End maverick spend with Medius Procurement software
Buy what you need, whenever you need it, from the right supplier, at the right price. Medius Procurement is our eProcurement package that'll bring all your spend under control and ensure compliance.
Why Medius Procurement?
Total, organization-wide spend control
Reduce maverick spending using our online procurement tool. Enable seamless buying on negotiated contracts, and see your savings skyrocket with procurement automation
Make spending easier
Utilise our electronic purchase order software to automate purchase approvals and generate purchase orders (POs) for that track against budgets and are fully compliant.
Track all spend, simplify auditing and boost compliance
See exactly where your spend is going with easy-to-access dashboards helping you stay on top of all buying activities within our online procurement platform
Ensure spend control and compliance with Medius
Consumer-like buying tailored to you
Search for what you need using our sophisticated search feature. If you prefer browsing, punchouts to third-party catalogs allow you to add items to a shopping basket and entered in your pre-designed approval process. Our digital procurement platform is there to work for you, whichever way you choose.
Route approvals to the right people
Set up approval workflows and permissions to ensure the right people approve requisitions and purchases for your business. Make it easy for staff to sign-off spend by sending automated approval emails, with accept/reject buttons - all without having to log in to your online procurement software each time.
Reduce manual processing
Our automated procurement system removes the need to manually send POs to your suppliers. Instead, raise a purchase order, receipt goods, automatically process an invoice, and allow suppliers to be paid - without your finance team lifting a finger. It's that simple, and it saves time and money!
Full visibility of spend
With an e-procurement solution by Medius, meaningful and detailed data is delivered in real-time through configurable dashboards. With our procurement management software, you can drill down into specific transaction details, interrogate an entire spend category or put an entire department under the microscope – enabling you to make well-informed decisions.
Medius Procurement seamlessly connects with your business systems
Rapidly bring together your back-office and third-party systems using Medius Connect. You'll be able to:
- Out of the box connectors and rest API means your implementation time is rapid and predictable
- Integrate seamlessly to catalogs or other supplier market places providing goods and services
- Seamless integration into other Medius Spend Management modules such as Medius AP Automation for Complete Procure to Pay transactions
Join these organizations who depend on Medius to spend smart
Hear from one of our clients
Magdalena was very nice and helpful even though we kept adding more to the ticket for several days in a row. She helped us out really quickly. Thank you!
Ivana Buden
Dellner Couplers
Procurement Software FAQs
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What is Procurement software?
Procurement software, also known as eProcurement, is a process of requisitioning, ordering and purchasing goods/services via the internet.
At an enterprise level, a chief procurement officer will set policies for procuring goods and services for the business, with a goal of getting what the business needs for the best possible value. To accomplish this, there are several actions to take, such as: establishing supplier relationships, negotiating contracts, and setting purchase limits. In many cases, businesses choose to make this simpler and far more efficient by using procurement software. Procurement management software allows businesses the opportunity to boost efficiency within the procurement process.
Our eProcurement solution gives procurement leaders the ability to streamline and automate these policies, alongside vendor contracts and relationships in one system. It also enables employees to look through any catalogs and select the items they need in one centralized digital hub, instead of an elongated manual process.
Users of eProcurement software can manage purchases based on permissions set by an admin, enabling buying professionals to manage delegating responsibilities more accurately. Any supplier contracts can also be stored within your procurement platform alongside the vendor’s contact information, and payment terms, making managing relationships easier.
A procurement software system is essential for any business that wants to cost efficiency and control in mind. Learn more about our procurement software and eprocurement solutions here.
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How does eProcurement work?
eProcurement is designed to streamline the regular procurement process. Instead of manually doing things such as exchanging contracts, sending out tender documents, and filling out supplier onboarding questionnaires, the entire process is automated. It also blends elements of procurement and finance to streamline operations between the two.
Here are the key components of an eProcurement solution:
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Supplier management – refers to a buying organization administrating suppliers’ information, interactions, performance, and relationships. Supplier management involves gaining complete visibility on the information, interactions, and ongoing performance of an entire supplier database.
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Supplier Management is typically comprised of two elements – Supplier Relationship Management (SRM) and Supplier Information Management (SIM).
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Sourcing & Contract Management – details the end-to-end process an organization undertakes when identifying and sourcing products or services. Sourcing & Contract Management software suites deal with strategic sourcing activities, online supplier auctions and contract lifecycle management.
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Procurement – describes the end-to-end process of ordering a product or service from a supplier, through to the organization making a payment of services rendered.
Procurement is made up of product ordering, supplier requisitions, budget authorization, receipting of delivery, and invoice processing. Procurement software improves efficiency, savings, spend management, and transparency across the entire purchasing lifecycle.
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Analytics – most tools used in businesses use some sort of analytics platform and eProcurement is no exception. Typically, analytics allow procurement and finance professionals to view and take corrective measures for spend across the whole business. This is usually achieved with easily configurable dashboards, giving decision-makers what they need to make informed decisions.
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How do Procurement software solutions work?
Procurement software solutions are designed to streamline the regular procurement process. Instead of manually doing things such as exchanging contracts, sending out tender documents, and filling out supplier onboarding questionnaires, the entire process is automated. It also blends elements of procurement and finance to streamline operations between the two.
Here are the key components of an eProcurement solution:
-
Supplier management – refers to a buying organization administrating suppliers’ information, interactions, performance, and relationships. Supplier management involves gaining complete visibility on the information, interactions, and ongoing performance of an entire supplier database.
-
Supplier Management is typically comprised of two elements – Supplier Relationship Management (SRM) and Supplier Information Management (SIM).
-
Sourcing & Contract Management – details the end-to-end process an organization undertakes when identifying and sourcing products or services. Sourcing & Contract Management suites deals with strategic sourcing activities and managing contracts and it is usually comprised of eSourcing (eAuctions and eTenders) and contract management.
-
Procurement – describes the end-to-end process of ordering a product or service from a supplier, through to the organization making a payment of services rendered.
Procurement is made up of product ordering, supplier requisitions, budget authorization, receipting of delivery, and invoice processing. Procurement software improves efficiency, savings, spend management, and transparency across the entire purchasing lifecycle.
-
Analytics – most tools used in businesses use some sort of analytics platform and eProcurement is no exception. Typically, analytics allow procurement and finance professionals to view and take corrective measures for spend across the whole business. This is usually achieved with easily configurable dashboards, giving decision-makers what they need to make informed decisions.
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Why use Procurement software?
The main function of any eProcurement tool is to streamline and optimize existing operations. It does this by reducing errors and enhancing efficiency by making the processes easier. It also improves communications between companies, suppliers, and stakeholders.
Managing procurement efficiently ensures that business operations will run more smoothly. Proper procurement strategies can make sure that all products and services are effectively acquired with the best business interests in mind. It can also help to save time, money, and resources.