Your dream procurement experience just came true.
Esker's cloud-based automated e-procurement software optimises spend requests and goods/services ordering. What does that mean? It means that every spend request gets the required authorisation and every invoice is matched with a PO. And, with its ability to interface with a variety of users in different company departments, the e-procurement cloud-based solution makes user adoption ridiculously easy.
- Improved budget controls & follow-up via real-time analytics
- More accurate & streamlined cashflow management
- Increased fraud prevention, discounts & compliance
Track and search spend from beginning to end.
Spreadsheets are good for a lot of things, but performing real-time budget follow-up isn't one of them. That's where Esker’s e-procurement software steps up to the challenge. Every transaction — from request to receipt of goods or services — is tracked, enabling full reporting on requisitions, items purchased, orders processed and payments made.
PROCUREMENT MANAGEMENT SYSTEM DASHBOARDS WITH BUILT-IN KPIs
Esker's e-procurement software also includes customisable, user-friendly dashboards to:
Manage daily tasks
and organise priorities
and reward top performers
Spot problems & opportunities
as soon as they arise
Approve and process requisitions with unmatched speed and precision.
Thanks to an automated approval workflow, the correct level of authorisation is always applied to each request and spend is within the agreed-upon budget. Esker users are also granted access to products from preferred suppliers, allowing the purchase to be in-line with company procurement policies (no more maverick buying!). Additionally, requesters get the items they want from a catalogue of approved items in the required timeframe. The buyer can acknowledge that the approvals have been received, and complete the order in just a few mouse clicks.
For managers who are out of the office, Esker Anywhere, Esker’s mobile application, enables them to approve purchase requisitions and review favourite KPIs and metrics anytime, anywhere.
“I'm amazed at how user-friendly Esker's solution is. We were up and running in no time with very little training required. Thanks to Esker’s automatic three-way matching, we’ve eliminated manual processing and no longer need to maintain those Excel spreadsheets! It feels like everything is aligned now.”
Stop leaving AP high & dry
Accounts payable often has to deal with the chaos caused on the front end, along with the bad reputation that goes with it. Companies can nip this in the bud with Esker’s automated e-procurement software — orders are all pre-approved, meaning every invoice processed becomes PO-based and is easily matched with the corresponding PO and goods receipt. Esker’s AI-driven solution also cuts down on maverick spending, which can have severe consequences on a business’ bottom line.
Automating on the purchasing end also gives AP folks instant insights into what’s being spent, ordered and received so that they can track down missing invoices and book appropriate accruals. Now that's what we call strategic collaboration.
Procurement software to optimise
buyer–supplier interactions in the P2P process.
Procurement professionals who use Esker are empowered with greater leverage to negotiate price breaks, volume discounts and favourable payment terms. Esker’s self-service portal also benefits suppliers by accelerating onboarding, streamlining catalogue management, providing access to invoice payment status 24/7, and facilitating the fast resolution of exceptions and discrepancies — all resulting in a happier supplier base and improved B2B transparency.
Customise your identity
Brand your portal interface to match your company’s corporate identity! Customising our application with your own colours and logo makes it easy for your suppliers to identify your company.
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FREQUENTLY ASKED QUESTIONS ABOUT PROCUREMENT SOFTWARE
What is procurement software?
Procurement software is a cloud-based business solution designed to optimise spend requests and goods or services ordering. It ensures every transaction undergoes necessary authorisation and every invoice aligns with a purchase order (PO). This software enhances user adoption across departments, streamlines cash flow, and offers real-time analytics for improved budget controls.
Why do you need procurement software?
In today's fast-paced business environment, efficient and transparent procurement processes are paramount. Procurement system software provides a solution to streamline these processes, ensuring timely approvals, cost savings, and strengthened vendor relationships.
Consider the case of Swinburne University's Sarawak campus – previously burdened by manual, paper-based purchasing procedures, they faced challenges like prolonged delays, lack of invoice tracking, and vendor dissatisfaction. After adopting Esker Singapore's Procure-to-Pay solution, the campus witnessed a transformation. Their P2P processes were accelerated, manual data entry was reduced, and they achieved an impressive 80% in cost savings.
Additionally, the system's cloud-based nature facilitated remote work, proving invaluable during challenging times. This case underscores the tangible benefits and adaptability of procurement software in diverse scenarios.
Delve into more details about how Esker Singapore improved Swinburne University Sarawak Campus’s procurement process.
How does procurement software work?
With Esker Singapore’s automated procurement software, orders are all pre-approved. Every invoice you process becomes PO-based and can be matched with the corresponding PO and goods receipt. The ease in this solution is driven by Artificial Intelligence (AI), and Accounts Payable can focus on their expertise without dealing with all the front-end headaches. Accounts Payable now have instant access to insights on the current spending and what’s been ordered and received. They can strategically collaborate to ensure all invoices are accounted for, and all accruals are booked.
