Dynamic and user friendly procurement management system for all types of Business.
Procurement management is a way of life for all kind of organizations. Changes within an organization’s approach toward procurement allow disorder to flourish and blossom. The major reason behind this hiding threat is the manual and paper-intensive procurement practices followed by organizations.
Manual procurement management is filled with high processing costs, lost or misplaced documents, sluggish approval cycles, missed discounts, and uncontrolled costs. Additionally, supplier relationships take a hit due to late payments, poor vendor management, inefficient dispute resolutions, and more.
All these factors make an already messy procurement management process even messier. Relying on manual tools will create an inadequate, non-uniform procurement process that causes leakage of revenue, missed opportunities for savings and growth, or worse, outright loss of the products.
To prevent the ubiquitous loss of money, effort, and control, organizations need to integrate all procurement functions, control spending, track purchases, and create an environment that enables growth.
Procurement management is the strategic approach to managing and optimizing organizational spend and it involves acquiring quality goods and services from preferred vendors within a stipulated budget, on or before the deadline. The procurement management process includes sourcing, requisitioning, ordering, expediting, inspection, and reconciliation.
A procurement management system helps to make any plan for purchases so that the procurement team creates a plan accordingly for all services and goods necessary for business operations. They decide what to outsource and set a budget for each procurement category. The planning aspect of procurement management involves setting up a system for company employees to communicate with one another about the status of each type of procurement in any given situation.
Procurement management system works like:
A procurement management system is a procurement solution that helps you real-time your procurement process end-to-end. It starts with requisitioning of goods and services & ends with payment.
Usually, a procurement management system like Pakiza software is comprehensive and contains several modules - eProcurement, AP automation, Strategic Sourcing, Supplier management, Contract management, Expense management, and Spend reports.
A procurement management system generally integrates with Accounting, ERP, and other third-party apps.
FEATURES OF CRIPTON PRO ERP
Budgeting | Purchase requisition | Supplier’s items | Supplier item | price list | Create CS(Comparative statement) | Purchase order
Proforma Invoice | Dynamic approval | flow | Billing | Payment | MRR Audit
| Dashboard | Purchase Recap | Procurement Progress | Purchase order approval status | Date range wise purchase History | Supplier wise payment status