Buy what you need, whenever you need it, from the right supplier, at the right price. Medius Procurement is our procurement software and eProcurement solution that will bring all your spend under control and ensure compliance.
Reduce maverick spending and ensure that you're getting the right price from negotiated contracts.
Automate buying processes, including workflow approvals and generating POs for automatic distribution.
Increase straight through processing rates by automatically comparing invoices against purchase orders.
Automated accounts payable and procurement software are changing the way businesses manage their spend. Hear from Spend Matters how automating your procure to pay processes with Medius spend management software – starting with invoice processing first - will help you:
Transform all supplier invoices into one digitized format.
Automate, capture, and extract data – at line-level detail.
Match invoices to POs, no matter how complex.
Pay suppliers on time, every time.
Improve purchasing control and reduce costs.
Download the Spend Matters report to learn the best approach to automating your entire P2P process.
Our eProcurement software solution allows you to find what you need using a sophisticated search feature. If you prefer browsing, punchouts to third-party catalogs allow you to add items to a shopping basket and enter them into your pre-designed approval process in our eProcurement system.
Set up approval workflows and permissions to ensure the right people approve requisitions and purchases. Automated approval emails make it easy to accept or reject the workflow without being in the software.
Ditch sending paper POs to your suppliers. By integrating Medius AP Automation with Medius Procurement you can automate the entire procure-to-pay process.
Detailed data is delivered through configurable dashboards. Drill down into specific transaction details or review an entire spend category giving you complete visibility of purchases.
Enforce a hard stop at checkout, or allow the spend to continue with additional approval through the workflow. Budget holders can approve/reject spend and view how much budget is spent within their scope.
“We’ve designed SolutionMap to aid the practitioner so they may better understand and analyze the customer experiences, market developments and technological innovation of the myriad solution providers by process competency,” said Jason Busch, Founder and CEO of Spend Matters.
Feeling uneasy about how your business is purchasing goods and services? Discover a more efficient way to source, spend, and receive, saving you time and money.
In this webinar, you’ll learn how our procurement software and eProcurement solutions can help you:
Optimize your purchase-to-pay process for better control and efficiency.
Rapidly bring together your back-office and third-party systems using Medius Connect. You'll be able to:
Integrate seamlessly to catalogs or other supplier marketplaces providing goods and services.
Integrate Medius Procurement to other Medius solutions including Medius AP Automation and Medius Pay for a complete procure-to-pay solution.
We’ve gathered everything you need to know about the accounts payable process, the efficiency KPIs to measure, and the latest AP benchmarks. Our report presents benchmark values derived from thousands of AP teams around the world so that you can compare your results with the average and best-in-class companies.
Plus, you’ll get top tips on how to improve efficiency for further acceleration and automation of the invoice process.
On-Demand Webinar
Find and fix fatal flaws in your supply chain and AP
Learn how to identify fatal flaws in your supply chain and AP processes. Covering strategies for accessing critical information, analyzing compliance requirements, and identifying emerging risks, this webinar will help you optimize your processes and avoid costly mistakes.
"Medius Procurement has helped with our cost control. We can see now where money is being spent, so we can ensure that we aren’t wasting money on expensive suppliers and aren’t duplicating effort."
Jacco Daemen
Finance Transformation Manager, CEVA Logistics
Procurement software, also known as eProcurement software, streamlines and automates the entire purchasing process. It helps organizations manage requisitions, approvals, purchase orders, and supplier relationships efficiently. Procurement software ensures compliance, reduces manual errors, and enhances visibility across the procurement lifecycle. With features like automated workflows, real-time analytics, and seamless integration with ERP systems, procurement software is essential for achieving cost savings and operational efficiency.
eProcurement works by streamlining and automating the traditional procurement process using digital technologies. It involves managing the entire purchasing lifecycle, from requisitioning and ordering to invoicing and payment, through an integrated online system.
eProcurement solutions allow businesses to manage supplier relationships, conduct strategic sourcing, and handle contract management all in one place. By automating tasks such as sending out tender documents, processing supplier onboarding, and managing purchase orders, eProcurement reduces manual effort, minimizes errors, and enhances efficiency.
