Centralized procurement refers to a systematic ordering process in which all documentation must be reviewed and approved by a “central” group of company stakeholders. In contrast to a decentralized procurement system, all purchasing actions are initiated only after passing through a streamlined process that ends with a single purchasing authority making the final decision to confirm the transaction(s). On Tradogram, a company seeking to operate with using a centralised process should do so by establishing a single branch on the system, with optional department division within that branch. Key stakeholders will be able to grant approval and review all documentation passing through the branch with through the use of approval rule configuration.
