PROCUREMENT MANAGEMENT SOLUTION
Control spend, reduce risk, and drive savings to your bottom line
Turn procurement into an agile, strategic business driver
Corcentric’s Procurement Management software solution gives businesses total visibility into all purchasing and sourcing by simplifying the entire procurement workflow. Global supply chains are growing increasingly complex and competitive, and you need a procurement solution that will gain control over spend, risk, and compliance. Expand your capabilities, save time, and streamline every single procurement function by kicking off your digital transformation with Corcentric’s procurement automation software.
Benefits of Corcentric’s E-Procurement software
Unite disparate systems
Does your team struggle to control disparate users, systems, and geographies?
Eliminate manual labor
Are inefficiency and error-prone manual processes limiting spend control?
Strengthen supplier relationships
Is a lack of proper tools and collaboration damaging supplier relationships?
How our online procurement management system works
Catalog Management
Go from catalog to cart more easily,
faster, and with total compliance
Corcentric Catalog Management is an intuitive catalog search experience combined with a familiar online shopping experience. Making it easy for users means keeping purchases on-contract. It’s also simple for suppliers to update and maintain their catalogs in real time, with self-service tools to sync catalogs with contracts.
Requisition Management
Purchasing products and services
has never been easier
Automate the P2P requisitioning process through predefined requisition types and workflows to quickly process purchase requests from business users. Our solution can centralize hundreds of catalogs and millions of items into one single platform with one easy-to-use procurement management software interface.
Purchase Order automation
Replace errors with efficiencies
Experience an automated requisition-to-PO-to-supplier submission workflow that’s audited, validated, and error free with our procurement sourcing software. Automated purchase order creation means never having to guess what format the POs are in or whether they’re accurate. Electronic submission makes the entire purchase order process fast, seamless, and efficient.
Purchasing contract
Simplify spend management against catalogs with our embedded contract process.
A procurement workflow software solution with embedded contract integration simplifies managing against catalogs, tracking usage, and controlling maverick indirect spend. Improved management of blanket contracts allows procurement users to cover a wide range of products and services identified in a contract. Those with permissions can ignore approval workflows for purchase requisitions and POs, and skip the traditional three-way match associated with typical purchases.
Receipt & Dispute Management
Enhance PO matching with authorized users for better flow, reduced costs, and fewer disputes
Ensure purchasing and spend compliance with different types of receiving available for any business situation (over receiving, quantity, partial, percentage receiving, etc.). Set up manual or automated receiving as multi-step receiving, manage goods returns, rate suppliers on receiving, and manage disputes on suppliers, receiving, or invoices — all quickly and simply in our P2P software solution.
Prepare, succeed, repeat:
How CFOs drive innovation
E-procurement FAQs
Procurement management software is a software-as-a-solution SaaS platform that enables an organization to automate its entire purchasing processes, from catalog management to requisitions, purchase orders (PO), invoicing, payments, and more. Also called procure-to-pay (P2P) solutions, these tools replace many, if not most, manual business processes with workflow automation. This eliminates many manual errors, streamlines the purchasing function, helps to increase spend visibility and savings, and mitigates the chance of maverick (off-contract) spend.
There is no single universal model of what constitutes procure-to-pay, but a good working model of the purchasing “lifecycle” starts with catalog management before moving on to purchase requests, contracts, request-for-quotes (RFQ), purchase orders (PO), receipt, e-invoicing, accounts payable (AP), and payments.
A digital automated requisition-to-PO-to-supplier workflow provides an audited and validated process that eliminates any errors caused by manual inputs. With automated PO creation, you always know what format the POs are in, that they’re completed correctly, and exactly where they are in the approval process in real-time.
By embedding the contract creation process directly integrated as part of the procure-to-pay continuum, you greatly simplify the managing of purchases against approved catalogs, pricing, volume, delivery terms, and other contract details. This enables you to better track spend against budgets as well as control maverick (off-contract) spend. What’s more, with certain contract types, you can configure permissions that allow users to ignore approval workflows for requisitions and POs; for instance, if you have repeat or recurring orders on a regular basis.
While most procurement teams have some sort of formalized supplier management structure in place, P2P technology can also play a critical role by simplifying how suppliers can upload and manage catalogs, submit RFQ bids, update certifications and, very important to them, streamline the PO/invoicing/payments process. Anything that makes it easier for suppliers to sell to your organization is considered good supplier relationship management.
Automating with e-invoicing significantly reduces operational costs and increases efficiency while making the entire invoicing process faster, more accurate, and fully compliant. Eliminating manual errors also gives you vastly increased invoicing capability and flexibility by simplifying invoice matching and the identification of matching mode details — how the supplier invoice has been matched and how the invoice has been created. In essence, automation takes any guesswork and delays out of the cycle so the whole process is accelerated, freeing people up to add strategic value or focus on resolving exceptions.
Drive procurement control and agility
“While it offers comparatively attractive pricing to both middle-market and Global 2000 organizations with targeted requirements, (Corcentric)’s capabilities can also make it suitable for larger organizations with unique e-procurement requirements.”
Resources
Related procurement resources
REPORT
ISG Reports: Procurement BPO and Transformation Services 2023
Download the 2023 ISG Provider Lens™ Procurement BPO and Transformation Services Global Reports
REPORT
IDC MarketScape: Worldwide SaaS + Cloud-Enabled Procurement Applications 2023
Corcentric named a Major Player in the procurement applications space in 2023 Procurement IDC MarketScape assessment.
PODCAST
Corcentric Conversations: Bespoke Transformation—Why Success is a One-Size-Fits-One Strategy
Joe Payne and Jennifer Ulrich at Corcentric discuss what it takes to achieve transformative success, and how our approach is comprehensive and unique.
REPORT
ISG Reports: Procurement BPO and Transformation Services 2023
Download the 2023 ISG Provider Lens™ Procurement BPO and Transformation Services Global Reports
REPORT
IDC MarketScape: Worldwide SaaS + Cloud-Enabled Procurement Applications 2023
Corcentric named a Major Player in the procurement applications space in 2023 Procurement IDC MarketScape assessment.
PODCAST
Corcentric Conversations: Bespoke Transformation—Why Success is a One-Size-Fits-One Strategy
Joe Payne and Jennifer Ulrich at Corcentric discuss what it takes to achieve transformative success, and how our approach is comprehensive and unique.