Penny Software
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What is Penny Software?
Penny Software is a cloud-based Procurement platform that manages source-to-pay workflows, including purchase requests, sourcing, supplier records, contracts, purchase orders, invoices, and payments. The platform provides configurable forms and approval workflows for procurement and finance teams.
Key Capabilities
- Purchase intake and approvals: Captures purchase requests through structured forms and routes them through approval checks.
- Sourcing and supplier management: Supports RFIs, RFPs, and RFQs, supplier communication, bid comparison, and supplier onboarding records.
- Purchase orders and contracts: Creates purchase orders from approved requests and links purchasing activity to supplier records, budgets, and contracts.
- Invoice and payment management: Supports goods-receipt records, invoice handling, and supplier payments, placing Penny in the Accounts Payable category.
- Spend controls: Tracks budgets and purchasing activity to support Spend Management across procurement workflows.
- AI-assisted procurement: Provides conversational support for creating and querying purchase requests, along with AI-supported negotiation of commercial terms.
- ERP connectivity: Supports data imports and automated connections with ERP systems.
Audience & Use Cases
- Audience: Procurement, finance, purchasing, and supplier-management teams.
- Use cases: Standardizing purchase requests, managing sourcing events, controlling spend, maintaining supplier records, and processing procure-to-pay transactions.
Technical Specifications
- Deployment: Cloud-based.
- Configuration: Forms, approval processes, and policy rules are configured within the platform.
- Integrations: ERP data connections and bulk data uploads.
Categories & Use Cases
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Technical Details
| Deployment Types | SaaS |
|---|---|
| Mobile Application | No |
FAQs
What is Penny Software?
Cloud-based E-Source / Procure-To-Pay system that automates RFQs/RFPs, provide comparison and analysis. and push to maximizing savings. Penny can be used to cover the procurement cycle partially or completely. From request > processing internal approvals > dispatching RFQs/RFPs > gathering quotations/proposals > sending POs > receiving materials (GRN) > billing > payment. All steps are automated in a storyline without a need to disconnect at any stage.
How much does Penny Software cost?
Penny Software starts at $50000.
What are Penny Software's top competitors?
JAGGAER, SAP Ariba, and Precoro are common alternatives for Penny Software.