This handy guide helps you identify the functionality you will need to obtain maximum performance in your department. Knowing what you need before you actually buy purchasing software will save you time, money and disappointment.
When you begin to evaluate software options for purchasing automation, it's important to differentiate between things that you must have and things that are nice to have. Once established, your list of things you must have can be used to shorten the number of potential options, while your list of things that are nice to have can be used for negotiation. We've created this checklist to help you identify and separate your wants and needs. Just review and mark each of the following as: "Must Have", "Would be Good", or "Don't Need". Then use that information when you evaluate vendors. Evaluation categories should include:
- Functionality
Requistion automation
Inventory control
Request for Quotation (RFQ) publication and management
Purchasing & vendor management
Receiving
- Compatability
To recognize maximum benefits from your purchasing software, it should marry vital information to accounting and other critical systems.
- Usability
Most companies have many users who don't use the software on a daily basis. If it is not easy for these users to navigate, the package will be hard to implement.
- Modularity
Separate modules (such as Purchasing, Receiving, Payables, Requisitions, Quotations and Inventory) allow you to implement functionality in a controlled roll-out, and ensure you pay only for what you need. "Whole Package" software may offer better pricing for those who can and will use the entire system from the beginning.
- Vendor Experience
Every new application and new software vendor has to build a following. Are you the type of customer who willing to take a risk to work with an unproven vendor or do you prefer the tried and true?
- Reporting Capabilities
Inability to get information out of a purchasing system and distributed to the appropriate people has deflated many a purchasing automation implementation.
- Technical Support
- Delivery Method
Software solutions can be available as licensed installed software, subscription-based web services, or both. Which is the most beneficial for you and your company?
- Compliance
Sarbanes-Oxley regulations apply to all publicly owned companies, and many private companies find it prudent to follow these regulations as well.
- Payback - ROI
Return on investment is affected by various factors in addition to how much you pay and how much you save.
Your free guide gives you detailed information about everything you should consider when looking into purchasing software. There's
no risk,
no obligation, and
no credit card required.