Procurement Software Research
Today’s B2B procurement professional delivers value to an organization that extends far beyond buying goods at low prices. The process also involves measuring the need for a product, locating the appropriate supplier, negotiating with the supplier for the best price, and effectively purchasing and receiving the item. Modern procurement professionals commonly control all functions relating to:
• Supplier identification
• Sourcing
• Contract negotiation
• Acquisition
• Logistics management
• Supplier relations
Procurement Pain Points
Our procurement survey results have shown a lack of connection between procurement and AP, as well as a dependency on paper based transactions. eProcurement solutions fix manual-method problems by syncing AP and Procurement, eliminating paper POs and payments, and speeding up the entire process to facilitate dynamic discounts and healthier vendor interaction.
Choosing eProcurement Software Wisely
Today’s procurement software puts the negotiating power firmly in the hands of procurement professionals. However, there are a range of solutions available with very diverse functionalities. PayStream Advisors works to assist professionals in choosing solutions that will drive stronger connectivity and success within their organizations. Our analysts stay abreast of market trends in eProcurement, as well as the solutions available to promote visibility, connectivity, and control.
We consider 4 core attributes when evaluating each solution, including:
• Requisition Management
• Catalogs and Purchase-to-ERP Integration
• Approval Workflow and Purchasing Controls
• PO Receipt and Reconciliation
Procurement Tools and Education
PayStream Advisors provides Procurement professionals with objective, authoritative research to guide them in their search for automation solutions. Our ultimate goal is to provide procurement change agents with the resources they need to transform processes at their organizations. These include:
• Research Reports
• Educational Webcasts
• Case Studies, Articles, & Infographs
• ROI & TCO (Total Cost of Ownership) Calculators
• In-Depth Video Reviews
Our research is available on demand for our members and membership is completely free.
