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5 Considerations When Choosing a Procurement Software

Posted: March 1, 2023 at 9:39 am / by / comments (0)

Investing in procurement software is a smart business move. Its features improve your procurement management, ensuring that all processes and projects proceed efficiently. But since there is plenty of procurement software available today, do you know which to choose?

Remember, there are always two sides to the coin — and investing in the wrong procurement software puts your resources down the drain and impedes your business’s growth and success.

Source: Unsplash

Ensure that your business gets to enjoy the best procurement software by looking into the following factors when choosing:

  • Quality of Customer Service

Integrating procurement software in your business requires adjustment, and you’ll need all the help you can get to make the transition easier. How can you maximize the software if you’re always stuck looking for a specific feature?

It’s important to have someone reliable to contact in case you experience issues with the software. Having access to excellent customer support will be valuable during critical situations and saves you from inconveniences and downtimes.

Let’s cite, for example, ProcureDesk and Planergy. These are two of the most commonly used procurement software today, but ProcureDesk stands out because it offers better customer service available in various channels, such as phone and web services.

  • Reliability

The market is bombarded with countless software vendors, almost all using innovative marketing strategies to haul in customers. However, keep in mind that the vendor offering the newest software or paying the biggest billboard isn’t always the most reliable.

Pay attention to the reliability of the procurement software itself and the company behind it. The software should be functional, and its maker should be trustworthy. Most importantly, the software should come with strong security features, so you don’t have to constantly worry about losing any data or documents the moment you use it in your business.

Take as much time as you need to learn about the procurement software by checking its site. Don’t forget to read online reviews to determine how the software performs once installed.

  • Scalability

Comparing several procurement software and looking into their features is time-consuming. Make sure that you won’t see yourself in the same situation in the future by looking into the scalability of the software you’re eyeing to use.

The procurement software should scale as your business grows. For instance, it should offer a cost-effective pricing model that allows you to add users at any point. Additionally, the software should also automate internal controls to mitigate risks during large-scale or extensive procurement processes. These controls should include the following:

  • Budget management and controls
  • Multi-level approval routing and automated workflows
  • Policy compliance management
  • Real-time app alerts and email notifications

These features allow procurement managers or other parties to monitor company-wide spending behaviors no matter the rate or speed of the business’s growth. This leads to a more comprehensive and optimized system using the same procurement software.

  • Accessibility and Ease of Use

Accessibility and ease of use are often overlooked when choosing a procurement software. These two are crucial for driving healthy technology levels across different levels of your business.

Ideally, your procurement software should have an intuitive interface that’s easy to use and navigate. Assess if the software allows users to easily create and submit requisitions or claims from any device and location. It should also allow configurations that only permit certain users to access sensitive data or perform certain actions.

A procurement software that requires minimal user training will help non in the business adapt to the technology.

  • Adaptability to Business Needs

Many procurement software offers a plethora of functions. In general, being able to use countless features sounds great, but do these features suit your business’s needs?

Choose procurement software with features that tailor to your business’s needs. For instance, if your business relies on third-party APIs, look for a procurement software that offers seamless integration. In this way, you can continue to use different APIs while providing more value to your chosen procurement software.

Investing in procurement software tailored-fit to your business’s needs will make it easier for everyone to adapt. Plus, it guarantees improvement in your business’s operations.

Knowledge is Power

Procurement software is a powerful tool, so choose carefully. Avoid making rash decisions, as this can only cause bigger problems, which can significantly hurt your business.

Consider essential factors when choosing your business’s next (or first) procurement software. Being well-equipped with this information can become key to finding and using the best software for your business!

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