Procurement Management Software is a tool that helps businesses buy supplies, from ordering to paying vendors. It makes the process easier by automating tasks like tracking suppliers, making purchase orders, and handling payments, so managing purchases is quicker and simpler.
The procurement process has come a long way. No more paper-based documents or endless face-to-face meetings. Nowadays, businesses aim for efficiency and automation in their workflows, and that’s where procurement software steps in to modernize and increase the efficiency of end-to-end purchasing processes.
However, the numerous choices of procurement software can be overwhelming for business owners trying to find one, especially in the Philippines. Without a complete comprehension of your business requirements and landscape, there is a risk of selecting software that cannot fulfill your needs.
Thus, you need to think carefully when choosing purchasing management software for your business in the Philippines and understand what is procurement management.
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What is Procurement Software?
Procurement software is a tool that helps businesses manage buying supplies, from placing orders to paying vendors. It simplifies the process by automating tasks like tracking suppliers, creating purchase orders, and handling payments, making it easier and faster to manage purchases.
Businesses use procurement management software to simplify buying goods and services. These tools let employees request purchases easily from anywhere, helping the company focus on other important tasks.
Employees can easily share procurement needs with their department, whether they’re working remotely or in the field, using computers or mobile devices. Procurement system streamlines order management and provides a clear workflow, making the whole process smoother for the team.
12 Best Procurement Software in the Philippines
Choosing the right procurement software can be tough with so many options. If you’re unsure where to start, don’t worry – we’ve listed 12 Best Procurement Software Companies in The Philippines, focusing on cost-effectiveness and ease of use. Let’s find the best fit for your needs.
1. HashMicro Procurement Software
HashMicro’s procurement software is a solution for businesses in the Philippines seeking efficient purchasing management. It simplifies the procurement process with features like automated purchase orders, supplier management, and real-time tracking, ensuring smooth operations.
HashMicro stands out because it offers everything you need in one place. You can manage suppliers, track budgets, and handle purchase requests all within a single platform. Plus, HashMicro is customizable, provides advanced reports, and integrates smoothly with other systems, helping your company streamline procurement processes with ease.
With a solid track record in Singapore and Indonesia, HashMicro is dedicated to delivering outstanding service in the Philippines. This makes HashMicro the top choice for companies looking to take smart steps in managing their procurement processes.
Features:
- PO, RFQ, and PR management
- PR approval management
- Online portal for suppliers
- Vendor/supplier rating
- Blanket order management
- Landed cost calculation
- Integration with other systems and apps
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After knowing the various advantages of HashMicro Procurement Software, you can start considering our price calculations to find out that your software is really the right solution to support your company.
2. Coupa Procurement Software
Coupa, a California-based company, provides an exemplary procurement example with its software designed to assist businesses in managing their spending from a single platform. This software simplifies cost control and compliance efforts, enabling companies to streamline procurement, sourcing, contracting, expense management, invoicing, and payments.
Features:
- Analytics and reporting
- Spend visibility and management
- Supplier relationship management
- Contact and catalog management
- Inventory management
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3. Kissflow Procurement Cloud
Kissflow Procurement Cloud is a procurement management software process and vendor management in the Philippines, suitable for businesses of all sizes. It enables real-time monitoring of product levels, purchase requests, and status updates.
Administrators can evaluate vendor performance based on policy compliance, reputation, product quality, and delivery timelines. Suppliers have access to a self-service portal for updating information and receiving order notifications.
Features:
- Procure-to-pay
- Supplier management
- Invoice automation
- Spend analytics
- Inventory management
- Contract management
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4. Precoro
Precoro is a cloud-based purchasing software in the Philippines that simplifies procurement procedures. Its main features cover purchase order creation and delivery, blanket PO, visual analytics on departmental spending, billing, real-time budgeting, receiving, and catalog management with product links.
Precoro offers various functionalities, such as integrations with NetSuite and Quickbooks, as well as a free API. Users benefit from enhanced security, along with automated reporting for transparent procurement processes.
Features:
- Product catalog
- Custom reporting options
- Inventory tracking
- Real-time request management
- Automated workflow management
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5. Procurement Management Software Ecount
Ecount’s purchasing software, also known as the Ecount ERP Purchasing Module, is crafted to streamline and automate purchasing procedures within organizations. It has a base in the Philippines, which makes it easy to contact customer support. Its goal is to optimize the procurement process, boost efficiency, cut costs, and foster collaboration among various departments and suppliers.
