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ProcurePort Combines Its e-Sourcing Platform with a P2P Software, Delivering a Comprehensive Cloud Hosted Source-to-Pay Platform

July 10, 2017

ProcurePort, a leading provider of On Demand E-Sourcing Software including Reverse Auction Software and services, is embracing 2017 as a banner year thanks to the growing acceptance of E-Sourcing as a way to dramatically cut purchasing costs and streamline procurement. To continue with this growth momentum, ProcurePort is launching a cloud hosted Procure-to-Pay Software (P2P) fully integrated with its E-Sourcing suite to deliver a comprehensive Source-to-Pay Platform.

The new integrated ProcurePort Source-to-Pay (S2P) platform will support enterprise processes relating to the purchase of direct and indirect goods and services. Most common business processes that can be automated with the ProcurePort Source-to-Pay (S2P) platform include bid solicitation (including reverse auctions), supplier management, catalog & inventory management, requisitioning, receiving, inbound invoice processing and payment, contract management and contract compliance.

ProurePort's zero footprint cloud based platform has been proven at the enterprise level since 2001. It is easy to use and easy to integrate with any 3rd party ERP suite; delivering the right tools to get the job done.

Send Analysis Software + Service: Unlike other sourcing platforms, ProcurePort combines automated solutions with human intellect to give an organization accurate categories, comprehensive data and true visibility into purchasing trends.

Strategic Sourcing Suite: ProcurePort empowers an organization to generate cost savings and reduce sourcing cycle time by leveraging its comprehensive e-sourcing toolkit, allowing for streamlining the RFP, RFI and RFQ process, resulting in better supplier agreements.

Procure-To-Pay Suite: Simplicity is not just a buzz word, it is the way that organizations can achieve user adoption and prevent maverick purchases by implementing the ProcurePort P2P Software. ProcurePort offers a full suite of tools to streamline the entire source-to-pay process, in a format that anyone can learn and everyone will love.

According to Gartner™, by 2019, expanding adoption of e-invoicing, e-sourcing and supplier information management technology will result in a tenfold increase in digital B2B interactions.

By 2020, over 70% of spending on procurement and sourcing technology will be for cloud delivered solutions.

Because ProcurePort's Web-based E-Sourcing and Spend Management solutions do not require expensive and time-consuming setup or integration, many of ProcurePort's customers realize a return on their investment immediately after their first sourcing event. “This on-demand model is much more affordable than other alternatives and allows mid-sized businesses to benefit from the same online procurement technology that was previously only available to large corporations,” explains Smith. The rapid return on investment delivered through E-Sourcing and Spend Management technology is one of the major reasons ProcurePort predicts that the strategic sourcing market will grow significantly over the next decade.