Top 10 eProcurement Platforms: Features, Pros, Cons & Comparison

Introduction

eProcurement platforms are specialized digital ecosystems designed to move the traditional manual purchasing process into a fully integrated online environment. These systems facilitate the electronic acquisition of goods and services, ranging from initial requisitioning and sourcing to final payment and supplier performance evaluation. By leveraging cloud computing and real-time data exchange, eProcurement platforms eliminate the inefficiencies of paper-based workflows, providing organizations with a centralized hub for all spend-related activities.

Modern eProcurement matters because it provides the granular visibility required to manage complex, multi-national supply chains. In an era where cost control and regulatory compliance are paramount, these platforms act as a safeguard against fraudulent activities and non-compliant spending. They enable procurement teams to leverage aggregate data to negotiate better terms with vendors, while simultaneously providing employees with a user-friendly interface that mimics the simplicity of personal online shopping.

Real-World Use Cases

1. Catalogs and Punchouts: An organization integrates its platform with a major office supply vendor, allowing employees to select items directly from the vendor’s website while the platform automatically handles the approval and PO process.
2. Electronic Invoicing (e-Invoicing): A global firm receives thousands of digital invoices daily that are automatically matched against purchase orders and receipts, reducing the AP workload by over seventy percent.
3. Reverse Auctions: A construction company uses e-procurement to host a live bidding event where suppliers compete in real-time to offer the lowest price for a specific raw material contract.
4. Supplier Information Management: A utility company maintains a central portal where all vendors must upload their latest insurance certificates and safety certifications to remain eligible for work.
5. Spend Visibility: A non-profit uses dashboard analytics to identify that different departments are buying the same software licenses at different price points, allowing them to consolidate into a single enterprise agreement.

Evaluation Criteria for Buyers

• User Experience (UX): Is the interface simple enough for occasional users to navigate without a manual? Adoption rates depend heavily on the “shopping cart” feel.
• E-Invoice Compliance: Can the platform handle the legal requirements for digital signatures and tax compliance in every country where you operate?
• Supplier Network Size: How many active vendors are already part of the platform’s ecosystem, reducing the time spent on manual onboarding?
• Integration Capabilities: Does the platform offer “out-of-the-box” connectors for your specific ERP and accounting software to ensure data integrity?
• Analytics and Forecasting: Does the system provide predictive insights into future spending trends rather than just historical reports?
• Total Cost of Ownership: Beyond the license fee, what are the costs associated with implementation, supplier fees, and ongoing maintenance?
• Mobile Accessibility: Can the platform support the full lifecycle of requests and approvals via a secure mobile application for remote teams?

Best for: Procurement departments, supply chain managers, and CFOs in growth-stage to enterprise organizations looking to digitize their spend management.

Not ideal for: Micro-businesses with very low transaction volumes or companies that prefer traditional manual checks and balances without a digital audit trail.

Key Trends in eProcurement Platforms

• AI-Driven Guided Buying: Systems now use machine learning to suggest the most sustainable or cost-effective vendor to a user at the exact moment of request.
• Predictive Risk Modeling: Using external data feeds to predict when a supplier might fail due to financial, environmental, or geopolitical factors.
• Embedded Financing: Procurement platforms are increasingly offering “Buy Now, Pay Later” or supply chain financing options directly within the checkout flow.
• Zero-Touch Invoicing: The goal of moving toward a future where every invoice is received, matched, and scheduled for payment without a single human click.
• ESG Reporting Modules: Automated tracking of “green” spend and supplier diversity metrics to meet new corporate social responsibility mandates.
• Modular Microservices: A shift away from monolithic software toward modular “apps” that can be added or removed based on specific procurement needs.
• Natural Language Processing (NLP): Chatbots that allow employees to “ask” the system to find a specific item or check a budget status using standard speech or text.
• Enhanced Cybersecurity: Implementation of multi-factor authentication and advanced encryption to protect sensitive financial and supplier data.
• Real-Time Market Benchmarking: Comparing your negotiated prices against global market averages instantly to ensure competitiveness.
• Collaborative Sourcing Portals: Digital rooms where buyers and sellers can co-create product specifications and negotiate terms in a single thread.

