Procurement software platforms administer everything from ordering and paying for goods and services to delivery. Companies can track purchases made by all departments and enforce compliance standards.
For example, an employee might need a new laptop. He or she could go to the store, buy the laptop and submit the invoice to the purchasing department for reimbursement, but such purchases are difficult to track. With a procurement software platform, the purchase would run through an approval workflow and be purchased using the correct supplier contracted to provide that product at a specified price.