Last updated June 5th 2024

What is Procurement and Purchasing? The Complete 2025 Guide

Automate procurement for cost reduction and improved supplier ties.

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What is Procurement and Purchasing?

Manage procurement and purchasing processes more effectively by automating tasks like vendor selection, contract management, and invoice processing, enabling businesses to reduce costs, improve supplier relationships, and minimize risks associated with procurement.

Products for Procurement and Purchasing

We’ve listed the products and solutions that commonly address the Procurement and Purchasing use case below.

Sage Business Cloud X3 logo

An advanced ERP solution for larger enterprises, offering finance, supply chain, and manufacturing management features.

PeopleSoft logo

An Oracle product that provides comprehensive business and industry solutions, including human capital management, financial management, and supply chain management.

SAP Business One logo

A comprehensive, scalable ERP solution designed for small to mid-sized businesses, offering financial, sales, and operational management capabilities.

Netsuite ERP logo

A comprehensive cloud-based ERP solution for businesses, offering finance, supply chain, HR, and procurement features.

Epicor Kinetic logo

A flexible, cloud-based ERP platform designed for manufacturing, distribution, and services industries, offering end-to-end business process management.

Oracle Fusion Cloud ERP logo

A complete and integrated cloud-based ERP suite, providing financial, procurement, and risk management solutions for businesses.

QAD Adaptive ERP logo

A cloud-based ERP solution for manufacturing companies, providing capabilities for finance, supply chain, customer management, and manufacturing execution.

IFS Cloud ERP logo

A comprehensive ERP solution that provides businesses with tools for finance, HR, manufacturing, supply chain management, and other core functions.

Infor CloudSuite logo

A suite of industry-specific, cloud-based ERP solutions that offer financial, supply chain, and human capital management features.

SAP S/4HANA ERP logo

A next-generation, intelligent ERP suite built on the SAP HANA in-memory platform, offering real-time analytics and automation capabilities.

Dynamics 365 logo

A suite of intelligent business applications from Microsoft, including ERP, CRM, and AI-driven insights to optimize business processes.

Sage 300 logo

A modular, adaptable ERP solution for small to mid-sized businesses, offering financial, inventory, and operational management capabilities.

SAP Business ByDesign logo

A cloud-based ERP solution for mid-market companies and subsidiaries, offering end-to-end business process management and integration.

Procurement and Purchasing Features

Customize these feature priorities in Taloflow and get expert ratings for 15 different vendors and solutions, including None.

Feature Dimensions Description Priority
Invoice Processing
  • Finance and Accounting
Support version control, testing, data transfer, customization, and workflow definition. Critical
Budget Planning and Control
  • Finance and Accounting
Manage inventory levels, predict demand, track product lots and warehouse inventory, and create item categories. Important
Cost Accounting
  • Finance and Accounting
Manage multiple locations and transfers, generate reports, and track item lists and counts. Important
Data Encryption
Secure data with encryption in transit or when stored in the cloud. Important
Event-Based Integration
  • Integration
Support available for pushing events to downstream systems. Important
Exchange Rate Integration
  • Finance and Accounting
List employees, track time and expenses against projects, and support collaboration. Important
Multi-factor Authentication
  • Security
Support available for customers to add an extra security step to the authentication process. Important
Rest API Integration
  • Integration
Support available for integration using REST APIs. Important
Role-based Access Control
  • Security
Support available for defining custom user roles and associated permissions. Important
CCPA
  • Compliance
Regulation on data protection and privacy of the data tied to residents of California. Nice To Have
Data Masking
Secure sensitive data by permanently replacing sensitive data with fictitious yet realistic-looking data. Nice To Have
GDPR
  • Compliance
Regulation on data protection and privacy of the data tied to citizens and residents of EU countries. Nice To Have
Evaluating solutions?
Work with Taloflow's technology selection platform containing tens of thousands of up-to-date vendor data points in dozens of categories to:
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Filter solutions based on your priorities
Evaluate vendors for your exact use case
Get my free report
takes 5 minutes

Disclaimer

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