Procurement system software looks after different stages of procurement management for streamlining supply chain. The software does this by first identifying goods/services so required by an organisation before selecting the right vendor or supplier. Once this process is complete, procurement management systems helps with submitting purchase requisitions for creating purchase orders.
As soon as all these steps are complete, the supplier sends invoices to the respective organisation for final payment. All these activities are neatly documented with procurement system software so that the same can be later audited with e-procurement software's auditing feature.