Purchase automation through e-Procurement
e-Procurement is a way to manage purchasing in an organisation electronically. This opportunity offered by digital technologies to make deep rationalization in purchase of supplies is becoming essential in competition between enterprises.
Companies that have adopted e-Procurement are seeing positive effects in reducing the costs. This has been further endorsed by numerous case studies that automation of procedures for the purchase through e-Procurement technology enables companies to achieve an average 8-12% reduction in costs of total purchases.
Benefits of e-Procurement
- e-Procurement can bring significant benefits for your organisation. Offering procurement through a simple platform ultimately saves time. In its multifaceted benefits, it can help in the simplification of purchasing, saving money and improving the entire supply line.
- e-Procurement platforms automatically ensure that all purchases adhere to the set procurement policy, reducing the opportunities for eccentric spending. This not only helps to keep spending within budget but helps to maintain good supplier relations.
- e-Procurement enhances productivity as electronic records help in the submission of reusable tenders or even filling up paperwork more quickly. It also helps in cost reduction by the prevention of duplicate spending, eliminating paper-based systems and even leveraging volume buying.