Features:
- Supplier management
- Contract management
- Inventory management
- Sourcing and RFQ
- Budgeting and spending analysis
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6. GEP SMART Procurement Software
GEP SMART is a unified source-to-pay (S2P) purchase planning software that simplifies both direct and indirect spend management on a single cloud-native platform. It consolidates various procurement tools, eliminating the need for separate software or modules.
GEP SMART simplifies procurement, accelerates digital transformation, and boosts procurement team performance. It offers comprehensive analysis for CPOs, category-wide control for sourcing managers, and easy ordering for buyers.
Features:
- Spend analysis tool
- Procure-to-pay
- Supplier management
- Sourcing
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7. Astra Philippines
Astra (Philippines) Inc. is a Product Research and Development company focused on creating innovative world-class software and hardware solutions. Their primary goal is to bring out the best from their customers, partners, employees, and society as a whole.
To achieve their goal, they develop a wide range of products and solutions for businesses, including web-based Philippines procurement tools. This purchase management system helps companies streamline their procurement process, which enables them to work smarter.
Features:
- Calendar
- Document management
- Customized dashboard
- Updates and email notifications
- Reporting
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8. Jaggaer Procurement Software
JAGGAER is a purchasing software in the Philippines, revolutionizing B2B transactions with self-operating technology. Through the use of Internet of Things (IoT) technology, it facilitates seamless interactions among buyers, suppliers, and partners. This results in enabling a significant flow of goods annually across its Enterprise Commerce Network.
Features:
- Spend analytics
- Category management
- Supplier management
- Sourcing
- Contracts
- Invoicing
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9. Procurify
Procurify is a cloud-based e-procurement software that helps you manage the whole procurement cycle from order to payment. The app was designed to streamline the end-to-end procurement process of companies and make it more efficient.
To realize its goal, it was built with useful features for budget management, fraud prevention, purchase order creation, tracking and reporting tools, mobile capability, and many others.
Features:
- Purchase order automation
- AP automation
- Expense management
- Spend analytics
- Purchase requisitions
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10. Corcentric Procurement Software
Corcentric is one of the best procurement software for SMEs in the Philippines. It combines technology and payment services with advisory and managed solutions. The company collaborates closely with procurement and finance leaders to identify challenges and develop customized solutions. With its expertise, Corcentric helps businesses overcome unique difficulties and achieve tangible results.
Features:
- Purchase order automation
- Catalog management
- E-invoicing
- Reporting and analytics
- Spend analytics
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11. NetSuite Procurement Software
NetSuite’s procurement system assists businesses in purchasing goods and services efficiently, saving time and costs. It simplifies the procurement process by directing purchases to approved suppliers and pre-negotiated contracts, while also providing real-time visibility into spending and vendor performance.
Additionally, NetSuite enhances the accuracy of the procure-to-pay process by automating key transactions and integrating approval workflows to ensure internal controls and compliance.
Features:
- Source management
- Purchase management
- Invoice processing
- Vendor management
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12. SAP Ariba Procurement
SAP Ariba is a managing procurement software provider offering cloud-based procurement, spend management, and supply chain services. With its procurement management software, it facilitates global connections and transactions between suppliers and buyers. Their technology aims to enhance negotiation capabilities with suppliers and offer improved visibility and control over expenditure for companies.
Features:
- Invoice processing
- Expense tracking
- Order management
- Spend analysis
- Supplier management
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Benefits of Procurement Management Software
Procurement software provides numerous advantages to enhance your business’s procurement process, increase cost savings, and boost efficiency. Below are some of the main benefits a company can gain by using a procurement system:
- Reduce procurement costs: Procurement software cuts costs by automating types of procurement tasks, boosting efficiency, and freeing up resources for strategic activities.
- Reduce human errors: Procurement management software minimizes human errors through automation and standardized processes.
- Improve efficiency: With streamlined workflows and centralized data, procurement system software increases efficiency in procurement operations. Hence, it allows teams to accomplish more in less time.
- Better visibility in all processes: Procurement software provides real-time visibility into spending, supplier performance, and contract compliance. Thus, it fosters transparency within the organization.
- Improve risk management: By identifying and mitigating risks in the supply chain, procurement system software helps organizations minimize disruptions and protect against potential liabilities.
