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Much is being said about digital transformation in B2B. Businesses are running out of time to adapt to this new reality, and avoid losing their shares in the market.

According to recent data from Forrester Research, B2B e-commerce accounted for US$ 889 billion in the market. And the number is expected to reach a staggering US$ 1.8 trillion by 2023.

This shows the urgency of the procurement area to innovate and use digital tools, in order to achieve better results with excellence, productivity and transparency.

Calm down, though! There is no need to worry about time and money, as there are alternatives to start digitizing without high investments and concerns. And one of them has already a name: Order Management.

 

What is Order Management?

Order Management is a system that automates and streamlines order processing in a simple and centralized way.

Through this powerful tool, buyers and suppliers can access and control all information related to the order’s life cycle, reducing the well-known procurement backlog. The platform can be integrated to any ERP, and provides important functions such as:

  • Order regularization
  • Approval according to company rules
  • Metrics and spend for every order
  • Order confirmation and fulfilment
  • Physical and fiscal receipt
  • Spend analysis

Last but not least: Order Management is indispensable to improve and strengthen relationship between buyers and suppliers.

 

Order Management – the first step of Digital Transformation

Those who fear digitization are afraid mainly of the pressure of time and high investments. But unlike many people think, Digital Transformation of the procurement area can begin gradually and in a scalable way.

Order Management can be the first step in this transition. With zero investments and up to 8 weeks of deployment, you can have a tool that promotes cost and operational process reduction, along with control and closer partnerships in the supply chain.

 

Benefits to the buyer

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In addition to offering the benefit of a first step for Digital Transformation, the deployment of an Order Management tool offers also the four most important pillars of the procurement area: savings, agility, collaboration and governance.

When comes to savings, the tool analyzes purchase spend, avoids the increase of acquisition cost by contract leaks, leverages the intellectual capital and decreases operational costs of procurement by up to 30%.

In terms of agility, the solution automates and tracks the entire cycle, from order to receipt, ensuring high efficiency in all processes.

As to collaboration, the tool monitors all interactions that occur in the orders, providing great improvement in the communication between suppliers and buyers.

Finally, in governance, centralizing and standardizing all orders ensure process compliance and audits.

And these are just some of the benefits of the solution, which can bring significant results in the short term.

 

And it has benefits for the supplier as well

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In Procurement, it is very common that solutions are designed to offer benefits to the buyers, often leaving the needs of suppliers in the background.

And this is one of the great distinguishing points of Order Management. The innovative solution do offers benefits to the buyer, but to the supplier too – who has then the chance to work in a platform that provides transparent and enriching relationships.

Check out the most outstanding benefits:

  1. Increased sales, with access to potential buyers and several quotations;
  2. Sales cost reduction;
  3. Transparency and security;
  4. Financial vision of sales;
  5. Possibility of integration, to receive the order in the ERP directly.

 

And what to take into account when choosing a tool?

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As we are talking about technology, it’s important to focus on some points when choosing an Order Management solution:

  • Trust
  • Stability
  • Dedicated support
  • Confidentiality
  • Integration

Click here and check out the importance of all these factors in another post of our blog.

Order Management is revolutionizing the procurement area. Start your digitization process with a market leading solution that can deliver technological innovation, with tangible results.

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