How We Selected These Tools (Methodology)

The selection of these top eProcurement platforms is based on a rigorous evaluation of the current technology landscape:

• Analysis of market presence and the ability to support diverse industries and global locales.
• Assessment of the breadth of functionality, from simple purchasing to complex strategic sourcing.
• Evaluation of the platform’s ability to facilitate seamless communication between buyers and suppliers.
• Verification of security standards and compliance with international data protection laws.
• Review of vendor reputation regarding implementation support and long-term customer success.
• Examination of the platform’s adaptability to various organizational sizes and procurement maturities.
• Assessment of the innovation roadmap, specifically concerning artificial intelligence and automation.

Top 10 eProcurement Platforms

1.SAP Ariba

As the most recognized name in the industry, this platform connects millions of businesses through a massive global network, providing unmatched scale for enterprise procurement.

Key Features

• Global Business Network: Access to a vast directory of pre-registered suppliers to speed up the discovery and onboarding process.
• Strategic Sourcing: Tools for managing complex, multi-round RFPs and auctions for high-value contracts.
• Guided Buying: A user-friendly interface that directs employees to preferred vendors and contract-compliant items.
• Supply Chain Collaboration: Real-time data sharing with manufacturers and logistics providers to prevent bottlenecks.
• Dynamic Discounting: Tools that allow buyers to pay early in exchange for discounts, improving supplier relations.
• Spend Analysis: Advanced visualization of historical data to identify leakage and consolidate vendor spend.

Pros

• Deep integration for organizations already utilizing the broader SAP ecosystem for their financial data.
• The sheer volume of suppliers on the network makes it the standard for global trade.

Cons

• The complexity of the system often requires a specialized internal team to manage and optimize.
• Implementation can be a lengthy and resource-intensive process for larger organizations.

Platforms / Deployment

• Web / iOS / Android
• Cloud

Security & Compliance

• SOC 1, SOC 2, ISO 27001
• GDPR, HIPAA compliance

Integrations & Ecosystem

Native integration with the SAP suite is the primary draw, though open APIs exist for other systems.

• SAP S/4HANA
• SAP Fieldglass
• Third-party ERPs via Ariba Cloud Integration Gateway

Support & Community

Extensive resources including global user groups, a dedicated learning hub, and 24/7 enterprise support.

2.Coupa

Coupa is built on the philosophy of “Business Spend Management,” offering a cloud-native experience that prioritizes user adoption and community-based insights.

Key Features

• Community Intelligence: Uses anonymized data from all customers to provide benchmarks and identify saving opportunities.
• Unified Platform: Single interface for procurement, expenses, payments, and treasury management.
• Coupa Advantage: Instant access to pre-negotiated contracts with popular vendors for immediate savings.
• Smart Check: AI that identifies potential errors or fraudulent activity in invoices before they are processed.
• Inventory Management: Real-time tracking of consumables and assets across multiple business locations.
• Contract Lifecycle Management: Full visibility into contract terms, renewal dates, and compliance status.

Pros

• High user adoption rates due to an interface that feels like modern consumer e-commerce.
• Rapid innovation cycle with frequent updates based on community feedback.

Cons

• High license costs can be a barrier for mid-sized companies with limited procurement budgets.
• Configuring highly specific legacy workflows can sometimes be challenging in their standardized environment.

Platforms / Deployment

• Web / iOS / Android
• Cloud

Security & Compliance

• SOC 1, SOC 2, ISO 27001, FedRAMP
• GDPR, CCPA

Integrations & Ecosystem

A massive library of pre-built connectors for modern cloud applications and legacy systems.

• NetSuite
• Oracle
• Microsoft Dynamics
• Workday

Support & Community

A vibrant user community and the “Coupa University” provide deep training and networking opportunities.

3.GEP SMART

GEP SMART stands out as a unified platform where every module is built on a single technology stack, ensuring perfect data flow from sourcing to payment.

Key Features

• AI-First Architecture: Deep integration of artificial intelligence for data classification and market intelligence.
• Unified Codebase: No data silos because sourcing, contracting, and AP are all part of the same original software.
• Mobile Procurement: Full feature parity on mobile devices, allowing for strategic tasks on the move.
• Category Management: Specialized workflows for managing distinct categories like IT, travel, or logistics.
• Supplier Portal: A high-functionality hub where vendors manage their own compliance and documents.
• Savings Tracking: Built-in tools to measure realized savings against procurement goals in real-time.

