Home TECHNOLOGY Best Procurement Solutions in 2021- Pros & Cons

Best Procurement Solutions in 2021- Pros & Cons

by Aishwarya
Best Procurement Solutions in 2021- Pros & Cons

Procurement software centralizes and automates the procurement process and inventory refilling. The majority of procurement software solutions has broadened its scope to enable businesses to manage all aspects of the e-procurement process from a single interface.

Several important benefits come from using the best procurement or e-procurement software. Purchase orders, invoices, and paperwork are all centralized in the system. It results in significant cost savings for large companies and production-oriented firms.

Best leading business procurement software solutions:

Procurify Procurement software solution

Procurify is a web-based service that is available to businesses of all sizes. Procurify interacts with common enterprise resource planning systems like QuickBooks, NetSuite, Dynamics Sage, and Sage 50. Because it has its in-app alerts and communication programs, it provides a centralized location for all interactions.

Pros

  • Before approving any new requests, the system can be used to examine the existing and spending budget status.
  • Keeping track of credit card expenditures, and also home and enterprise expenses.
  • Keep track of vendor performance as well as the condition of products that have not yet been received in a particular region.
  • Purchase management is supported, as is the ability to customize the level and authorization flow.

Cons

  • Requests that are pending or have been approved can only be accessed through the web application.
  • There is no free trial period.
  • Self-approval can not be restricted to a certain user.

GEP SMART Procurement software solution

In addition to being cloud-native, GEP SMART supports medium- to large-sized organizations. Inventory control, spending analysis, simple buying, expense tracking, and master data management are just a few of the sophisticated features available.

Manufacturers, energy and utilities, hospitality, financial services, consumer packaged goods, and retail are just a few of the industries that it supports.

Pros

  • Organize key data into a centralized repository, where organizations may introduce additional providers, change relevant information, or allow self-serve options so that suppliers can edit their information.
  • Collaboration enables the creation of standardized quotations and inter proposals across company regions, divisions, and vendors through the use of customizable formats, templates, patterns, and uniform methodologies.
  • Promotes and collects by utilizing channel purchase data as well as other sources such as acquisition cards, customer orders, balances due, and a variety of others.

Cons

  • For supplier onboarding, customers will be charged a fee.
  • Support via live chat is not yet offered.
  • For operations outside the United States, there are few services available.

SAB Ariba procurement software

With SAP Ariba, a virtualized procurement software solution, businesses can communicate with their export markets from wherever they want. It is a wonderful contract administration tool, easy to operate for purchasing, corporate, advertising, and IPs.

It makes the entire process, from conception to renewal, much easier to understand.

Pros

  • Provides users with the ability to automate sourcing lifecycle duties while also assisting them in evaluating market trends and developing a procurement strategy.
  • To take advantage of assisted purchasing capabilities, buyers can cooperate with their suppliers while obtaining estimates.
  • Celonis SAP Process Mining provides AI technology, information workflows, discoveries, and much more.

Cons

  • The SAP Ariba Procurement solutions can not be accessed with a mobile Android application.
  • Entry spreadsheets and the production of advance shipment notices are not supported by the SAP Ariba Supplier.
  • There is no live chat help available.

Kissflow Procurement software solution

It is possible to get creative with Kissflow’s procurement software. Customers, suppliers, sales orders, and a whole lot more can all be managed through its simple-to-use interface.

Kissflow’s easily customizable dashboard design provides greater control over your spending and three-way pairing. Overall, it’s a trustworthy procurement platform to work with.

Pros

  • Increased efficiency has been achieved in the invoice approval process. It is necessary to hold people accountable for their conduct.
  • It helps us stay on budget and obtain answers to purchase order questions as promptly as possible.

Cons 

  • Impossibility of sending reports to a personal email address 
  • Technical difficulties are being addressed slowly. 
  • To wipe out or analyze previous POs, there is currently no way to gain access. 
  • The ability to access information that is more than three months old would be beneficial.

Conclusion 

It is critical to note that any e-procurement solution should remove complexity from your operations rather than adding to them. In numerous ways, successful integration can benefit a supply chain. Therefore, it is important to select the system that is best suited for your needs and requirements.

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