Additionally, it provides real-time analytics and reporting, enabling procurement professionals to make informed decisions and maintain full visibility and control over their spending.
eProcurement solutions offer several key features that enhance the procurement process. They streamline workflows by automating requisitions, approvals, and purchase order generation, reducing manual intervention and errors. Supplier management tools allow for efficient handling of supplier information, performance, and relationships, ensuring a reliable supply chain. Catalog management features let users search, browse, and order from a centralized catalog of pre-approved suppliers, simplifying the purchasing process.
Additionally, eProcurement solutions provide real-time spend analysis, integration capabilities with existing ERP systems, contract management, and compliance and risk management, all of which contribute to improved efficiency, cost savings, and adherence to procurement policies.
Procurement involves the traditional process of sourcing, ordering, and purchasing goods and services, often relying on manual methods and paperwork. eProcurement, on the other hand, uses digital tools and online platforms to automate and streamline these activities. eProcurement enhances efficiency, reduces errors, and provides real-time visibility into procurement processes, making it more effective and cost-efficient compared to traditional procurement.
Procurement software improves efficiency by automating and streamlining the entire procurement process. It reduces manual tasks, such as data entry and approval workflows, which minimizes errors and saves time. The software centralizes purchasing activities, making it easier to manage supplier relationships, track spending, and ensure compliance with procurement policies.
With real-time analytics and reporting, procurement professionals can make informed decisions quickly, leading to better control over spend and improved cost savings. Additionally, procurement software facilitates smoother communication between departments and suppliers, further enhancing operational efficiency.
eProcurement software ensures compliance by automating and enforcing procurement policies and regulations throughout the purchasing process. It centralizes supplier information and contract management, making it easier to track and manage supplier compliance with contractual terms.
The software also includes approval workflows that ensure purchases are reviewed and authorized according to company policies. Additionally, eProcurement solutions provide audit trails and reporting capabilities, offering transparency and accountability for all transactions. This helps organizations adhere to internal controls, regulatory requirements, and industry standards, reducing the risk of non-compliance and associated penalties.
Yes, procurement management software can integrate with existing systems. Modern procurement solutions are designed to seamlessly connect with various enterprise systems such as ERP (Enterprise Resource Planning), accounting software, and supply chain management platforms. This integration ensures a smooth flow of data across systems, enhancing overall efficiency and accuracy. By linking procurement management software with existing systems, organizations can automate data entry, streamline processes, and improve visibility and control over procurement activities, leading to better decision-making and operational efficiency.
Using procurement management software enhances efficiency, reduces costs, and improves control over procurement activities. It automates processes to minimize errors, streamlines workflows from requisition to payment, and provides real-time insights for better decision-making. Procurement management software also ensures compliance with policies and regulations through automated checks and facilitates better supplier management.
Medius Procurement software employs advanced security measures to protect your data and transactions. These include encryption for data in transit and at rest, secure user authentication, and role-based access controls to ensure only authorized personnel can access sensitive information. Regular security audits and compliance with industry standards are other ways Medius helps safeguard against potential threats and vulnerabilities, ensuring the integrity and confidentiality of your procurement processes.
Yes, Medius Procurement is designed to handle international suppliers and multi-currency transactions seamlessly. The software supports multiple currencies, allowing you to manage and process payments in various currencies with ease. It also includes features for handling international suppliers, ensuring compliance with global procurement standards and regulations, and providing the necessary tools for efficient international supplier management. This capability helps businesses streamline their global procurement processes and maintain accurate financial records across different currencies.
Medius Procurement integrates seamlessly with existing ERP systems through Medius Connect, a robust integration platform. This integration allows for smooth data flow between Medius Procurement and your ERP, ensuring all procurement activities are synchronized with your financial systems. The integration supports real-time updates, automated data transfers, and comprehensive reporting, enhancing the efficiency and accuracy of your procurement and financial processes. Medius Procurement even offers managed connectors for various ERP platforms, simplifying the integration process and reducing the need for extensive IT resources.
Medius Procurement ensures compliance with company policies and regulations by automating the enforcement of procurement rules and approval workflows. Our eProcurement solution allows for the creation of customized approval processes, ensuring that all purchases are reviewed and approved by the appropriate personnel. It also maintains a comprehensive audit trail of all procurement activities, providing full visibility and traceability. Additionally, Medius Procurement regularly updates to comply with the latest regulatory requirements, helping your organization stay compliant with industry standards and legal mandates.