Pros

• Very cohesive user experience across all modules, reducing the need for cross-training.
• Highly praised for its customer-centric approach to implementation and support.

Cons

• The depth of features can be overwhelming for smaller procurement teams with simple needs.
• Requires a disciplined approach to data management to get the most out of the AI features.

Platforms / Deployment

• Web / iOS / Android
• Cloud

Security & Compliance

• SOC 2 Type II, ISO 27001
• GDPR, HIPAA

Integrations & Ecosystem

Modern cloud architecture designed to sit on top of any existing ERP system.

• SAP
• Oracle
• Microsoft Dynamics
• Infor

Support & Community

Direct access to account managers and a comprehensive technical support network for global clients.

4.Ivalua

Ivalua is the platform of choice for organizations that need extreme flexibility and the ability to customize workflows without writing custom code.

Key Features

• No-Code Configuration: Allows users to modify fields, workflows, and business rules without developer help.
• Direct Material Excellence: Specialized features for manufacturing firms managing complex bills of materials.
• Full S2P Coverage: Integrated modules for every step from sourcing to final payment reconciliation.
• Supplier Innovation: Tools to collaborate with vendors on product design and sustainability initiatives.
• Global Compliance Engine: Automatically adapts to local tax and legal requirements in over seventy countries.
• Master Data Management: Acts as a single source of truth for all supplier and item data.

Pros

• Unmatched flexibility for businesses with non-standard processes or unique industry requirements.
• Strong performance in both direct (manufacturing) and indirect (office) spend categories.

Cons

• The initial setup and configuration phase is more intensive than standardized competitors.
• Requires a high level of internal expertise to fully leverage the configuration capabilities.

Platforms / Deployment

• Web
• Cloud / Hybrid

Security & Compliance

• SOC 2, ISO 27001, FedRAMP
• GDPR, HIPAA

Integrations & Ecosystem

Strong API support for connecting to a wide range of legacy and modern business systems.

• NetSuite
• SAP
• Salesforce
• Legacy mainframes

Support & Community

Onboarding through a global partner network and specialized training for system administrators.

5.Jaggaer

Jaggaer provides specialized eProcurement solutions with a strong heritage in sectors like higher education, government, and life sciences.

Key Features

• Vertical-Specific Solutions: Tailored modules for lab supplies, research grants, and public sector bidding laws.
• Chemical Inventory Management: Specialized tracking for hazardous materials and regulated substances.
• Modular Approach: Organizations can start with one module and scale up as their procurement matures.
• Collaborative Sourcing: Tools for running multi-stage bids with internal stakeholders and external vendors.
• Contract Authoring: Automated tools to generate contracts from pre-approved legal templates.
• Supplier Value Management: Focuses on the total relationship value rather than just the transaction price.

Pros

• Deep functional expertise in highly regulated and academic environments.
• Very flexible modular pricing that allows for controlled growth and investment.

Cons

• The user interface can feel slightly dated compared to the more consumer-centric cloud rivals.
• Some modules may feel less integrated if they were acquired rather than built in-house.

Platforms / Deployment

• Web
• Cloud

Security & Compliance

• SOC 2, ISO 27001, HIPAA
• GDPR

Integrations & Ecosystem

Proven track record of integrating with academic and public sector ERP systems.

• Banner / Ellucian
• Oracle
• SAP
• PeopleSoft

Support & Community

Highly specialized support teams who understand the specific needs of research and education sectors.

6.Basware

Basware is a leader in e-invoicing and purchase-to-pay solutions, specifically designed to handle the complexity of global financial operations.

Key Features

• Networked e-Invoicing: Connects to over two hundred global e-invoice networks for seamless cross-border trade.
• 100% Data Capture: Advanced OCR and digital capture technologies to ensure every invoice is digitized.
• Predictive Lead Times: AI that predicts when goods will arrive and when payments will be due based on history.
• Smart Coding: Automatically suggests GL codes for non-PO invoices to speed up the approval process.
• Early Payment Programs: Integrated financing options for suppliers to improve their cash flow.
• Touchless Processing: High rates of automated matching between POs, receipts, and invoices.

Pros

• Best-in-class for organizations with massive invoice volumes and complex international tax needs.
• Drastically reduces the administrative burden on the Accounts Payable department.

Cons

• The strategic sourcing and bidding capabilities are not as deep as specialized sourcing platforms.
• Implementation for multi-entity, global organizations requires significant planning.