- Improve decision-making: This tech centralizes and analyzes all procurement data, which in turn facilitates strategic decision-making.
Things to Consider for Choosing Procurement System Software
Choosing the best procurement system software in philippines can be challenging due to the multitude of options available, each with its own set of features and target markets. The stakes are high because selecting the wrong software not only wastes time and money spent on learning it but also risks not meeting your business needs.
Therefore, it’s crucial to thoroughly assess several key points before making a decision. Before choosing procurement management software for your business in the Philippines, take your time to consider some important factors. This way, you can avoid problems and make sure the software you choose fits your needs and goals.
Here are some key considerations to evaluate when choosing the most suitable procurement management software for your business in the Philippines:
1. Mobile accessibility
Remote procurement is becoming increasingly important, benefiting both procurement teams and employees. Integrating a mobile app into your procurement software allows for on-the-go actions such as requesting, approving, and receiving purchases.
Push notifications speed up the approval process, while the ability to capture and store images of receipts and packing slips using a mobile device is convenient. Additionally, users can monitor budgets and establish approval thresholds to ensure departments adhere to spending limits.
2. Ease of use
Before committing to a procurement solution, ensure it is user-friendly for everyone in your company. Try out a free trial and walk through your procurement process. Are the steps intuitive? Are prompts and buttons written clearly for easy understanding? Furthermore, evaluate the mobile app’s user-friendliness. A user-friendly e-procurement software will be the greatest asset of your company.
3. Integrations with existing systems
Before investing in a procurement platform, it is crucial to ensure its seamless integration with your existing systems and compatibility with other tools currently in use.
Consider the following questions before making a decision: Does the system align with your core accounting or ERP system? Are there recommended procurement software vendors endorsed by your accounting or ERP platforms? Does the solution offer an Accounts Payable (AP) module or integrate smoothly with your accounting system?
In addition, evaluate whether the platform supports integration with any other systems already in use. By addressing these inquiries, you can make an informed decision that enhances your financial processes and optimizes your procurement operations.
4. Customer support
When seeking assistance with the software, explore options such as contacting an account manager or engaging in online customer support chats. Assess the quality of customer support provided by each software provider by visiting their website and reviewing online feedback.
Furthermore, when evaluating software options, prioritize features such as 24/7 or 24/5 support availability, dedicated onboarding teams, and an active, regularly updated online knowledge base or help center. These resources are essential for aiding users in getting started and resolving issues efficiently.
5. Scalability
When selecting a procurement system, it is crucial to consider its scalability to accommodate your business’s growth. Does the system offer a flexible pricing model that allows for additional users at any time, granting them access to all features at an affordable rate?
Furthermore, assess if the system can automate internal controls to mitigate risks in large-scale procurement processes, such as policy compliance management, risk alerts, budget controls, real-time notifications, and automated approval workflows. These features enhance accountability and control over spending processes as the user base and workflows expand.
Procurement managers can monitor company-wide spending behavior with instant notifications of requests and invoices requiring review, resulting in an optimized system that speeds up processes and improves accuracy through automation.
Conclusion
Choosing the right procurement management software in the Philippines can pose a challenge. However, with thoughtful consideration and our suggestions, we trust that you’ll be able to select the optimal purchasing software for your business needs.
For business owners in the Philippines looking for a purchasing management system, you might want to choose HashMicro. With our powerful and comprehensive features, along with seamless integrations with other systems and third-party applications, your procurement process will be significantly enhanced for optimal efficiency.
Are you interested? You can register for a free demo now.
FAQ about Procurement Software
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What is e-procurement software?
E-procurement software is a digital tool that helps businesses manage the purchasing process online. It streamlines tasks like selecting suppliers, ordering, and payment. This software makes buying supplies faster, more organized, and often more cost-effective.
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Is ERP a procurement software?
Many businesses use ERP systems to manage procurement, handle budgets, and track spending. The main goal of having a proper procurement process is to get goods or services at the best possible price.
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What is the Best Procurement Software?
There are several choices of the best procurement software for businesses in the Philippines, including Hashmicro, Precoro, Gepsmart, Coupa, SAP, Kishflow, and so on.
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What are the 3 main types of procurement?
There are three main types of procurement activities: direct, indirect, and services procurement. Direct procurement involves buying raw materials, machinery, and wholesale goods that are directly used in creating the company’s final product.
