#procuretopaytools

When your procurement cycle feels like a real pain, it's time to take action.

Keep all the company spending in view and on control by automating your procurement processes.

Automating your complex procurement workflows so you can get better visibility over what your buyers are doing, controlling how much they are buying, who was awarded the contract, when the delivery date is scheduled for, tracking suppliers and invoices for each deal, etc.

Using easy-to-use cloud based procurement software, you can create rules and automation or white-listed searches to manage your spending, send special requests for quotes (RFQs), get reports from every deal created by buyers on your internal system (who got what, when did they buy it – very useful for deal analysis), even set budgets and approvals for specific vendors or items.

TYASuite procurement management software is based on a simple premise – to be able to spend less time managing procurement and spend more time doing the things that really count.

Our procurement automation software integrates seamlessly, so you can easily track who bought what, why and when. Plus, it does not require any new hardware or infrastructure for setup or maintenance, so it's easy to implement. Just log in, plug into your existing ERP and start saving today!

Because of spending issues, delayed invoicing, bad record keeping and long and hard-to-get approvals, companies lose time, money and their competitive edge.

The purchasing process is cumbersome and full of painful moments: orders are lost, payments are slow, orders are suboptimal and employees have to attend multiple meetings in order to gain any kind of approval.

And sometimes it may cost you more than the additional stress.

You need a flexible cloud procurement software solution that allows for growth but offers automation for every step of your procurement processes now.

Learn about how TYASuite can help you get back on track with procurement automation software. With cloud-based automated procurement software, comprehensive purchasing functionality is practically stress-free. With a unified, cloud-based platform that supports an array of workflows and user roles, these organizations witness substantial cost savings in procurement and AP departments.

TYASuite cloud-based procurement automation software optimizes purchase requests and goods/services ordering.

Increases employee efficiency through the elimination of redundant work and manual data entry; notifies procurement staff of scheduling and auditing requirements; increase revenue by providing more customization options.

Procurement excellence is a far-off dream for most procurement professionals. Even the ones with years of experience who are highly ranked in their companies still have a long way to go before they can call themselves ‘getting there’, or even ‘good enough’.

The procurement landscape has changed dramatically since the start of e-commerce. Technology has advanced rapidly, and the ways in which companies procure products and services have transformed.

Procurement software tools are what is needed for your business – no matter how big or small.

The first step to determine which procurement automation software is right for your business is to assess your needs and goals. Your goals will determine which features you want and how they work together. For example, if you want to increase efficiency with an automated purchasing process, then an ERP solution will help you do so.

As we all know that procure to pay software is the best when it comes to automating the mundane tasks. These tasks revolve around supply chain related to purchasing, sourcing, invoicing and communicating between the stakeholders.

So here comes the golden question… 

Which is the best procure to pay software for my company 

A software like TYASuite which drives efficiency and performance, specifically to streamline and automate the entire procurement or supply chain cycle, is the most well-matched software for your organization. 

Let’s have a quick look at few procurement software tools which your procure to pay software should have:

1.    Automation: this is the very reason for you to look out for a cloud procurement software. With automation things will move at a better pace setting in efficiency and control over the entire supply chain.

2.    Awesome reporting tools: modern procure to pay software comes with an inbuilt feature of quick reporting. With TYASuite it’s just a matter of click and you have the entire company’s report which will guide you for making better decisions.

3.    Ease of approval: the buying and selling process goes through many complex approval chains. With TYASuite these approvals can be given from any device while the approver is on the go!

We all know that Procurement as a function is at the heart of the supply chain and aids the growth of any organization. Procurement software eases the entire function and digitally eases the process. 

Procure to Pay suite can centralize the information which the entire organization, specially the supply and purchase sides benefits from, resulting in faster movement of goods and services.

Procurement software enables to:

·       Create Purchase orders

·       Receive and match order to invoice

·       Support financial settlements for goods or services bought.

·       Standardizes the entire process.

Benefits of eprocurement software

 1.         Reduction of costs: since procurement is done at the best price and quality cost benefit is at the center of procurement function.

2.         Improved efficiency: with procurement software the automated process saves hours of work which results in huge savings.

3.         Standardized workflow: with procure to pay software the entire process is in a structured flow making efficient use of resources as well as tools.

4.         Government regulations: with procurement automation software tax calculations can be done in a jiffy. The software is inbuilt for this and a company need not waste time in this.

