oversimplification of what the modern, best in class procurement organizations do for the larger business or organization. Procurement can and should be a significant value generator for the larger organization.

Purchasing Manufacturing Network Design Software? Consider These Factors

River Logic

Manufacturing network design software focuses on optimizing plant locations, capacity, and product flow paths. It can span what-ifs on internal production optionality versus outsourced production.

Have You Been Mixing Up Purchase Requisitions and Purchase Orders?


Procurement processes can seem complicated, but each stage of the process can be broken down into tangible, easy-to-understand steps. Understanding the difference between purchase requisitions and purchase orders will help businesses and their employees to have a greater understanding of the entire procurement process. Purchase requisitions. Purchase requisitions are an internal document used to seek approval to purchase goods and services.



How to effectively manage risk in procurement? Risk management in procurement. However, in procurement, the last thing you want is a risk. That’s why managing risk in procurement is essential. Manual handling of procurement processes. E-Procurement Software

Why Supply Chain Managers & Procurement Should Collaborate


The roles of logistics and procurement in an efficient supply chain cannot be overstated. According to Paul Myerson , reports Industry Week, up 70 percent of a company’s costs come from procurement and logistics operations. However, both logistics and procurement often become isolated in modern companies, resulting in inefficient practices and a sluggish production value. Let’s take a closer look at the current problem and its possible solutions.

Relieving Consumer Pain Points on the Digital Path to Purchase

Enterra Insights

As Tom Standage ( @tomstandage ), editor of The Economist ‘s ‘ The World in 2021 ‘, reminds us, the digital path to purchase is increasingly becoming the customer journey of choice. Although the number of consumers taking the digital path to purchase is predicted to continue its upward trend, McKinsey & Company analysts see it plateauing before it continues its upward rise. When consumers are ready to purchase, there are minimum safety measures they expect.

Struggling with bespoke purchases?


Claritum Article - Procurement Blog. Claritum’s solution for bespoke procurement. This can result in products and services being purchased across the organisation with no consistency of supply, sustainability or quality. Measuring bespoke purchasing data.

KPIs That Purchasing Executives Need

Silvon Software

There are many valuable metrics that can help you better assess your company’s performance at the sourcing / procurement level. Purchases that are incorporated in an organization’s products represent direct spend. Direct spend is a key area of performance to consistently measure because Procurement professionals must understand the impact of their sourcing decisions on both product quality and availability to customers.

Best Practices to Purchase Order Management Software

Veridian Solutions

It is time your organization has decided to purchase order management software and reap its benefits. Unfortunately, numerous order management system software vendors exist, and every vendor claims to have the best and biggest solution. Supply chain leaders need to understand the following points to ensure they purchase the right software on the first try. Justify the Need to Purchase Order Management Software. Rejoice.