To manage a procurement system effectively, stakeholders must do more than just implement the best procurement software out there. It requires timely, ongoing attention to ensure optimal utilization for delivering continuous strategic value and driving efficiency in procurement.

The first step in ensuring that a procurement system is managed properly is ensuring that all information stored in it is accurate, consistent, and up-to-date. As this forms the foundational layer of all procurement processes and workflows, everything, from supplier information to item catalogs and contracts, must be accurate and reliable to ensure consistency.

The next step is offering comprehensive onboarding and training to all users (procurement team, requestors, and approvers) to keep system utilization high and enforce compliance on all procurement processes. Regularly reviewing workflows ensures optimal performance and eliminates any bottlenecks that may arise.

To maintain the procurement process within the system, onboarding suppliers and streamlining interactions are essential to ensure all conversations take place within a unified system. Procurement systems today don’t follow a once-and-done approach. As vendors regularly release system updates, patches, and new features, it is vital to deploy these updates as soon as possible to stay current.