Purchasing refers to the transactional activities involved in acquiring goods and services. It’s the day-to-day process of buying what your company needs, ensuring you get the right quantity, quality, at the right price, delivered at the right time, to the right location. This includes tasks like creating purchase orders, negotiating with vendors, receiving deliveries, and processing payments.

Purchasing a subscription might seem like a simple transaction, especially when it comes to self-serve SaaS. Procurement, on the other hand, is the broader strategic function that encompasses the entire lifecycle of acquiring and managing these cloud-based solutions. It starts with identifying a specific business need and then progresses through several key stages.

What are the key distinctions between purchasing and procurement?

While purchasing and procurement both contribute to the acquisition of goods and services, they approach the process from fundamentally different perspectives.

How does a SaaS Management Platform help with procurement and purchasing?

Businesses are increasingly turning to SaaS Management Platforms (SMPs) to streamline and optimize both their procurement and purchasing processes. These cloud-based solutions offer a range of functionalities that empower organizations to gain greater control over their spending and achieve strategic sourcing goals.

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Procurement vs. purchasing: What’s the difference?

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Level up your SaaS procurement! Understand key differences between procurement and purchasing to optimize your spending and maximize ROI.

Master Service Agreement (MSA) vs. SLA: What’s the difference?

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Learn how the right agreement optimizes vendor relationships, simplifies future contracts, and streamlines spend management for your SaaS subscriptions.

Master Service Agreement Checklist: 21 key things to consider

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Discover key tips for making the most out of an MSA so you can optimize vendor relationships, simplify contracts, and streamline your spend management.

SaaS Procurement glossary: Key terms for every Procurement professional

Optimize your SaaS procurement. Gain a clear understanding of essential terms with this detailed SaaS procurement glossary.

Software Asset Management tools: What businesses need to know

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See how Software Asset Management (SAM) tools help businesses track and manage the lifecycle of on-premises software, reduce costs, and drive efficiency.

Orchestrating Your Procurement Processes: Streamline, Optimize, and Accelerate with AI

Orchestrating Your Procurement Processes: Streamline, Optimize, and Accelerate with AI Play Video In today’s dynamic business landscape, efficient and strategic procurement is no longer a luxury, it’s a necessity. Navigating the complexities of sourcing, negotiating, and managing everything from software to services can be overwhelming and time consuming given the number of stakeholders involved. Enter…

Orchestrating your Procurement processes: Streamline, optimize, and accelerate with AI

In today’s dynamic business landscape, efficient and strategic procurement is no longer a luxury, it’s a necessity. Navigating the complexities of sourcing, negotiating, and managing everything from software to services can be overwhelming and time consuming given the number of stakeholders involved. Enter procurement orchestration: a powerful approach that unites your procurement processes, tools, and…