The best tools to digitalize your purchasing process
The health crisis has accelerated the digital transformation of companies and reinforced the need to automate processes. This is particularly true of the purchasing process, where 40% of tasks are considered operational and of little added value, according to a recent McKinsey study. However, a recent report by Deloitte indicated that only 30% of purchasing departments have implemented automation tools!
The digitalization of the purchasing process is therefore a development axis for many companies.
Why digitize your purchasing process?
The technological evolution and the arrival on the market of numerous start-ups is profoundly changing the buyer’s job. Indeed, the digitization of the purchasing process allows to reach many objectives:
- Better monitoring
- Automation of procedures
- Resource optimization
- Improved profitability
Thus, most operational tasks can be managed automatically or semi-automatically. This frees up valuable time for buyers to focus on strategic, higher value-added tasks that cannot be automated.
In addition, there are many powerful tools available today to effectively manage the 3 purchasing classes, namely
- strategic production purchases: approximately 10% of the order volume.
- strategic purchases outside of production: approximately 30% of order volume.
- and non-strategic purchases: approximately 60% of the order volume.
Thanks to digitalization, the purchasing department can effectively manage all acquisitions, with possible productivity gains estimated at between 15 and 20%, depending on the company.
Comparison of purchasing digitalization tools
There are many powerful software programs on the market to digitize a purchasing process. However, not all of them offer the same possibilities and it is therefore necessary to draw up a specification of the company’s needs:
- Inventory of current procedures to evaluate the integration possibilities of each software.
- Description of requirements (operational needs, reporting, monitoring and automation).
- Definition of the desired areas of improvement to evaluate the added value of each tool.
Some companies decide to develop internal tools for purchasing management. Nevertheless, market solutions are numerous and efficient. It can be interesting to be accompanied by an external firm to evaluate the current strengths and weaknesses of the company. A firm will then help you identify the best way to optimize purchasing procedures when digitizing the department.
Spendesk is an easy to use but very complete tool that allows an efficient management of expenses thanks to their centralization in a unique interface. This tool incorporates many pre-programmed functionalities, such as expense reports, supplier invoices or company cards.
It is a software appreciated by very small companies in its basic formula, but it is also aimed at SMEs and large companies thanks to an unlimited version and another customized version.
Spendesk allows you to define validation strings and assign expense amounts per user. Receipts are collected automatically by encouraging users to scan their receipts. It is an efficient way to decentralize the life of the company while keeping an appropriate level of control.
Spendesk does not communicate on its prices.
Libeo is a young French start-up that has managed to make a name for itself among the big players in the market thanks to a flexible and intuitive software for digitizing purchasing procedures. In particular, it is one of the only tools to integrate supplier payments.
LIBEO allows you to automate the management of orders and supplier invoices, to define a chain of approval and to manage supplier payments. A customer billing component is also being considered to complete the offer.
This software, particularly optimized for the restaurant and hotel sector, can be adapted to the needs of the company, as shown by the large number of APIs available (Cegid Loop, QuickBooks, Welyb…).**
LIBEO offers a single rate of 30€ / month with unlimited invoices and up to 2 users (+10€ per additional user)
One of the pioneers of the sector, which appeared in France in 2010, has grown steadily over the past decade to become a major player in the market and a company with more than 200 employees present in some 30 countries.
This dematerialization tool for invoices allows to automate all the steps, from the purchase order to the validation in order to gain in efficiency.
Particularly adapted to multi-site companies, this tool can be adapted to meet the needs of all types of companies, regardless of their sector of activity.
Yooz is offered from 99€ / month.
Oxalys is a flexible and complete software, which is intuitive and easy to use.
It can manage all aspects of your company’s purchasing procedures: source-to-contract, P2P, purchasing management, supplier relationship management. In addition, it integrates with most ERP systems and can be connected to external databases.
It is an ambitious software, which is aimed at companies of a certain size, large groups or public organizations rather than VSEs and small SMEs.
Oxalys is proposed at 490€ / month for 10 to 20 users.
In its complete version, this tool allows you to manage the entire expense chain.
Highly effective, it was recently named among the best software on the market in all purchasing categories by the IDC report: Procure-to-Pay, e-Procurement, e-Sourcing, Supplier Relationship, Spend Analysis, Contract Management.
This is the solution chosen by major groups such as Alstom, Suez, Engie, Carrefour, Lufthansa, Sanofi and Groupama.
Synertrade does not communicate on its prices.
Jefacture.com is aimed directly at accounting firms and their clients.
The application integrates various functionalities: multi-source invoice collection, legal controls and alerts, archiving for a period of 10 years, supplier payments, etc.
The billing method is per invoice (0,19€ / validated invoice)
Regate.io is aimed at businesses and accountants.
Regate.io is a financial cockpit that includes all the functionalities related to the customer and supplier cycles. Like Spendesk, Regate.io also includes an expense report component with an approval circuit. The Regate team is also working on the implementation of payment cards for expense reports.
The rates are evolving according to the number of invoices processed and the number of users and start at 80€ HT / month for 100 invoices and up to 10 NDF users.
The 2020 Finance Act
Between 2024 and 2026, all French companies will have to introduce electronic invoicing. The digitalization of purchasing and dematerialization are therefore no longer just an area for improvement, but a legal obligation.
The choice of a purchasing digitalization tool adapted to your needs is more than ever on the agenda. Don’t hesitate to ask for professional support in this digital transition of the purchasing department, in order to make the most of this opportunity for your company.
At Altermès, we have business and IT teams capable of supporting you in :
- Understanding and mapping of the P to P process
- Understanding of the computer environment
- Evaluation of the company’s strengths and weaknesses
- Definition of priority needs
- Choice of the most suitable tool for the company’s needs
Please contact us to discuss your project
👆 Don’t hesitate to contact us to discuss your project!