Purchase management is one of the complex process in supply chain with objectives that reach far beyond the traditional belief that purchase departments primary role is to obtain goods and service to satisfy internal needs only. We can categorize purchase departments overall role in four sections: smooth continuity of supply, effective sourcing, vendor management, develop integrated purchasing strategies that support organizational mission and vision.
The integrity of your promise about the superior quality of product you are delivering to the people depends on the expertise and abilities of your purchase department. But it is found that in most of the organizations ,purchase management activities are manual like creating requition format, purchase order, vendor details , contract details, MIS, accounts payable, tracking quality and many more that resulted into: errors prone system, lack of accountability, transparency, integrity and control, delay in time to market, Cost, time and effort consuming in repetitive tasks, information gap between purchase and other departments like inventory, production and accounts.
One of the best solution to eliminate these complexities is to automate procure-to-pay activities by deploying purchase management software. Purchase management software brings many benefits for purchase professions as well as for the whole organization like:
- Eliminate duplicate and unnecessary expenditures
- Transparency throughout your entire procure-to-pay cycle
- Prevent all fraudulent or unauthorized activity
- Accelerate approvals
- Speed up the purchasing cycle
- Reduce time, cost, effort and errors
- Provide meaningful insights helpful for decision making
- Smooth and uninterrupted flow of information between all the departments
- Effective budget management
Modern purchase management software allow you to design it as per your specific needs, web based solution easy to deploy and use and its ability to integrate with other third party systems like ERP, accounting help you to capture real time data insights necessary for strategic decision making. It also comes with mobility and cloud which empower your purchase professionals to use it on the go.