5 Key Procurement Features Your Business Needs

5 Key Procurement Features Your Business Needs

Procurement and inventory management is an essential part of any business. Procuring resources and managing stock levels are daily tasks that need to be completed with precision, utilising effective software guarantees accuracy. There are multiple features that are included in procurement software, but there are a few key features that any business needs. 

5 Key features:

  1. Contract management:

Supplier management is a key aspect of procurement management. Finding suppliers, and building relationships, offers businesses the ability to ensure quality and quantity. Finance Apps offers businesses the opportunity to upload all supplier contracts for quick access to establish good relationships with suppliers. Manage your supplier and guarantee both quantity and quality in products with on-the-go access.

Contract management guarantees effective access to all supplier contracts that include all details. Manage your suppliers and renew contracts on-time with an accessible feature. Finance Apps ensures businesses have consistent access to all past and present contracts for accurate service delivery from suppliers.

2. Wastage detection:

Product wastage occurs within any organisation. Utilising software that helps any organisation detect any stock or product wastage is beneficial for cost and time saving. Finance Apps offers business with analytical software that fast tracks the detection of any stock or product wastage.

Finance Apps empowers business with the ability to implement effective solutions that minimise any wastage. Detect, minimise and save costs with innovative technology that allows businesses to monitor any wastage. Wastage is a key procurement feature that allows businesses to manage wastage and their inventory effectively.

3. Stock take:

Inventory management is an essential part of procurement management. Managing accurate stock levels guarantees effective and on-time procurement processes. Finance Apps offers businesses the capability to manage all stock levels effectively and have real-time access to current levels. Empower your business with automated updates as your stock levels are linked to your POS system.

Finance Apps empowers businesses with the ability to do stock take even when your business is offline. Manage your stock in real-time within the ability to take stock even when you have no power or internet connection. Once your device is connected again, your lists will automatically update.  Manage your stock effectively and accurately both online and offline with Finance Apps.

4. Approvals:

Gaining approvals for procurement orders is a tedious and long process. Through Finance Apps, your business can set up a dedicated work flow to ensure that on-time approvals are prompted. Gain a competitive advantage with Finance apps that allows procurement managers and higher ups to give approvals from anywhere at any time.

Discover hassle-free procurement processes with anywhere, any time approvals. Dedicated work flows that provide alert notifications for the users to ensure timely approvals. With quick access to spend analytics, any business can provide approvals based on set par levels, stock take lists and real-time analytics.

5. Documentation:

Procurement management is a process that involves a lot of documentation, from purchase orders to delivery notes. It is important to keep track of all documentation as it ensures that processes are accurate and accurate payment is processed. Finance Apps offers your business the ability to upload all invoices, purchase orders, credit notes and even delivery notes for accurate purchase processes.

Empower your business by creating, uploading and storing all necessary documents in one centralised mobile application. Discover how Finance apps can help your business to eliminate paper based processes for optimal efficiency.

These 5 key features are only a few that are available on Finance Apps. Empower your business today with a centralised mobile procurement and inventory management solution. Enable time and cost savings with on-the-go access to prevent any shortages or overspending. Discover user-friendly software that eliminates paper based processes for optimal capability.