First you have disparate systems. Then you combine them together to form a comprehensive solution. Then you integrate further complementary solutions with this comprehensive solution and then you get a comprehensive platform that is further increased in scope. This is what the online procurement software platform is. It is the solution formed by the integration of the core procurement module (which is a collection of the disparate systems that are used to manage procurement) with several complementary add-on modules like signature software and document management software.
Procurement involves a multitude of tasks – requisitions, sourcing, purchase orders, approvals, validations, auctions and reverse auctions, invoice management, payments, and analyses. If one does not use a single comprehensive system but disparate systems to manage each task individually, there will be lot of complications within the process, not to mention the complete lack of visibility. Since data collection becomes difficult, so does the analysis, and when one doesn’t analyze past performance, it is difficult to draw lessons for the future. Collaboration will be very little or non-existent.
The procurement software platform remedies all this by bringing everything into one solution, making it the centralized hub for everything related to procurement. From requisitions to monitoring deliveries, you can use this software for everything. All the data will be collected and made available for any analysis. Users can opt for the software’s analytics or integrate an analytics solution with the software for more advanced analysis.
The benefits of such a platform are obvious – streamlined and efficient procurement process, centralized hub for every procurement need, complete visibility into the process, no need for data duplication among different systems, collaboration among employees and processes, and flexibility and control.
So the choice is yours – do you manage a fairly complicated process using disparate systems, further complicating it, or simplify it and manage everything with a centralized solution – online procurement software.