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While there are dozens of procurement software solutions available, there are really only two types offered: "on-premise" procurement software and newer "ondemand" procurement software. This paper outlines an approach to compute and compare the Total Cost of Ownership (TCO) for on-premise procurement software vs. on-demand.

Procurement software enables organizations to save time, money, and effort throughout the procure-to-pay cycle. It has a direct and immediate ability to cut costs and control spending.