In the a previous article in our series on Procurement Software, we discussed how this type of program has now become an indispensable part of any organization’s procurement process, as well as a necessary tool for the organization’s supply chain manager. However, not all procurement software is created equally and there are key features that anyone looking to employ such software should be aware of. Let’s take a look together at 3 More Traits of Promising Procurement Software.
As with most functions, order management goes hand-in-hand with contract management and data analytics. However, it is integral that this particular function be well-developed in its own right, as this has a much broader reach in regard to its close connection with your supply chain manager’s direct acquisition.
The software’s order management function oversees your organization’s entire selection of products that are needed to keep operations sustainable. As such, a successful software will provide your supply chain manager (as well as anyone else authorized, but that’s a matter for another list) a complete, detailed, and fully up-to-date catalog of all available products. Providing this centralized feature will greatly reduce the supply chain manager’s workload and expedite the entire procurement process.
Inventory and Asset Management
Similar to order management, your software’s inventory management works by keeping a complete record of all products. The key difference here is that these will be products that are, are soon to be, or have recently left your company’s possession.
Proper inventory management functions in procurement software will not only assist in organizational duties in regards to all of your assets, but will integrate your organization’s own policies into its settings. Using these customized settings, the procurement software can begin automating the organizational processes, along with requesting approvals and notifications on any products flagged for such features.
You might expect this to be a given in software as crucial to a business’ operation as e-procurement, however, a good number are quite lacking in the comprehensiveness of their helpdesk feature. Not only should a proper procurement software have a number of self-service fixes built directly into the local software, but there should also be quick & easy access to web-based troubleshooting as well.
Of course, the best procurement software will have a live support feature for when an issue might be unresolvable by the means of the local supply chain manager. Given how deeply-rooted into company operations any such procurement software will become, it is imperative that your supply chain manager, and likely others with proper knowledge, examine the reputation of the software, any issues that might have occurred in the past (both at your organization and with the procurement software), and its reputation for support at both a local and web-based level.
Find Sourcing Partners at TraDove
While automation in sourcing will ease all aspects of the supply chain, finding those trading partners who are the perfect fit is just as important. That is why buyers and sellers from industries all around the world are using TraDove Business Network and its reliable selection of professionals. Each member goes through a multi-stage membership approval system to ensure their legitimacy for the network before they are ever allowed to begin making trade deals. This helps to protect our existing member base and encourage honest and transparent business around the world.