Modern-age procurement is pressed for cost savings to enhance the profit margin for the organization. They are even pushed to manage the company’s source-to-pay cycle under resource constraints. Thus to meet the challenges, organizations must invest in technology that mainly focuses on two aspects: Enabling the workforce with better-equipped tools to make a knowledgeable purchase and through approved suppliers to realize the negotiated price and managing the source to pay cycle effectively. This incorporates the need to find and evaluate the potential suppliers, negotiate terms and costs along with quick onboarding of the approved supplier.