Platforms / Deployment

• Web
• Cloud

Security & Compliance

• SOC 1, SOC 2, ISO 27001
• GDPR compliance

Integrations & Ecosystem

Specialized in acting as a bridge between multiple disparate ERP systems across a global enterprise.

• Microsoft Dynamics
• SAP
• Oracle
• Infor

Support & Community

Global support presence with a focus on enterprise-level service level agreements.

7.Oracle Procurement Cloud

Part of the Oracle Fusion Cloud suite, this platform is built for enterprises that demand high-level automation and deep financial integration.

Key Features

• Self-Service Portal: A streamlined shopping experience for employees to reduce maverick spend.
• Supplier Qualification: Automated ranking and vetting of vendors based on performance and risk data.
• Project-Based Procurement: Specialized tools for aligning purchases with specific project budgets and timelines.
• Unified Spend Reporting: Real-time visibility across all business units within the Oracle ecosystem.
• Collaborative Sourcing: Multi-user bidding environments with built-in analytical ranking tools.
• Social Procurement: Tools to share vendor feedback and ratings across the global organization.

Pros

• Native, seamless data flow for companies already running Oracle Cloud ERP or HCM.
• Built to handle the world’s largest transaction volumes with high stability and security.

Cons

• Can be complex for smaller teams without a dedicated IT or procurement specialist.
• The traditional enterprise interface may require more user training than simpler SaaS tools.

Platforms / Deployment

• Web / iOS / Android
• Cloud

Security & Compliance

• SOC 1, SOC 2, ISO 27001, FedRAMP
• GDPR, HIPAA

Integrations & Ecosystem

Optimized for the Oracle Cloud environment but supports standard web service integrations for others.

• Oracle ERP Cloud
• Oracle HCM Cloud
• Third-party logistics (3PL) providers

Support & Community

Access to a massive global support network and one of the largest enterprise user communities in the world.

8.Procurify

Procurify is a mid-market favorite that emphasizes simplicity, mobile approvals, and immediate budget visibility for non-procurement managers.

Key Features

• Real-Time Budget Tracking: Visual gauges show exactly how much budget remains before a request is approved.
• Mobile-First Approvals: A top-rated mobile app for managers to approve spending with a single swipe.
• Virtual Cards: Securely generate digital credit cards for one-time purchases with automatic reconciliation.
• Custom Approval Routings: Drag-and-drop builder for creating complex approval chains in seconds.
• Integrated Expenses: Manage both purchase requests and employee travel reimbursements in one place.
• Packing Slip Digitization: Use the mobile app to photograph packing slips for instant three-way matching.

Pros

• Incredible ease of use that ensures high adoption across all departments, not just procurement.
• Very fast implementation time, often getting companies up and running in under a month.

Cons

• Lacks the complex strategic sourcing and reverse auction features required by large global manufacturers.
• Reporting is clean and effective but lacks the deep “big data” analytics of enterprise suites.

Platforms / Deployment

• Web / iOS / Android
• Cloud

Security & Compliance

• SOC 2 Type II
• GDPR

Integrations & Ecosystem

Focuses on high-quality integrations with the most common accounting and communication tools.

• NetSuite
• QuickBooks Online
• Sage Intacct
• Slack

Support & Community

Highly responsive chat and email support with a dedicated customer success manager for every account.

9.Tipalti

Tipalti focuses on the intersection of procurement and global payments, making it ideal for high-growth tech firms with significant international spend.

Key Features

• Global Mass Payments: Execute payments in hundreds of countries and currencies with automated compliance.
• Self-Service Supplier Onboarding: Vendors manage their own tax and banking data through a secure portal.
• Integrated Purchase Requisitions: Unified flow from the initial request through to the final global payment.
• Tax Compliance Engine: Built-in W-9 and W-8 series form collection and validation for every vendor.
• Automated Reconciliation: Real-time sync with accounting software to ensure books are always closed on time.
• Fraud Prevention: Automated screening against global watchlists and blacklists for every transaction.

Pros

• Dramatically reduces the workload for AP teams dealing with international vendors and complex tax laws.
• The portal significantly reduces the time spent responding to vendor inquiries about payment status.

Cons

• The sourcing and RFP capabilities are basic compared to full-suite procurement platforms.
• Transaction-based pricing models can be a consideration for very high-frequency users.

