Sourced

What is procurement software?

Procurement software automates the corporate purchasing process: from requisition to purchase order. It manages suppliers, quotes, approvals, and compliance on a single platform.

How to automate the bidding process?

Bidding automation uses AI to automatically search for suppliers, send RFQs via email, maintain automated conversations with each supplier, exchange queries, and generate intelligent comparisons. It reduces manual time by 70%.

What is a supplier management system?

It's a platform that centralizes all supplier information: contacts, capabilities, purchasing history, evaluations, and contracts. It facilitates supplier search and comparison.

How to reduce procurement costs?

By automating quotes, expanding the supplier network, negotiating consolidated volumes, and using AI to find better prices. Companies typically save 5-10%.

What is artificial intelligence in purchasing?

AI in purchasing automates supplier search, predicts prices, optimizes inventory, and analyzes risks. It enables faster and more precise decisions based on historical data.

How to integrate purchasing software with ERP?

Integration synchronizes data between the purchasing system and ERP: orders, invoices, inventories, and budgets. It's done through APIs or predefined connectors.

What is a supplier portal?

A supplier portal is a self-service platform where suppliers register, upload invoices, check PO and payment status, and update their information. Sourced includes a white-label portal integrated with your ERP.

How does AI invoice processing work?

Sourced extracts data from invoices with OCR, automatically validates against tax authorities and matches against the corresponding purchase order. Discrepancies are detected before approving payment.