Procurement management is the process by which an organization oversees the acquisition of goods and services. Procurement management includes identifying the requirements for a project, vendor registration and selection, managing bids, negotiating, contracting, and performance monitoring.
The main purpose of procurement management is to help organizations monitor spending and create strong supplier relationships while tracking and reporting on transactional activities with external sources. Procurement management improves process efficiency by assisting a team in tracking the purchasing of goods and services by identifying potential vendors, managing bids and supplier payments, and maintaining all necessary documentation. Procurement Software can be beneficial to help an organization manage this process.
Procurement management software is a suite of tools that automates and supports an organization’s purchasing process, allowing all outreach, spend tracking, and reporting to be initiated and managed from a centralized location. It combines the power of online vendor registration, bidding management, and utilization planning to automate and streamline the entire procurement. Procurement Construction Management Software, ideal for public and private sector organizations, combines the power of online vendor registration bidding management and utilization planning to automate and streamline the entire procurement process, creating efficiency.
Procurement management software automates and simplifies the procurement process, saving an organization time and money while reducing errors and eliminating paperwork.
Organizations investing in procurement software are interested in increased productivity, controlling expenditures, reducing external costs, and improving overall process efficiency.
B2Gnow’s Online Procurement Suite combines the power of online vendor registration, bidding management, utilization planning, and insurance management to automate and streamline the entire procurement process – at a fraction of the cost. Ideal for public and private sector organizations, B2Gnow’s Online Procurement Suite offers the largest certified supplier database in the world. Over one million vendors regularly access our system to register, prequalify, certify, submit compliance-payment-sales reports, review bid solicitations, manage workforce/EEO data, and initiate entire lifecycle granting workflows. Connection to the certified database ensures that organizations with supplier diversity programs can easily source and track certified vendors to meet their goals. The result is a turn-key procurement solution already leveraged by over 95% of vendors.
Yes! B2Gnow has successfully interfaced with over 100 third-party systems in past implementations.
Many helpful features are available in most procurement software systems to assist organizations with tracking the purchasing of goods and services by identifying potential vendors, managing bids and supplier payments, and maintaining all necessary documentation. Another feature to look for is the ability to source and track certified diverse vendors within the procurement system. Look for software, like B2Gnow, that will enable inclusive procurement by helping organizations to reach their supplier diversity goals.
Over 90 full-time staff are standing by to support you, many of whom had previous careers managing diversity programs like yours.
Industry leading technology and security supports world-class availability, reliability, and redundancy for zero data loss.
The most widely implemented diversity management system across both public sector agencies and corporations.
Schedule a personalized demo today