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Learn about the key terms and processes that are involved in procurement.
Everything you need to know under one page.

8 Ways Business Can Benefit from E-Procurement
8 Ways Business Can Benefit from E-Procurement
One of the problems of procurement is the system of management. The main issue is with the current way of ordering supplies and equipment.
Guide
Top 5 Tips for Improving Procurement Efficiency in 2022
Top 5 Tips for Improving Procurement Efficiency in 2022
The most common procurement challenge businesses face today is manual data entry - a long, labor-intensive process vulnerable to human errors. In 2019, half of the procurement functions ran on legacy tools such as Excel.
Guide
Factors To Consider When Choosing Suppliers And Vendors For Your Business
Factors To Consider When Choosing Suppliers And Vendors For Your Business
As a business begins to take shape, owners need to make all sorts of important decisions such as where to source products or materials from while achieving the best value for their money.
Guide
Understanding purchase orders, service orders, contracts, and master agreements
Understanding purchase orders, service orders, contracts, and master agreements
When selecting an offer or proposal from a supplier, your organization will need to award a contract to a supplier by formally notifying them of your intent to accept their offer and complete the purchase.
Key Terms & Definitions
Key pre-requisites to implementing a procurement management solution
Key pre-requisites to implementing a procurement management solution
When you adopt a procurement management solution for the first time, or digitize any part of your procurement and purchase process, you are effectively undertaking a digital transformation. As such, when implementing a procurement solution, you need to view the implementation and deployment process as a digital transformation, and not simply a software deployment.
Guide
Guiding principles to follow when implementing an e-procurement solution
Guiding principles to follow when implementing an e-procurement solution
The transition to a digital procurement process is a challenging process requiring substantial effort and dedication on the part of your organization and your team members. In addition to managing the configuration of your software, you need to undertake a change management effort to ensure buy-in of your users and team members.
Guide
5 Stages of Implementing an E-Procurement Software
5 Stages of Implementing an E-Procurement Software
Implementing an e-procurement software can be challenging, but with the 5 stages described in this blog post, you can make the process much quicker and simpler.
Guide
Direct vs Indirect Spend: What's the Difference and Why Does It Matter?
Direct vs Indirect Spend: What's the Difference and Why Does It Matter?
Organizational spend is often categorized into two types: direct spend and indirect spend. Read on ahead to learn how each affects your business.
Key Terms & Definitions
Spot Procurement vs Strategic Procurement
Spot Procurement vs Strategic Procurement
Understanding the differences between spot procurement and strategic procurement is essential for businesses that want to manage their spend more effectively.
Key Terms & Definitions
How implementing Proqura can save your time and reduce costs
How implementing Proqura can save your time and reduce costs
The costs associated with running and managing procurement processes are often ignored or underestimated. Leveraging e-procurement can dramatically cut costs and add to bottom line.
Guide
What's the difference between an RFI, RFP and RFQ?
What's the difference between an RFI, RFP and RFQ?
Leveraging different requisition formats tailored to your procurement needs can enable you and your suppliers to communicate clearly and collaborate effectively and efficiently.
Key Terms & Definitions
Why an intuitive, easy-to-use interface is essential for any e-procurement solution
Why an intuitive, easy-to-use interface is essential for any e-procurement solution
The aim of any business software is to increase your productivity. Software needs to be intuitive to enable users to truly benefit. Proqura is self-service with a minimal learning curve.
Guide
Everything in one place: What does a complete Procure-to-Pay process involve?
Everything in one place: What does a complete Procure-to-Pay process involve?
Procurement management modules in ERP systems continue to require a lot of manual data entry, offline work, and email communication. Proqura's complete Procure-to-Pay system brings the entire process online, all in one place.
Key Terms & Definitions
What Key Steps Does a Typical Procurement Process Involve?
What Key Steps Does a Typical Procurement Process Involve?
Understanding the elements of a complete procurement process can help you make your procurement process more systematic and organized.
Guide
Why e-procurement - and not an ERP - is the Solution to your Procurement Problems
Why e-procurement - and not an ERP - is the Solution to your Procurement Problems
All in one ERP systems have their benefits. But with integrations becoming more standardized and easier, a solution that is focused specifically on procurement is more advantageous.
Guide
What is a Purchase Order and What are the Benefits of Digitalizing It?
What is a Purchase Order and What are the Benefits of Digitalizing It?
A purchase order can be defined as a buyer's formal intimation of their intent to purchase goods or services from a supplier. Learn more about purchase orders and why you should digitize them in this blog post.
Key Terms & Definitions