Penny Software raises $5M in Seed Round Amid Global Expansion
A B2B platform with a mission to digitize procurement globally. Riyadh, Saudi Arabia. Jan 17th, 2022: Penny Software, the procurement enterprise software company raised $5M in a seed round led by Outliers Venture Capital, and with participation from Shorooq Partners, Hambro Perks ORYX Fund, Wamda, Class 5 Global, and strategic angel investors. Penny was founded […]
Data & Analytics, Cores of a Cloud-Based Procurement System
Procurement departments can access, manage, and sort through a wealth of essential data in their day-to-day operations. Still, not many can capture all this information, let alone make it into something meaningful. Unlike traditional procurement systems, data is a key to survival in the modern market. Today, businesses utilize a data-driven procurement system to solve […]
Comparing Cloud-Based Procurement Management Systems & Selecting the Best
For businesses of all sizes and industries, it’s a tough and time-consuming process to select an efficient cloud-based procurement system. Similar to crossing a minefield, a tiny misstep can translate into a crisis like revenue loss, customer attrition, and legal entanglements. There are a wide range of solutions and techs, each with unique deployment, customizability, scalability, […]
Efficient Cloud-Based Procurement Platform
With the incredible pace of advancements in today’s market, businesses have no choice but to incorporate automated solutions into multiple areas of their operation. One of these areas is procurement management, which involves evaluating, selecting, and managing contracts and supplier relationships. While some businesses have embraced a cloud-based solution to their procurement management problem, others […]
E-Commerce & E-Procurement: What Are They And How They Differ
As technology in all its forms, including e-procurement, is helping us streamline many back-office operations, we’re witnessing new concepts and models emerge in the digital era. They take root so quickly that we don’t get the chance to fully understand what they mean, even though we’ve heard about them repeatedly. E-commerce and e-procurement are the […]
Should I Be 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 […]
How to Transition from a Traditional Procurement Platform to a Cloud-Based One
We’re way past the old days when paper invoices and receipts got lost. The arrival of cloud-based technologies has started a new chapter in procurement and has changed businesses for the better. Today, companies can organize and manage their pricing, choose the most suitable suppliers, decrease manual transactions, and naturally lower error rates. Despite these […]
How Can Efficient Cloud-Based Procurement Platforms Save Time & Money?
Since cloud-based procurement solutions are becoming prevalent, some businesses may be on the fence about utilizing them. In addition, companies with established infrastructures may not see the benefits of a cloud-based procurement system. Regardless of the depth and range of their operation, a cloud-based solution can help them cut down costs and save time in […]
How Does A Cloud-Based Procurement Management Software Work?
With the eventual extinction of manual procurement, cloud based procurement management software importance is becoming ever more evident. However, many chief procurement executives are hesitant to adopt these systems at first glance because they appear to be not very intuitive to work with. That, however, is an outright mistaken perception. The Basics of a Cloud […]
