Corcentric Procurement

Procurement Management Software

Control spend, reduce risk,
and drive savings across users,
devices, and locations

Turn procurement services into an agile, strategic,
and influential business driver with
Corcentric Procurement

Global supply chains are getting more complex, dynamic, and competitive. That means Chief Procurement Officers and their teams must become more agile and responsive by digitally transforming outdated, manually intensive procurement processes. Corcentric’s industry-leading Procurement Software Solution (or Procure-to-Pay/P2P) gives businesses total visibility into all purchasing and simplifies the entire requisition-to-PO-to-payment processing stream. An easy, intuitive purchasing experience encourages user adoption to gain greater control over spend, risk, and compliance, ultimately capturing realized savings to lower the cost of doing business.

 

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Disparate Systems

Does your team struggle to control disparate users, systems, and geographies?

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Manual Labor

Are inefficiency and error-prone manual processes limiting spend control?

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Burning Bridges

Is a lack of proper tools and collaboration damaging supplier relationships?

Report: Create a Payment Fraud Detection Strategy from Gartner

How to Create a Payment Fraud Detection Strategy at the Organizational Level by Gartner
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Catalog Management

Go from catalog to cart more easily,
faster, and with total compliance

Corcentric Catalog Management is an intuitive catalog search experience combined with a familiar online shopping experience. Making it easy for users means keeping purchases on-contract. It’s also simple for suppliers to update and maintain their catalogs in real time, with self-service tools to sync catalogs with contracts.

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Requisition Management

Purchasing products and services
has never been easier

Automate the P2P requisitioning process through predefined requisition types and workflows to quickly process purchase requests from business users. Our solution can centralize hundreds of catalogs and millions of items into one single platform with one easy-to-use procurement management software interface.

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Purchase Order Automation

Replace errors with efficiencies

Experience an automated requisition-to-PO-to-supplier submission workflow that’s audited, validated, and error free. Automated purchase order creation means never having to guess what format the POs are in or whether they’re accurate. Electronic submission makes the entire purchase order process fast, seamless, and efficient.

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Purchasing Contract

Simplify spend management against catalogs with our embedded contract process.

A procure-to-pay solution with embedded contract integration simplifies managing against catalogs, tracking usage, and controlling maverick indirect spend. Improved management of blanket contracts allows procurement users to cover a wide range of products and services identified in a contract. Those with permissions can ignore approval workflows for requisitions and POs, and skip the traditional three-way match associated with typical purchases.

procurement receiving

Receipt + Dispute Management

Enhance PO matching with authorized users for better flow, reduced costs, and fewer disputes

Ensure purchasing and spend compliance with different types of receiving available for any business situation (over receiving, quantity, partial, percentage receiving, etc.). Set up manual or automated receiving as multi-step receiving, manage goods returns, rate suppliers on receiving, and manage disputes on suppliers, receiving, or invoices — all quickly and simply in our P2P software solution.

Drive Procurement Control
and Agility

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Procurement FAQs

What is procurement software?

Procurement software is a software-as-a-solution SaaS platform that enables an organization to automate its entire purchasing processes, from catalog management to requisitions, purchase orders (PO), invoicing, payments and more. Also called procure-to-pay (P2P) solutions, these tools replace many, if not most, manual processes with workflow automation. This eliminates many manual errors, streamlines the purchasing function, helps to control spend and increase savings, and mitigates the chance of maverick (off-contract) spend.

What steps or stages are included in the procure-to-pay (P2P) process?

There is no single universal model of what constitutes procure-to-pay, but a good working model of the purchasing “lifecycle” starts with catalog management before moving on to purchase requests, contracts, request-for-quotes (RFQ), purchase orders (PO), receipt, e-invoicing, accounts payable (AP) and payments.

How does Purchase Order (PO) automation improve the procurement process?

A digital automated requisition-to-PO-to-supplier workflow provides an audited and validated process that eliminates any errors caused by manual inputs. With automated PO creation, you always know what format the POs are in, that they’re completed correctly, and exactly where they are in the approval process in real-time.

What is procurement contract compliance, exactly?

By embedding the contract creation process directly integrated as part of the procure-to-pay continuum, you greatly simplify the managing of purchases against approved catalogs, pricing, volume, delivery terms, and other contract details. That enables you to better track spend against budgets as well as control maverick (off-contract) spend. What’s more, with certain contract types, you can configure permissions that allow users to ignore approval workflows for requisitions and POs; for instance, if you have repeat or recurring orders on a regular basis.

Is supplier management considered part of the procure-to-pay process?

While most procurement teams have some sort of formalized supplier management structure in place, P2P technology can also play a critical role by simplifying how suppliers can upload and manage catalogs, submit RFQ bids, update certifications and – very important to them – streamline the PO/Invoicing/Payments process. Anything that makes it easier for suppliers to sell to your organization is considered good supplier relationship management.

What are the advantages of e-invoicing in the procurement cycle?

Automating with e-invoicing significantly reduces operational costs and increases efficiency while making the entire invoicing process faster, more accurate, and fully compliant. Eliminating manual errors also gives you vastly increased invoicing capability and flexibility by simplifying invoice matching and the identification of matching mode details — how the supplier invoice has been matched and how the invoice has been created. In essence, automation takes any guesswork and delays out of the cycle so the whole process is accelerated, freeing people up to add strategic value or focus on resolving exceptions.

“While it offers comparatively attractive pricing to both middle-market and Global 2000 organizations with targeted requirements, (Corcentric)’s capabilities can also make it suitable for larger organizations with unique e-procurement requirements. Within the e-procurement functional area, (Corcentric) has some of the strongest Order Management and Configuration capabilities in the market.”

Trusted by customers worldwide
to better manage spend

Ready to procure cost savings, spend control (and C-suite influence)?

Learn how we can help you build the perfect business case
to get stakeholder buy-in for procurement transformation.

Related Procurement Resources