It's noteworthy to mention that our commitment to innovation in the procurement domain has been globally recognised. In the 2023 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions, Esker Singapore was highlighted as a Sample Vendor. This recognition not only validates the effectiveness of our procurement management system but also emphasises the importance of such technologies in the modern procurement landscape.
For procurement technology leaders, tools like the Hype Cycle offer invaluable insights, helping them understand the maturity and benefits of various sourcing and procurement technologies. By aligning with solutions acknowledged in the Hype Cycle, organisations ensure they are at the forefront of industry advancements.
View Hype Cycle for Procurement and Sourcing Solutions in 2023 for more information.
How does the procurement software integrate with different ERP systems?
Esker Singapore's procurement software exhibits robust integration with various ERP systems, including SAP, Oracle, and Microsoft, enabled by open APIs and system "connectors". This seamless interoperability ensures unimpeded data flow across platforms, eliminating data silos. It facilitates real-time information exchange, streamlining processes and enhancing efficiency. Independent from specific ERP applications, it offers businesses the flexibility to connect as needed. The result is a comprehensive procurement management system that not only improves operational efficiency, but also supports informed decision-making by offering access to integrated, real-time data.
Beyond ERP systems, the procurement software also integrates with other IT systems like e-invoicing software provided by Esker Singapore. This integration ensures that businesses can manage their procurement and invoicing processes in tandem, allowing for a more cohesive and efficient financial workflow, reducing manual interventions, and ensuring timely and accurate data processing.
How does the procurement software track and search spendings from beginning to end?
Our advanced procurement system software meticulously monitors and records spending data from the inception of a purchase request to the concluding invoice payment. Its superior search capabilities allow users to retrieve in-depth spending data, fostering unparalleled transparency readily. This complete, detailed visibility of the procurement process bolsters strategic sourcing decisions, helping to identify potential savings opportunities. By providing a comprehensive picture of the procurement lifecycle, the system aids organisations in optimising spending patterns, managing budgets effectively, and ensuring fiscal discipline, contributing to improved financial performance.
How can the procurement software help with fraud prevention and compliance?
Esker Singapore's procurement software employs robust security management system measures and automated approval workflows to minimise fraud risks. It also ensures compliance by maintaining comprehensive records of all transactions. The software's built-in audit trail functionality and configurable rules and permissions make it easier for businesses to adhere to internal controls and regulatory requirements.
How does automated procurement software improve buyer-supplier interactions and negotiation capabilities?
Esker Singapore's automated procurement system software fosters improved interactions between buyers and suppliers. It does this by providing a centralised management system platform for communication and negotiation. Our software's in-built analytics can highlight supplier performance patterns, helping buyers to negotiate better terms. This enhanced visibility and communication can lead to stronger, more collaborative supplier relationships.
How does the procurement software assist with the digital transformation of businesses' procure-to-pay cycles?
Esker Singapore's procurement software is vital in the digital transformation of procure-to-pay cycles. Businesses can streamline their operations, reduce errors, and save valuable time by automating repetitive tasks and digitising paper-based processes. Our software's data analytics capabilities also provide actionable insights, helping organisations to drive continuous improvement in their procurement processes.
With our experience as a worldwide leader in cloud-based document process automation software, we help businesses of all sizes increase efficiency and deliver added value to their O2C and P2P business processes. We’ve partnered with over 6,000 companies since 1985 to transform their business communications digitally.
For instance, Luxasia, a renowned luxury retailer specialist, faced challenges when looking to establish a Shared Services Centre (SSC) in Malaysia - with the aim to centralise their accounting team and automate invoice processing. This was part of their plan to first set-up for their Headquarters in Singapore, thereafter expand the procurement system to all their subsidiaries in Asia.
To address this, they partnered with Esker Singapore to streamline and simplify their workflow when it comes to procurement - instead of manually filing paper documents, it allowed them to raise a purchase requisition and trigger a workflow for approval of non-inventory items. This helped to improve the workflow approval time by four times faster and Esker’s system also creates and sends a corresponding Purchase Order automatically to the supplier. Thereafter, the receiver creates a goods receipt by entering the quantity received and the information is pushed to SAP.
Our procurement software transformed their order process, with a significant shift from manual to automated order entries, leading to faster order processing and reduced turnaround times.
Additionally, our order management system further streamlined their operations. The result? Enhanced efficiency, reduced errors, and a more focused customer service team, ensuring a seamless order-to-cash cycle and an improved customer experience.
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