How to find the best procurement software

Must read points before you head on to procurement software purchase:

1) Focus not just on KPIs but meaningful procurement KPIs - The best procurement to pay software for you is the one that has the feature set that aligns with your business domain. More than the mundane tasks, see if the software surfaces the data on how your next purchasing decision will impact not only your procurement pipeline but also your near and far business goals. There may be many procurement software that claims real-time information sharing and automated workflow. But you didn't buy that software to transport 'grass' (misleading KPIs).

2) Grade your vendors and communicate often with them - Being at the core of procurement to pay process, vendor management cannot remain a checkbox. It has to be nuanced and granular. The procurement software has to not only surface how various vendors are performing based on the KPIs but also nudge them to outperform themselves. You can do this by directing them toward aspects that you want them to focus on.

Get to know about the TYASuite Plug and Play Procurement Software solution that automates the entire spend management life cycle from forecast, approval, procurement, vendor rating, purchasing, fulfillment, and invoice management.