Many organizations are working towards creating a smooth and reliable management system for their businesses. Well-established procurement services are vital in tracking and managing purchases in a company. Procurement software is the best tool for generating and maintaining inventories of materials acquired by companies. The software helps businesses cut down the procurement expenses. Procurement Software is a program that allows organizations, companies or businesses to automate purchasing of materials and maintaining inventories. The software can be used to generate and verify purchase orders, send an order for goods and services, match invoices to the products and services received, and pay for the products online. The procurement office can monitor the flow of new materials into a company. With a procurement software, an organization cannot acquire new materials without approval from the procurement department. Procurement software has features that perform requisition processes, follow up on purchases, maintain physical inventories, execute bill payments, archive important documents, manage associated risks, and provide tools for signing documents electronically. Procurement Software has many benefits to an organization. The software can analyze and generate business intelligence data that can be used to increase the profits of the company. The software also provides a collaborative platform which organizations can share ideas with the suppliers.