Procurement Software: What does it mean?

What is Procurement Software?

Procurement software, also known as purchasing software, is a type of business software that automates and streamlines the process of purchasing goods and services from suppliers. It is designed to help businesses manage the procurement process from start to finish, including tasks such as requisition, supplier selection, purchase order creation, invoicing, and payment.

Procurement software is extremely beneficial for automating purchase processes that help save time and money.

Procurement software solutions are primarily used for standardised products or services required regularly. For specialized purchasing, an alternate method may be used by an organization. Features available can vary depending on the vendor.