IT Glossary

Procurement Applications

Procurement applications are used to help companies understand and improve the terms and conditions of trade and to comprehend enterprise spending. These applications assist in supplier selection, the analysis of supplier performance, and the establishment of the terms of trade to balance cost, quality and risk. Typical modules and applications include:

  • E-procurement
  • Strategic sourcing
  • Procurement business process hubs
  • Contract management
  • Tactical sourcing (request for quotation)
  • Spending analysis
  • Buy-side catalog management
  • Supply base management

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