Digital e-procurement solutions in the B2B purchase segment help companies to achieve more consistent results, by streamlining operations and decreasing costs. They are the most widely adopted digital solutions in the industry. But do you know all the improvements that this solution can offer to businesses?
With that in mind, we have created a list with 7 benefits that companies can reap by adopting an e-procurement solution in management. Keep on reading!
1- Cost reduction
One of the best ways to optimize the management of your company is by reducing costs. With the use of an e-procurement solution, you can manage expenses and save more time in procurement operations, when compared to conventional quotation methods.
2- Process optimization
Another benefit of this kind of solution is the agility of all internal and external purchase-related processes, as everything becomes automated. The tool will take the tasks of sending requests, quotations and procurement orders, among other features.
All these functions are supported by transaction tracking, which enables the manager to monitor all activities of buyers and suppliers.
3- Safer communication process
E-procurement solutions can also be used to exchange procurement data between suppliers and buyers. The use of this technology makes communication easier and negotiation much safer, as the registration of exchanged messages is saved, thus facilitating a possible audit.
The well-controlled information flow, with substantial content, allows the collection of accurate data to check the company’s fiscal situation.
4- Increased efficiency
Quotations sent by conventional means are often much less efficient. Electronic quotation, on the other hand, avoids spending time unnecessarily in the procurement process. There are also situations when procurement orders are not placed within the deadlines and shipping / delivery dates are postponed, affecting the purchase of products and services.
In this case, an e-procurement solution can be vital to ensure the satisfactory course of the company’s logistic processes.
5- Best prices
By using this technology, supplier companies will be forced to work with more competitive prices. The offers must then include details on the proposal, along with quality and delivery terms of the product or service requested by the purchasing company. In turn, procurement professionals will have more concrete supply proposals and, at the time of deciding for the best suppliers, they will have more reliable information to make their choices.
Another benefit offered by e-procurement is security in purchase operations. The automated and safer e-procurement system helps to restrain the practice of improper actions during the corporate procurement process.
7- Strategic decisions
Using this kind of solution, procurement managers can have access to data provided by BI reporting. The metrics taken from e-procurement, for instance, help to evaluate the performance of suppliers (and even buyers themselves), analyze the achieved saving (a value needed to decrease costs effectively), improve product logistics, and enhance strategic planning.
Summing up, e-procurement solutions not only help you to optimize the procurement process itself, but also the decision-making process of your company.
Do you think e-procurement can facilitate the daily chores of your company? Then contact Mercadoe. We are leaders in technology solutions and services for B2B, and have already rendered the procurement areas of large companies really uncomplicated.