Simply upload a spreadsheet with your suppliers’ email addresses.
Once you upload your supplier email address spreadsheet, Smartcat automatically generates a single invoice for all payees.
In just a few clicks, confirm that all payment details are correct and pay one invoice for all your suppliers.
Smartcat automates the exchange rate process, so you can pay in your own currency via the linguist’s preferred method.
Move on from time-consuming, manual payroll supplier management with Smartcat
Smartcat takes care of the details so you can pay up to hundreds of suppliers with ONE invoice.
Pay via bank transfer for $0 transaction fee. You can also pay via PayPal or credit card for a small processing fee.
Smartcat is your only counterparty, so you can pay suppliers anywhere in the world on any continent.
With Smartcat, you don’t need to request and manage each supplier’s sensitive data, such as bank details. Simply provide their email address and Smartcat handles the rest.
Smartcat is not just a translation database but an actual Translation Management System for everything related to translation work. We now have clear visibility of our costs, workload, and status of translation work instantly. This is a game-changer compared to the manual and lengthy processes we used to have.
Program Engagement Manager at Topcon
When choosing a type of procurement software, it is a good idea to analyze and identify your company’s procurement needs and benchmark possible providers against this list. For instance, you may require a linguist marketplace of translators, editors, and agencies; the ability to onboard them; contractual and legal coverage; and invoicing, accounting, and payment features. It is also important to gauge the procurement platform in action. A leading provider should be happy to provide a free trial period, which can give you a strong idea of how suitable the procurement software is for your needs.
The different types of e-procurement (electronic procurement or supplier exchange) are e-tendering, e-auctioning, e-informing, e-purchasing, e-ordering, e-invoicing, e-contract management, catalog management, and vendor management.
E-procurement allows organizations to hire and manage service or goods suppliers online. An e-procurement system typically includes features that are made possible as they are online, to optimize the overall procurement process. These include supplier onboarding and contractual requirements, management, and payment. It may also include a common workflow environment, so companies and suppliers can work together and communicate.
Procurement software enables organizations to optimize their entire supplier lifecycle, from sourcing to payment processing. It does this by using automation to assist supplier sourcing and onboarding, analyze supplier budgets and expenditure, standardize the purchasing process, and manage supplier invoices and payment.
A good procurement software solution should provide the following 11 features:
Ease of use
Ease of integration with third-party software
Ease of user accessibility
Supplier lifecycle management
Simplified, efficient workflow
Data-driven and able to generate data-rich reports
Unified, all-in-one platform
E-procurement reduces costs in various ways. These include reducing or eliminating duplicate expenditure; uses automation to eliminate manual, time-consuming tasks and human error; supports optimal vendor relationship management, which in turn improves supplier retention rates; supports ongoing budget and expense analysis; centralizes expense management, which improves accounting visibility; and helps drive spending behavior and trend understanding for improved purchasing decision making.
Procurement software helps organizations to get the most out of their supplier investment. It centralizes supplier budget and financial performance analysis to assist in more refined, sharper, informed financial decision making and identifies areas of weakness in the supplier chain and supplier network to be addressed. It also provides an essential means for organizations to manage their supplier relationships and maintain them in an optimal way that is conducive to business growth.
Leading procurement software platforms also support workflow efficiency and help organizations to address many challenges by unifying the supplier chain in one centralized software solution. These challenges include compliance, legal and contractual requirements, and supplier payment.
A leading e-procurement platform provides the foundation and support that organizations need to manage procurement processes online. It uses automation to take care of the steps in the supplier chain, including sourcing, onboarding, contracts, workflow management, invoicing, and payment processing.
An integrated procurement system (IPS) is a type of procurement software that brings all the steps in the procurement process together, from procure to pay. At its core, an IPS automates many of the steps along the supplier lifecycle and supports optimal communication between an organization and their suppliers.
“Procurement” and “sourcing” are often used interchangeably, but there is an important difference. The sourcing of external suppliers refers to the process of identifying the right service or goods provider. Supplier procurement refers to the streamlining of the sourcing process, including negotiating terms and conditions, such as fees and turnaround times.