Cloud-Based Procurement Management System

Parameters of Winning Cloud Based Procurement Management System

Control is the final objective of adopting a Cloud-based procurement management system. Using Software as a Service (SAAS) allows procurement executives to exercise meticulous control over every aspect of the procurement process, from creating and processing demands to end receipts and approval payments. 

Operating an on-premise solution gives a company a sense of ownership and security, which explains why many companies still haven’t embraced the all-purpose Cloud-based systems. But cloud computing is such a transformative technology that it can well compensate for the lack of ownership. Below we take a look at a few parameters of a winning Cloud-based procurement system and show you why every company should consider them.



In the age of hyperconnectivity and globalism, remote work has become the rule, and procurement executives are no exception. Using Cloud procurement systems only requires an Internet connection. As such, the e-procurement provider must offer both Android and IOS version mobile apps.


Support is among the most critical parameters of choosing any new system. When selecting a cloud-procurement management system, we should look for a provider that guarantees long-term business development and adequate return of investment. Choosing a system that offers a broad support ecosystem is a vital criterion for both these objectives.  


Every institution has a unique set of demands and requirements. As such, the Cloud-based system you choose must provide a simple and straightforward means for customizing the interface and workflows based on the organization’s routine procurement process.

Integration with Existing Procurement System

Many companies are highly dependent on their existing on-premise procurement and financial Software. When choosing a Cloud-based procurement system, a key consideration should be exporting and integrating existing data structures into the Cloud (information such as supplier contacts, catalog information, employee data, and hierarchies).


These parameters are a good starting point for any company, but the optimal system’s evaluation should not be limited to these points alone. It’s always a good idea to build your requirement list and review them one by one with your Cloud-based procurement system provider to guarantee all your demands are addressed.We are ready to share our experience and professional tips with you. Contact us today, and we will be happy to guide you on your journey toward having a winning cloud-based procurement management system.



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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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