E-Procurement stems from the same genre of business as regular Procurement does. It deals with acquisitions and purchasing, with evaluations and negotiations and with streamlining business – the only difference being that E-Procurement takes place in the electronic world. With a rise in those with online access and the internet spreading across the entire globe it is becoming more and more obvious everyday that E-Procurement is the way to move forward into the future. With technology driving this change all we can do is comply and accept that the goal is to make our lives easier overall – and to try to keep up with it, of course!
1. E-Procurement Software Can Make You Money!
With the constant updating and developing of E-Procurement software Business to Business (B2B) transactions have never been easier – or more streamlined. The software is used as an added boost to an already skilled E-Procurement team and can wield massive results. The Hackett Group, for example, found that with the introduction of the software compliance to contracts increased a whopping 20% on average, you can read more about the numbers here.
2. E-Procurement Software Can Save You Millions!
The brilliant and ingenious software can also monitor cash flow in your company, making it much easier to streamline spending than it has ever been in the past.
3. E-Procurement Saves Time!
Without the traditional methods of having to send cheques in the mail, you do not need to wait for weeks for contracts to be delivered and you can exchange all the information you need to in one email. There is also a wider marketplace on the internet than you would find by physically visiting a city to source goods. This essential time saving frees you up to do more important things and is only set to increase over the years. You can read about the benefits of E-Procurement over regular Procurement here.
4. In the Future It May Be Done by Robots!
It’s true! The more we turn digital the more likely it becomes. An AI would know the difference between a good deal and a bad one and act accordingly. How? Through machine learning! It’s a genuine theory, and you can read more about it here.
5. The E-Marketplace is Worldwide!
Benefits of E-sourcing have soared in recent times – but none so much as the ability to access the largest Marketplace in the whole world. Anything you want can be bought online – a good Procurement Manager just has to find it!
6. Governments are Switching to E-Tendering!
Governments are slowly waking up to this phenomena and are switching to E-tendering over manual tendering, making Business to Government E-Procurement even easier!
7. E-Procurement Leaves Less Margin for Error!
When compared to normal Procurement Services E-Procurement is more streamlined and leaves less room for human error. Soon this will be the way all transactions are processed…Just watch this space.
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