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Penny

FOUNDED : 2020

LOCATION : Middle East, Saudi Arabia

TEAM SIZE : 11-50

SOLUTION MATURITY : Startup

FUNDING ROUND : Seed

TOTAL FUNDING RAISED ($m) : $5

Core functionality
Sourcing
Additional functionality
S2P: E-Procurement
Source / Procure-to-Pay (S2P and P2P)
Description

penny is a cloud-based procure-to-pay (P2P) system, helping you to digitise and manage your full procurement cycle from request to approval.

The platform is intended for use by procurement specialists, purchasing managers and senior buyers. It allows you to allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams and more. Additionally, it offers various user levels with fully customisable roles and privileges as per your organisation’s needs.

penny streamlines procurement requests, approvals, and POs, while allowing you to easily track your records of requests and purchases. Reports and analysis can be extracted from the platform, giving you a consolidated data centre for all your procurement activities.

The platform also allows you to create a catalogue of your vendors’ products, giving your team an e-commerce-like experience, and giving you accurate ordering with fewer purchasing mistakes .

penny was designed to make things easy and consolidate all of your organisation’s spending needs into one intelligent system.

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