Purchasing software: Difference between revisions
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'''Purchasing software''' is [[business software]] that helps automate and streamline the purchasing function of organizations. Features of purchasing software include electronic [[purchase order]] creation, purchase order approval, invoice matching and budget visibility and control, amongst others. The key benefit for organizations using purchasing software are: cost savings, time savings, better financial awareness, and better purchasing records, as all purchasing done with a purchasing software system is recorded. |
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Purchasing software also allows purchasing or procurement managers to establish a pre-defined group of vendors to be used by employees. By establishing a specific group of vendors, organizations are able to take advantage of benefits such as pre-negotiated rates. |
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Purchasing software can be industry specific or marketed generally. Purchasing software can be installed in two ways: on-premises or using [[cloud technology]]. Typically, older technologies or legacy systems are installed on-premises, while newer technology companies use [[Software as a service]] [[cloud technology]]. |
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Popular legacy systems include [[SAP SE|SAP]] and [[Oracle Corporation|Oracle]]. Companies such as [[Procurify]] and [[Coupa]] are leaders in the cloud purchasing space.<ref>http://blog.procurify.com/2015/07/09/procurify-named-one-of-20-most-promising-procurement-solution-providers-cio-review/</ref>{{Citation needed|date=March 2015}} |
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Both large, multinational firms as well as small- and medium-sized businesses use purchasing software. |
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==References== |
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<references /> |
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[[Category:Business software| ]] |
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[[Category:Supply chain management terms]] |
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Latest revision as of 18:47, 8 August 2017
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