Should I Be an Expert to Use a Cloud-Based Procurement Platform?

Procurement software
How to become an Expert to Use a Cloud-Based Procurement Platform

Whether you’re an entrepreneur, a CEO, or someone with a connection to the business world, you’ve probably heard of cloud-based procurement. Cloud-based procurement is the recent manifestation of e-commerce that allows businesses to streamline their operation cycle and automate their transactions.

However, as shocking as it may appear, numerous businesses today still rely on manual procurement due to lacking confidence. Simply, they don’t believe they have the expertise to utilize a cloud-based procurement system. 

Hence, their procurement mechanisms remain stagnated while the rest of their enterprise continues to improve and develop. However, it’s a misconception. It actually isn’t that hard to use. Why? Here below are three reasons.

Reason #1: Ease of Use

User-friendliness is the number one reason why many businesses use cloud-based solutions for everyday tasks and routine upgrades. You can easily create a smooth workflow, manage parallel processes and handle workloads with a simple A, B, C, D procedure.

Utilizing a simple yet flexible platform, you can accelerate the time-to-market cycle and tailor any strategy or product category to your short-term goals. Therefore, no costly upgrades are necessary to meet the ever-growing demands of the market.

Reason #2: Collaborative Environment

With legacy systems, accessing catalogs and product categories, managing permissions, and processing orders require significant time, expertise, and personnel.

The automatic nature of cloud-based solutions takes the burden off the shoulders of companies and, in fact, lowers the need for expertise. It allows information to seamlessly flow through different departments and shortens the decision-making process and turnaround times!

Reason #3: Unified Platform

The siloed nature of manual procurement systems forces employees to keep separate records and documents, making it difficult to get a unified view of all pieces of information. Instead of dealing with data inconsistencies and painful delays, cloud-based solutions allow personnel to effortlessly store all data in one place.

Consequently, instead of extracting data from various places and integrating them into one centralized location, anyone involved in the process (at any level of expertise) can effortlessly acquire a comprehensive view of all data, stats, indicators, etc.

Bottom Line

Contrary to assumptions, companies don’t require much expertise to use a cloud-based procurement system. The truth is the user-friendly, collaborative nature of such platforms breaks down many barriers. It moreover allows the system to take on many specialized tasks that otherwise would’ve required adding skilled personnel to the team.Luckily Penny provides several cloud-based procurement systems that can take a significant burden off your shoulders. Please contact us right away and let us take it from here.



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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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