A Guide To Choose The Right Procurement Software For Small Businesses

Procurement as an important function for small businesses

Procurement, which is the act of buying of goods or services by a company has grown into a full-fledge activity of tracking and selecting the right tools in order to be profitable.

Procurement software for small business has successfully redefined the entire P2Pprocess, right from procurement to payment to the vendors.

TYASuite is the best procurement software for small business as it enables you to make a timely, safe, and accurate purchasing decision, all of which is vital for the growth of your small business.

Point to consider before buying procurement software for small business

According to Apps Runs The World, the procurement application market is expected to reach $5.45 billion by 2025.

As large business houses realize the importance of procurement software, the small businesses too, do not want to be left behind. They too want to grab a share in the pie! 

Choosing the right procurement software for small business from hoards of software companies is surely an uphill task. In this blog TYASuite will make things simpler for you and guide you through the process of choosing the best P2Psoftware.

Is procurement software built for my industry? Which procurement software is best for my business?

Retail, manufacturing, transportation, logistics and Healthcare are few examples of industries which use procurement software.

TYASuite has served both small and large companies across various domains for best procure to pay solutions. Our procure to pay (P2P) solution is flexible enough to suit across all the industry types. 

Below are few features to consider before buying the best procure to pay (P2P) solution for your small business

1. Vendor management and buying efficiency.
2. Multi-layer approval process based on cost centers.
3. Provide transparency to suppliers.
4. Enable accurate purchase decisions based on past patterns.
5. Inbuilt billing and invoicing.
6. Cash management with audit trail.
7. Budgeting and forecasting to make informed business decisions.
8.  Easy alerts and notifications.
9. Highly customized and flexible.
10.  Removes the need for manual processing as it automates the entire function in one platform.

TYASuite procurement software for small business solving the issues of small businesses

Here are the few challenges which small businesses face today and how TYA Suite procurement software for small business solves them:

Challenge#1: Payment to vendors eats too much of our accounting time, each vendor has to be properly paid since there can be duplication too.

Solution: With our procurement software, small firms can make payments simultaneously to small vendors without the risk of duplication. Small businesses can also automate intimations to vendors for payments through procure to pay solutions.

Challenge#2:TDS deductions are always there to stay, with GST for few of our vendors things are complex and there is no room for error

Solution: Procure to pay solution automates the TDS deductions at an item level. There are other features like automatic GST calculation, adding pre-paid invoices, automatic debit note raising and built in approvals.

Challenge#3:Though we keep a track of the cash flow I want to get all relevant information in a single click.

Solution: At TYASuite we very well know that unless any business keeps a track of their income and expenses intact, things might go out of control. With procurement software for small business it becomes easy to manage the cash flow. Small businesses can get this information at a single click.  Great user interface (UI) and flexibility in the software makes it a cake walk and arrive at profitable business decisions.

Challenge#4:What about my legacy system? What will be the downtime for implementation?

Solution: It is rightly said that: It is not the strongest or the most intelligent who will survive, but those who can best manage change…. 

TYASuite being the best Procurement software for small business, instantly connects with your legacy systems. In fact this is one of our core feature of Procure to Pay (P2P) solution. The easy integration will save your time and resources too.

Challenge#5:Since our suppliers and vendors are our lifeline, how does TYASuite help manage them?

Solution: At TYASuite we very well know that vendors are an integral part of your business, our procure to pay software include features which will onboard every vendor seamlessly, manage vendor pricing, automate debit and credit notes as well as map vendors to their respective cost centers. TYASuite is the best procurement software for small business.

Challenge#6:I usually do micro management and rely heavily on the reports. What are the reports I can pull up using TYASuite (P2P) solution?

Solution: Our customized in-depth report will give you meaningful insights into the businesses in order to make timely decisions. At the click of mouse you can generate accurate reports in various formats, giving you enough insights to make intelligent, data-backed decisions.

Conclusion: TYASuite cloud-based software has been instrumental for many start up as well as small businesses. Our main USP lies in the fact that small businesses need to manage vendor relations as well as save money, both of these are offered in our cloud solution which makes us the number one choice for procurement software for small business.

Our clients adore us for the value for money we bring to mid-size organizations too. With user-friendly interface, cost reduction and 24*7 support TYASuite plug and play procurement software is one of the best procure to pay solutions in the market.