Procurement Software Features

Cataloging/Categorization

Create and manage digital catalog of products/services with their details, specification, and price

Contract/License Management

Track, store, and access client/customer contracts

Fixed Asset Management

Centralized database to track details of fixed assets such as depreciation and maintenance scheduling/history

Inventory Management

Track and manage the quantity of resources on hand to maintain proper supply

Invoice Processing

Create, process, execute and manage suppliers invoices till the payment is made

Purchase Order Management

Create, send, and track purchase orders and their statuses

Receiving/Putaway Management

Manage process from initial receipt of a load to when it is stocked in its final destination within a warehouse

Requisition Management

Review, approve and cancel requests for goods/services to be purchased

Sourcing Management

Negotiate best prices and choose the right vendor for various purchases

Spend Management

Track the amount of money spent on a certain product or with a certain supplier

Supplier Management

Manage various aspects of the relationship with suppliers (e.g. interactions, history)

Related to Procurement Software