Platforms / Deployment

• Web
• Cloud

Security & Compliance

• SOC 2 Type II
• GDPR, HIPAA

Integrations & Ecosystem

Deeply embedded with the financial stacks of modern, fast-growing technology companies.

• NetSuite
• Sage Intacct
• QuickBooks
• Xero

Support & Community

Specialized support for global payment regulations and technical integration assistance.

10.Precoro

Precoro is designed for small to medium-sized businesses that need to get out of spreadsheets and into a controlled, digital procurement environment quickly.

Key Features

• Visual Approval Workflows: Easy-to-understand diagrams for setting up department-level approval rules.
• Catalog Management: Create an internal “store” for employees to buy frequently requested items.
• Consolidated Invoicing: Combine multiple purchase orders into a single invoice for faster processing.
• Inventory Tracking: Basic tools for managing stock levels of office supplies and non-production items.
• Custom Reporting: Simple report builder for tracking spend by project, user, or department.
• Vendor Management: A clean database for storing vendor contacts, contracts, and performance history.

Pros

• Very low barrier to entry with transparent pricing and a high-speed setup process.
• Clean, modern interface that requires zero training for the average staff member.

Cons

• Lacks advanced enterprise features like multi-currency treasury management or complex sourcing.
• Not intended for large-scale manufacturing with deep supply chain integration needs.

Platforms / Deployment

• Web
• Cloud

Security & Compliance

• GDPR compliance
• SOC 2 (Roadmapped)

Integrations & Ecosystem

Simple and effective connectors for the world’s most popular SMB accounting and productivity tools.

• QuickBooks Online
• Xero
• Slack
• NetSuite

Support & Community

Direct access to helpful support staff and a comprehensive library of video tutorials and help guides.

Comparison Table

Tool Name	Best For	Platform(s) Supported	Deployment	Standout Feature	Public Rating
SAP Ariba	Global Enterprises	Web, iOS, Android	Cloud	Ariba Supplier Network	4.1/5
Coupa	Spend Management	Web, iOS, Android	Cloud	Community Benchmarking	4.7/5
GEP SMART	Unified S2P	Web, iOS, Android	Cloud	AI Data Classification	4.5/5
Ivalua	Custom Workflows	Web	Hybrid	No-Code Configuration	4.4/5
Jaggaer	Higher Ed/Gov	Web	Cloud	Vertical Specialization	4.3/5
Basware	AP/e-Invoicing	Web	Cloud	Global Networked Invoicing	4.0/5
Oracle Procure	Large Scale ERP	Web, iOS, Android	Cloud	Deep Financial Sync	4.2/5
Procurify	Mid-Market SMB	Web, iOS, Android	Cloud	Budget Visibility Gauges	4.6/5
Tipalti	Global Payments	Web	Cloud	International Tax Engine	4.8/5
Precoro	Fast SMB Growth	Web	Cloud	Simplified PO Generation	4.7/5

Evaluation & Scoring of eProcurement Platforms

Tool Name	Core (25%)	Ease (15%)	Integrations (15%)	Security (10%)	Performance (10%)	Support (10%)	Value (15%)	Weighted Total
SAP Ariba	10	6	10	10	10	8	7	8.85
Coupa	10	9	10	10	9	9	8	9.45
GEP SMART	9	8	9	9	9	9	9	8.90
Ivalua	10	5	8	10	9	8	7	8.25
Jaggaer	9	7	8	9	9	8	8	8.30
Basware	8	7	9	9	9	8	8	8.20
Oracle Procure	9	6	10	10	10	8	7	8.60
Procurify	7	10	9	8	8	10	9	8.65
Tipalti	8	9	9	10	9	9	9	8.95
Precoro	6	10	7	7	8	9	10	8.05

How to Interpret These Scores

• Weighted Totals: A score above 9.0 indicates a market leader with virtually no functional gaps for large organizations.
• Contextual Fit: A score of 8.0 for a tool like Precoro is excellent because it reflects high performance in its specific niche (SMB) despite lacking expensive enterprise-only features.
• Comparative Nature: Use these scores to rank tools within the same category (e.g., comparing mid-market tools against other mid-market tools).

Which eProcurement Platform Is Right for You?