Words like cloud computing, modern technology and analytics have become very common for the modern businessmen. These are few of the tools which keeps an organization function efficiently and in full swing. The real question remains do they really work. Well, let’s quickly have an overview of procurement software tools and how they improve the lives and balance sheet of a company.

Below are few procurement tools which every company should have:

 1.    Smart billing and invoicing

A company which wants to grow will always cut down on the vendor payments or activities which do not add value to. For example vendor payment can be handled digitally giving space for other activities.

2.    Tracking

Procure to pay solutions will always have the feature to locate goods or services or track their movement.  

3.    Transparency

Cloud procurement software will bring in transparency in all the processes and efficiently use resources. Due to transparency issues or problems can be rooted out easily.

 4.    Ease of use

Procurement software tools will always have a friendly user interface and will not have any complex functionalities.

5.    Robust reporting

Best businesses decisions are built data. An efficient Eprocurement software will always have a robust reporting which business owners can have easy access to.

We know that for most of the companies opting for cloud procurement software might seem expensive. That’s the time when these companies which often try saving money end up for lesser quality software which does not suit their business.

What’s the lesson learnt? Though in the long term these companies suffer through lower efficiency and financial losses, it might be difficult for the company to bounce back completely.

Procurement is one of the most tedious and time-consuming process for any business owner.  For setting up a hassle free process all you need is a leading procurement software.

Features of cloud procurement software:

Cloud procurement software is a one stop solution which automates and streamlines the buying process.

Below are few features of cloud procurement software:

1.     Manage vendors or suppliers under one roof

With procurement automation software, managing all your vendors becomes an easy task.  Vendor onboarding, invoice management and finding the right vendor in the market becomes easy with procure to pay software. Cost optimization makes it easy to decide the best vendor and at reasonable price.

2.     Easy invoice management

Cloud procurement software over rides the manual procurement invoicing and the business adopting the digital solution immediately knows the impact of this. The paper invoices are replaced by digital records bringing transparency and efficiency.    

3.     Stronger bond with suppliers

With a transparent system, it becomes very easy to gauge a supplier’s performance and gain insights into their role and efficiency. Through supplier profiling a business owner can get a birds view and take informed business decisions.

4.     Efficient inventory management system

With complex supply chains it is important to have a robust inventory based on transparency. With procure to pay suite companies get the efficiency they need in order to run the business.

Ever imagined how huge companies procure large quantities of goods and still crack a deal and be profitable? These companies do not focus on time consuming tasks but they harness technology to stay ahead in the race. They use procure to pay software to streamline the entire cycle of procurement.

Procurement, which is the act of buying of goods or services by a company has grown into a full fledge activity of tracking and selecting the right tools in order to be profitable. Procurement management software has successfully redefined the entire P2Pprocess, right from procurement to payment to the vendors.

Now let’s move ahead and understand more about custom procurement management software.  

We all know that anything customized means tailor made to suit the exact needs. Similarly, when we say customizing procure to pay software; it is all about knowing the features of procurement management software and how closely it matches with your needs.

Below are few features of procure to pay software which are best suited for your organization:

1.     Smart Purchase Requisition (PR) and Purchase Order (PO)

Purchase Requisition and Purchase Order are at the core of the procurement cycle. While purchase requisition is received by your department for ordering the required goods, a purchase order will need to be raised with the vendor. Procurement management software makes this entire process seamless.

For Purchase Requisition, the Procure to pay software comes with features like raising bulk PRs, optimize PR based on stock levels and setting up of multiple PR based on company specific rules.

Similarlyfor purchase order, procurement software automates recurring orders, it comes with an option to raise multi-vendor PO’s and accept order even in multiple trenches.    

2.     Vendor payment ecosystem

In the procurement payment cycle vendors are the immediate parties to whom regular payments need to be made. Your procurement software tool comes with ready features like payments to multiple invoices with a single click, real time notifications for payment dues, automate intimation to vendors via procure to pay software. Thusprocurement management softwaremakes the entire process user friendly and helps in maintaining relations with various stakeholders.

3.     Real time reports

With procurement management software, business decisions can be taken accurately. In-depth, precise and customized reports facilitate intelligent decisions while maintaining an eye on the future. These procurement software tools have helped many companies gain insight into the various business patterns and work their way upwards towards generating decent profits.