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ERP systems have some challenges when it comes to managing vendor spend. The limitations are many but primarily ERPs are built for accountants not procurement and they are very difficult for use.
Expenzing Procurement Manager is a cloud based procurement software that is extremely easy to use by everyone involved in procurement. It optimizes procurement by enforcing process and having stringent controls that uphold the delegation of authority matrix and prevent maverick spending.
Scroll up to see the widely varied nature of organizational spending. Clearly such purchases are initiated by a diverse group of employees spread across functions, departments, and locations. Expenzing Procurement Manager is a ready to use procurement software which brings these employees onto one system and makes it easy for them to create purchase requisitions.
Expenzing Procurement Manager has a powerful workflow configurator to set up the rules for routing once a purchase requisition is created. Approvals of PRs and POs follow predefined routes dependent on value of the purchase and role of the purchaser.This procurement management software allows quick approvals that are comprehensive or for a subset of line items, so that decisions that need further discussion do not hold up those that do not.
Procurement team can examine purchase requisitions and club them with other similar requirements to get the benefit of clubbed purchases. They have a database of vendors with nominal rates to use as a starting point. And the 360 degree view of POs helps track advances paid to vendors even against multiple POs to quickly close advances.