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Procurement Technology Overview


Procurement Technology Overview

Care Tech Guide
What is it?

A procurement system is software used to manage buying goods and services. It handles sourcing, quotes, purchase orders, deliveries, invoices, and compliance with purchasing policies. These systems streamline and automate aspects of the procurement process, making it easier, more efficient and cost effective for care providers to manage purchasing activities.

How does it work?

Procurement software improves efficiency, accuracy, and transparency in the procurement process, enabling organisations to make informed decisions, control costs, and maintain supplier relationships effectively. Procurement software supports collaboration between departments by providing insights into contracts and spending which promotes compliance and informed decision making. The specific functionalities and features of procurement software may vary depending on the software provider and the organisation’s requirements.

What did people do before?

Before procurement systems, organisations relied on manual processes for purchasing. This involved paperwork, physical documentation, and often time-consuming procedures to manage supplier relationships, process orders, and handle invoices. Communication and collaboration between departments and suppliers were more challenging, and tracking spending or compliance adherence was less systematic and more prone to errors.

Top Benefits

Time Savings

Efficient Budget Management

Cost Savings

To read more about Procurement software, check out our benefits and overview articles.