Master Workday Procurement, where purchasing meets process excellence
From requisitions to supplier portals, here’s your complete glossary for mastering Workday Procurement essentials.
Procurement isn’t just about purchasing it’s about building smarter, transparent, and efficient sourcing ecosystems.
That’s exactly what Workday Procurement delivers, a unified platform connecting sourcing, suppliers, and spend analytics.
Here’s your Quick Reference Guide to Workday Procurement Terminologies 👇
✅ Requisition: Formal request to purchase goods or services.
✅ Purchase Order (PO): Document sent to a supplier detailing items, quantities, and prices.
✅ Supplier: Entity providing goods or services to the organization.
✅ Spend Category: Groups similar purchases for better analysis and management.
✅ Procurement Card (P-Card): Used for small, routine business purchases.
✅ Contract Management: Manages creation, execution, and analysis of procurement contracts.
✅ Sourcing: Identifying and evaluating potential suppliers.
✅ Invoice Matching: Compares invoices with POs and receipts for accuracy.
✅ Approval Workflow: Automates approval processes for procurement requests.
✅ Catalog Item: A pre-listed product or service in the supplier system.
✅ Blanket Purchase Order: Long-term supplier agreement for recurring purchases.
✅ Three-Way Matching: Ensures PO, receipt, and invoice align before payment.
✅ Spend Analysis: Classifies and analyzes expenditure data to control costs.
✅ Procure-to-Pay (P2P): End-to-end process from requisition to supplier payment.
✅ eProcurement: Digital management of procurement processes.
✅ Supplier Portal: Platform for suppliers to view orders and submit invoices.
✅ Workday Business Process Framework: Configurable workflow engine managing procurement processes.
✅ Workday Procurement Dashboard: Centralized analytics hub for tracking key procurement metrics.
Workday Procurement brings data, suppliers, and processes together ensuring organizations buy smarter, pay faster, and spend better.
Workday Learner Community
Master Workday Procurement, where purchasing meets process excellence
From requisitions to supplier portals, here’s your complete glossary for mastering Workday Procurement essentials.
Procurement isn’t just about purchasing it’s about building smarter, transparent, and efficient sourcing ecosystems.
That’s exactly what Workday Procurement delivers, a unified platform connecting sourcing, suppliers, and spend analytics.
Here’s your Quick Reference Guide to Workday Procurement Terminologies 👇
✅ Requisition: Formal request to purchase goods or services.
✅ Purchase Order (PO): Document sent to a supplier detailing items, quantities, and prices.
✅ Supplier: Entity providing goods or services to the organization.
✅ Spend Category: Groups similar purchases for better analysis and management.
✅ Procurement Card (P-Card): Used for small, routine business purchases.
✅ Contract Management: Manages creation, execution, and analysis of procurement contracts.
✅ Sourcing: Identifying and evaluating potential suppliers.
✅ Invoice Matching: Compares invoices with POs and receipts for accuracy.
✅ Approval Workflow: Automates approval processes for procurement requests.
✅ Catalog Item: A pre-listed product or service in the supplier system.
✅ Blanket Purchase Order: Long-term supplier agreement for recurring purchases.
✅ Three-Way Matching: Ensures PO, receipt, and invoice align before payment.
✅ Spend Analysis: Classifies and analyzes expenditure data to control costs.
✅ Procure-to-Pay (P2P): End-to-end process from requisition to supplier payment.
✅ eProcurement: Digital management of procurement processes.
✅ Supplier Portal: Platform for suppliers to view orders and submit invoices.
✅ Workday Business Process Framework: Configurable workflow engine managing procurement processes.
✅ Workday Procurement Dashboard: Centralized analytics hub for tracking key procurement metrics.
Workday Procurement brings data, suppliers, and processes together ensuring organizations buy smarter, pay faster, and spend better.
3 days ago | [YT] | 0