Solo / Freelancer

Individual contractors rarely need a full eProcurement platform. For this group, the focus should be on expense tracking and a basic accounting tool that allows for receipt scanning. If you manage subcontractors, a simple “contract-to-pay” feature in your accounting software is usually sufficient.

SMB

For small but growing companies, the goal is to stop the chaos of email-based approvals and gain control over the bank account. You need a tool that can be set up by a finance manager without an IT degree.

• Recommendation: Precoro or Procurify.
• Why: These tools offer the fastest implementation times and the most intuitive user interfaces for employees who just want to get their work done.

Mid-Market

Mid-sized firms usually face the challenge of decentralized purchasing across multiple departments or locations. You need a platform that offers real-time budget visibility and the ability to scale globally as you expand.

• Recommendation: Tipalti or Coupa.
• Why: These platforms provide the right balance of user-friendly shopping and powerful backend financial controls, particularly for international payments and compliance.

Enterprise

Large corporations need a “platform of record” that can handle millions of transactions, support thousands of suppliers, and integrate with a complex existing IT landscape.

• Recommendation: SAP Ariba, GEP SMART, or Oracle Procurement Cloud.
• Why: These tools offer the extreme scalability and security required to manage global supply chains and massive procurement departments.

Budget vs Premium

If your primary goal is simply to digitize paperwork, a budget tool is fine. However, if your goal is to use data to negotiate millions in savings, a premium tool like Coupa or GEP SMART often pays for itself through the AI-driven insights it provides.

Feature Depth vs Ease of Use

If your procurement team is small and handles all buying, prioritize feature depth. If every employee in your company is a buyer, prioritize ease of use to ensure compliance and avoid system bypass.

Integrations & Scalability

Never choose an eProcurement platform that doesn’t natively speak to your ERP. Data silos are the enemy of procurement efficiency. Ensure the tool you choose today can handle the transaction volume you expect to have three years from now.

Frequently Asked Questions

What is the main difference between procurement and eProcurement?

Procurement is the general business function of acquiring goods and services. eProcurement is the specific use of digital platforms to automate and streamline that function, replacing paper and manual processes with online catalogs and digital workflows.

How much does eProcurement software cost?

Pricing varies wildly. SMB tools may start at a few hundred dollars per month, while enterprise suites can cost hundreds of thousands annually. Costs are typically based on the number of users, the number of modules, or the total volume of spend processed.

Can eProcurement tools help prevent fraud?

Yes. By enforcing “three-way matching” (ensuring the PO, the receipt, and the invoice all match) and requiring multiple levels of approval for large payments, these tools make it much harder for unauthorized or fraudulent transactions to occur.

Does eProcurement improve supplier relationships?

Usually, yes. Suppliers prefer these platforms because they provide a clear view of payment status, reduce invoice disputes, and provide a single channel for all communication and document sharing.

Is it hard to move my existing data into a new platform?

Data migration is the most critical part of implementation. Most providers offer tools to import your existing vendor lists and open purchase orders, but clean data is essential for a successful transition.

How does eProcurement help with sustainability goals?

These platforms allow you to tag suppliers based on their sustainability ratings. When an employee goes to buy a product, the system can automatically highlight the “greenest” option, helping the company meet its ESG targets.

What is “maverick spend” and how is it stopped?

Maverick spend occurs when an employee buys something outside of the approved procurement process (like using a personal credit card at a local store). eProcurement stops this by making the official process so easy and fast that employees have no reason to go elsewhere.

Can these tools handle multiple currencies and languages?

Enterprise-grade platforms are built specifically for this. They automatically calculate currency conversions at the moment of the transaction and provide localized interfaces for employees in different global regions.

Do I need to be an IT expert to use these tools?

No. Modern eProcurement platforms are designed for finance and procurement professionals. While IT will be involved in the initial integration, the day-to-day management is handled by the procurement team through a visual admin panel.

What is the ROI of an eProcurement system?

ROI comes from three main areas: direct savings through better price negotiation, process savings through automation (less manual data entry), and compliance savings by reducing unauthorized spending.

Conclusion

The transition to an eProcurement platform is no longer a luxury but a fundamental requirement for any organization seeking operational excellence. From the agile, mobile-first approach of Procurify to the global power of SAP Ariba, the tools available today can satisfy any business model or industry requirement. We recommend conducting a thorough internal audit of your current “pain points” and involving stakeholders from both finance and IT in the selection process to ensure long-term success.