Hand Global Solutions procures and sources its process to provide a solution. It aims to combine both on the same platform so the clients can get access to them at a single hub and don’t need to navigate. If we talk about this management platform, it is based on the cloud and integrates with an ERP(enterprise resource planning) platform like Oracle. It is in demand as many clients need advanced purchasing software for small business. The procurement system is the answer to that.
- The best feature the software offers is its ability to provide the one-stop solution for various management like supplier, sourcing and pricing, procurement, contract, execution of the order, and lastly invoice and payment. A company can benefit largely from it. They can reduce their procurement costs, scale their business growth and increase efficiency.
- The difference between this and other purchasing software is that the purchasing software for small business doesn’t support a company in various areas of procurement. With this, the clients get different sets of tools as well as access to various goods and services.
- The implementation of cloud technology helps it find the potential suppliers and draw comparisons so that they can find the best available prices.
- It integrates various tools throughout the goods and services to manage all the tedious procurement tasks.
- Its sourcing module effectively deals with cost management and evaluates its suppliers. The goal of this module is to find the balance between both. A good supplier with reasonable pricing is their best bet. The prices can also be reduced by using the tools available in the collection. Bidding and price library are the two tools that can be used to negotiate effectively.
- The collaboration module is used to serve as a platform for the collaboration of various partners. This module increases the efficiency of the system.
- It consists of both direct and indirect procurement. It makes use of the business data to find the client’s needs and work accordingly.
- Nowadays, digital transformation has taken over the world. Everything is getting smarter and better. Procurement software also relies on the same formula. The business model is integrated technically to act as a one-stop solution for all.
- Transparency is its biggest asset. With the help of this software, more insight is available into the relationship with suppliers and demand. It also gives live updates on the progress which sets it apart from its adversaries.