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VideosNovember 17, 2021
Penny Software: Helping Organizations Digitize Their Procurement Processes from A to Z
- Written by Sandra Francisco
- Published: November 17, 2021
Iyad Aldalooj, Co-Founder and CEO at Penny, explains how cloud-based procure-to-pay system Penny Software can help organizations digitize their procurement processes from A to Z.
"Penny Software is an enterprise software. We serve midsize to large size organizations. They vary from private to government and semi-government companies. We help them completely digitize their procurement processes from A to Z. Our enterprise software serves as a software and a service. It is a SaaS software that is cloud based that provides a procure-to-pay and full digital procurement and sourcing management", says Iyad Aldalooj.
"We have a complete procure-to-pay software, which means that an organization can manage their procurement, from the request all the way to the payment, going through the full procurement cycle. We also have lighter products that focus only on the sourcing side of procurement which include our E-Source product which digitizes the sourcing part. We serve customers, not only in Saudi Arabia and the region, but our product caters to serve global customers. In Saudi, we have the Penny Community which is a B2B marketplace that helps people and companies that are using Penny to do business with each other. It is a B2B platform where companies can source and find new products and new services. In a way, we have one product, but it is a modular product. Companies can take different parts of the product which is why we put them in the website as different packages. But in reality, it is the same product. The product is very flexible and very modular so companies can choose the modules that they need. When we take the procurement journey and break it down, from raising the request all the way to submitting a payment, it is a journey that goes through multiple stages. At Penny, we created modules where every step of that journey is an independent module. They can take the modules and integrate them with their own ERP system so they do not have to repeat what they already have. It could also act independently. On our website we created these packages, but they are not rigid packages and they are always flexible", he adds.
ABOUT PENNY: Penny is a cloud-based procure-to-pay system, enabling users digitize and manage their full procurement cycle from request to approval. With Penny, they can manage RFQs (requests for quotation), RFPs (requests for proposal), and RFIs (requests for information) to vendors, compare quotations, send purchase orders, and even payment. Penny was designed to make things easy and consolidate all of an organization’s spending needs into one intelligent system.
For more information, please visit: https://penny.co.
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