Consumer Guide: Purchasing Software for your Business
Top purchasing management software in the market
When you’re growing a business, you may have a simple procurement process that works, but as your company begins to expand, you’ll soon find that the manual purchasing process you use is no longer efficient. There are many businesses who need help automating their purchase order process and that’s when they see the advantages of purchasing order system that can help make their business more efficient and productive. Here is a list of the top purchasing system software on the market and what they aim to do.
Procurify: This procurement software allows businesses to easily design a workflow of tasks from approval routing to cost allocation.
SpendMap: SpendMap aims to cost-effectively automate and streamline purchasing processes using SaaS and On-Premise Purchasing Software Systems.
eRequester: This purchasing order system helps businesses gain insight into spending and simplifies the requisition-to-approval process while providing real-time visibility with a complete audit trail.
Coupa: Coupa is considered a “Business Spend Management” platform for the procurement to expense processes that helps businesses save money.
Sage Intacct: Sage Intacct allows businesses to create structured workflows that give your business more control over spending and help automate the purchase order process.
What does purchase order software do?
Purchase order software allows businesses to easily automate and control spending from one simple platform. With 90% of business using manual methods of tracking purchasing, using a simple spreadsheet can become difficult for a growing business to manage their POs. Cloud-based purchase order and e procurement software allows you to easily automate your workflows, making a once stressful task more simple and manageable while eliminating redundancy from the entire process, helping to improve efficiency and productivity.
What are the key features of a purchase management order software you must consider?
As you can see from our list above, most purchase order software is meant to do the same thing: automate and control spending while helping businesses design a workflow that makes them efficient and productive. While there are many benefits to this type of software for businesses, it’s important to choose the correct one that will help improve the procurement process. There are a few things you have to consider when deciding which PO software is best for your business:
A database lets you to track information about vendors while allowing you to see order history and payment as well as service terms. When you want to compare vendors, a database is essential to help you make crucial businesses-affecting decisions. You can easily find who your biggest customers are and remind yourself of the service terms to make sure you’re doing everything you can to add value to your existing customers.
When it comes to productivity in the workplace, automation is crucial. If you’re currently tracking your POs in a spreadsheet, you know how time-consuming it can be. Instead, automation of purchase order management software and procurement software allows you to create purchase orders easily and handle recurring orders. Instead of typing up all of the necessary purchase information into spreadsheets, good procure to pay software keeps crucial information on file for so that you don’t have to go searching through your computer.
Because purchase order management can often be time-consuming and difficult without the right documentation, it’s important that your procurement management and procure to pay system creates documentation that allows you to easily track procurements inside your business and creates beneficial communication between yourself and your vendors. Good e procurement system should show you the details of each PO including who made the requisition, who the customers is, what items were purchased, and when it was created.
Tracking is important for both your business and your customers. It’s crucial for production as it helps them plan their day and prepare for future POs, while it’s important for your customer service team to be able to find information on tracking customers’ products. This is vital information for any business because it helps manage customer service issues along with tracking employee efficiency and productivity.
Approvals and Requisitions
When many businesses first start out, they don’t have a clearly defined purchase order requisition and approval process that makes it difficult to control costs. E-procurement software will help implement a more manageable approval, requisition, and review process that helps to control costs and make sure every step of the process is as efficient as it can be.
Matching Purchase Orders with Invoices
While a purchase order lists all of the items that are to be shipped, invoices are the documentation of what should be paid and by when. Purchase Orders may list pricing, but they are not an invoice, so it’s important that your purchasing order software can automate the process of turning a PO into an invoice that you can send to your customers and keep on file. Instead of having to look up a customer’s purchase order to create and/or find their invoice, good purchase ordering system should be able to automatically do this for you each time a new PO is created.
What are the different types of procurement system?
Most procure-to-pay suites are cloud-based and are all-purpose tools for purchase order management. They automate all tasks that need to be done under the procurement process, from PO management to invoicing and everything in between. P2P easily allows for automated approvals and requests for quotes that will improve workflows and help businesses stay efficient. For businesses who have been using spreadsheets for purchasing, P2P suits will dazzle and delight.
This type of software has a procurement module that can handle purchasing, but can’t handle all of the functions that more robust procurement system can. ERP tools are also not as user-friendly and instead of simplifying the process, can make it more difficult.
There are PO apps out there that are meant to serve specific functions and can help improve workflows, but they are not ideal for larger businesses who need a robust and comprehensive purchase order system.
All in One, Cloud-based Purchase Order System
Founded in 1985, Bellwether E Procurement Software, helps small and mid-sized organizations reduce costs, gain organizational control over spending, and improve regulatory compliance through implementation of our procurement management software and online spend management SaaS based solutions.
Whether you’re looking for simple procurement software or a more robust system, Bellwether has options that can suit your needs.
Bellwether EPMX software is great for companies looking for a robust, fully-functional purchasing solution. is a complete, E procurement management software suite that offers full features and functionality suitable for organizations of all sizes.