Procurement is the act of buying goods or services, customarily for business purposes and issues, dealing with requisitions, purchase requests and other logistic related activities. It is one of the most fundamentally overlooked processes in a modern day company despite having critically significant influence on a business’ budget, considering it is common to purchase necessary items in bulk. Taking into account that the traditional procurement process has entirely been done manually for all these years, it has proven to present a series of challenges that disrupts the efficiency on multiple levels.

One of the biggest difficulties in the procurement process is obtaining approval in the first place. In an office space this procurement procedure is followed by a chain of approval before a purchasing decision is finalized. It could rotate gradually from a supervisor to CEO and so on, resulting in a bunch of paperwork and additional stress for as little as, suppose a single office commodity. Not to mention the amount of prestigious time that has been wasted behind successfully executing such orders.

It can also be quite evidently seen in some cases that the procurement and accounting departments struggle heavily in terms of accountability and responsibility, as procuring and keeping track of hundreds of daily purchases is very difficult and tedious to say the least. 22% of small businesses are victims of check fraud and payment tampering. This potentially leads to budget leakage and ends up being exceptionally costly for a company per year.

Procurit confronts these very challenges head on, and provides practical and coherent solutions. Using an inhouse software and a very user friendly interface, Procurit fully handles and keeps track of the procurement procedure online. By getting things done such as receiving approvals and confirming purchase orders with just a click of a button, it efficiently dissolves all the plausible problems successfully. Procurit also has features to keep track of petty cash and installment payments for bills to add on to its attributes in aspect of productivity, which no other competitor of it has previously done in Bangladesh. Most of its subscription based services are free of cost but for all the premium functionalities it only costs an economical sum of 10 USD per month, which can still be considered a bargain in terms of the cost of similar such services. Procurit is in constant growth and development, and further aims to advance and make progress at higher rates in the near future.

Writer: Eram Abdullah