What is Procurement and Sourcing in Dynamics 365 Finance?

Procurement and Sourcing in Dynamics 365 Finance is a business process area used to manage an organization's purchasing activities, suppliers, purchase requisitions, requests for quotations, purchase orders, and related procurement processes. It helps organizations standardize purchasing workflows, manage vendor relationships, control procurement policies, and improve visibility into purchasing spend. It can also integrate with inventory, accounts payable, budgeting, and financial processes.