E-Procurement in the Textile Industry: How it Can Help
It’s not unusual to buy a T-shirt in the United States only to find out it was created in Malaysia, Vietnam, or another faraway country. It was a difficult task in and of itself to get that item of clothing to the North American market. Furthermore, obtaining the materials required to create the product was […]
Top Five Benefits Of E-Procurement & Cloud-Based Computing
In the past, companies had to download & install several programs on a physical server or computer to handle procurement and data management. But now, e-procurement solutions have seamlessly integrated all the siloed data, and cloud computing allows people to access unlimited sources of information through the internet. In fact, it’s impossible to list all […]
Connection Between mid-market Companies and E-Procurement
All companies regularly deal with procurement, but not on the same level. A large international business needs to manage global purchases, meaning its procurement budget and strategy are tailored to meet that need. But, a mid-market company doesn’t need the same level of service provision to the customer. That’s why e-procurement has become such a popular […]
Top Essential Capabilities for Cloud-Based Procurement System
Procurement plays a vital role in every step of the operation cycle. Without a reliable procurement solution, a business may lose control and compromise its relationship with buyers and suppliers. Moreover, all companies need to keep up with the constant demand changes in the market. That’s why so many have shifted towards using cloud-based procurement […]
How Procure-To-Pay Process Flow Works
All businesses require a reliable process for purchase management, spend analysis, cash flow control, and income maximization. To do so, the company needs to go through a series of steps collectively called the procure-to-pay process. It is a multi-step process that includes procurement, order management, and accounts payable. However, many are unsure what a procure-to-process […]
How Efficient Cloud-Based Procurement Systems Improve Buyer-Seller Relationships
Some people believe that capital is everything for starting a business. But, in reality, that’s only one of the key ingredients because companies aren’t truly tested until they go operational. As you already know, hardly any business can find solid ground and achieve new heights without a good buyer-seller relationship. Without a good relationship between […]
Components Of Cloud Based Procurement Software
In today’s market, it’s almost impossible for businesses to survive without using tech tools in every aspect of their operation. It’s not unreasonable to think that a considerable fraction of all business data and activities will move over to the cloud. A prime example is the integration of cloud-based procurement software, which leverages the power […]
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 […]
