The Advantages of e-Procurement

October 25th, 2016

The challenges and implementation made easy in working with an e-procurement company.

 

Today’s post is written by Heather Powell, Director of Customer Service & Project Manager at SafeSourcing Inc.

It is not easy to implement e-procurement and it can have its challenges; additionally, it takes time for business managers and procurement departments to fully accept it. However, with SafeSourcing as your partner, we can show you the advantages of e-procurement and make the transition to e-procurement much smoother by the following:

Reducing Costs

Costs can be reduced by leveraging volume, having structured supplier relationships and by using system improvements to reduce external spend while improving quality and supplier performance1. E-procurement eliminates paperwork, rework and errors1.

Visibility of Spend

Centralized tracking of transactions enables full reporting on requisitions, items purchased, orders processes and payments made1. E-procurement advantages extend to ensuring compliance with existing and established contracts1.

Productivity

Internal customers can obtain the items they want from a catalogue of approved items through an on-line requisition and ordering system1. Procurement staff can be released from processing orders and handling low value transactions to concentrate on strategic sourcing and improving supplier relationships1.

Controls

Standardized approval processes and formal workflows ensure that the correct level of authorization is applied to each transaction and that spend is directed to draw off existing contracts. Compliance to policy is improved as users can quickly locate products and services from preferred suppliers and are unable to create maverick purchases1.

Using technology

E-procurement advantages can only be fully realized when the systems and processes to manage it are in place1. Software tools are needed to create the standard procurement documentation: electronic requests for information (e-RFI), requests for proposal (e-RFP) and requests for quotation (e-RFQ)1.

These are proven methods to source goods and make the framework agreements that offer the best prices. For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

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References: 1) http://www.purchasing-procurement-center.com/e-procurement-advantages.html

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