These three categories are: ERP systems, Source-to-Pay (S2P) suites & other “best of breed” solutions. To make things simpler, it is important to understand that there are 3 main categories of Procurement software solutions. However, it makes buying Procurement systems and the associated Procurement system architecture decisions more complex. Generally speaking, this is great news for supply chain professionals. This plethora of options reflects the increased focus on Procurement organizations as value drivers for the business. Certain larger providers even argue they can be your “one-stop shop” for the entire Procurement value chain. There are well over 100 procurement software companies worldwide today, each focusing on different parts of the Procurement value chain. With the proliferation of enterprise procurement systems available today, buyers are confronted with an anxiety inducing paradox of choice. It’s easy to get lost in the wild when buying Procurement software…
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