A procurement software has the ability to manage all supplier information, contact details of the contractor, payment dates and terms, and contract documents. Purchase requisition Buyers can raise purchase requests, send them for approval to their supervisors, and send email notifications for the pending approval. The managers and supervisors can check and approve the request if the spending amount falls within his financial power or forward the request to a higher authority. Purchase Orders A procurement software can create purchase orders for the approved requests. It has multiple templates to generate purchase orders, and customization is available. Purchase orders can be downloaded in PDF format. Inventory alignment The procurement software can integrate with the inventory database or the inventory software to record the on-hand inventory. Based on the shortfall level in the inventory, it can automate the purchase requests. Supplier management This feature allows you to list their products, update prices from time to time, and define payment terms. The suppliers have access to the supplier section of the software. It also allows suppliers to download invoices and send email notifications to the procurement department regarding any updates. Invoicing This feature provides automated invoice generation and matching of invoices. Invoicing is done on predetermined rules, and therefore any forged invoicing is not possible. Reporting This feature lets you to generate reports of purchased goods and services, invoices, savings, commissions paid, supplier performance, and supplier wise expense.