eProcurement Solutions

Penny offers a comprehensive and intelligent cloud-based procurement solution helping businesses streamline their procurement processes, expending resources more wisely by promoting user adoption, supplier engagement, expenditure management, and more.

In an era where the average procurement department only handles 63% of expenditure management, in today's tech-driven world, businesses require cloud procurement processes to fully control their spending, establish communication with suppliers, and optimize their ordering procedures.

Instead of relying on manual, error-prone practices, cloud procurement software can help a company:

Request

The first step is where you issue a purchase order. This would generally be done by email or via the vendor’s website.

Approval

After receiving the PO, the vendor provides the approval, rejection, or reopens the negotiation process.

Purchase

Once the buyer receives the vendor’s confirmation, they’ll create and send out the finalized purchase order to the vendor.

Receive

Now, the vendor dispatches the goods (or service) from their end to the buyer for verification.

Match & Pay

The buyer verifies whether the quality and specifications are in line with previous discussions. If the buyer is satisfied with the order, the invoice will be processed, and the payment will be made.

Why Penny for eProcurement Software

With such a vast range of cloud-based procurement solutions on the market, it’s crucial to find one that’s both affordable and flexible enough to meet specific requirements.

Powerful, user-friendly e-sourcing, cloud-based procurement, and procure-to-pay Saas solutions for companies intent on automating their procurement procedures, improving expenditure management, reducing processing costs, and promoting supplier collaboration.

Penny’s solutions are so simple and intuitive that businesses deploy them not just out of necessity but because they happen to offer the shortest route toward achieving their objectives.

Manage your spend, manage your business

Procurement departments with obsolete solutions cannot clearly oversee their procurement process or limit rogue spending. Penny’s e-sourcing and procure-to-pay software can help you handle everything from getting order approvals, customizing budgets, designing procurement processes and making well-informed decisions in one single comprehensive solution.

Customizable Approvals

Make purchase approvals from one centralized location.

Real-time customizable budgets

Make purchase approvals from one centralized location.

Purchasing Workflows

Create painless procurement processes and regain your time

Vendor/Catalog Insights

Make smarter purchasing and business decisions.

Frequently Asked Questions

Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.

  • Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc 
  • Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.  
  • History and records of requests and purchases can be extracted and tracked easily via the platform. 
  • Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
  • Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
  • penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.

Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.

Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.

Yes. If your product search finds no results, you can submit a non-standard request.

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