What is procurement and purchase order management software?

Procure-to-pay suites are a set of integrated solutions that support transactional procurement. The market for transactional procurement solutions was created during the second half of the 1990s, when specialist catalog management and e-procurement solutions (combining e-purchasing and basic catalog management) emerged. More recently, e-invoicing and Accounts Payable Invoice Automation (APIA) have been added to several suites to form procure-to-pay suites. The newest P2P extensions for ERP include dynamic discounting solutions for maximizing early payment discounts, as well as statement of work (SOW) services procurement applications for strong governance of large, complex service agreements.

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