What is e-sourcing? How to use it in your company?

The procurement area is constantly challenged to decrease the total purchase cost. But having the lowest price isn’t enough. After all, you must also care for the quality of products and services, as well as improve the efficiency of procurement processes. And that’s where e-sourcing comes in!

What is e-sourcing?

It’s an on-line platform that allows businesses to complete the procurement process using the best negotiation practices for each supply category. Instead of quoting prices individually, with multiple suppliers, e-sourcing unifies the process and enables buyers to make better, assertive and cost-saving decisions. It’s worth stressing that this is a fair and transparent process, as the participating suppliers are fully aware of competition among them.

 How is e-sourcing used by procurement professionals?

E-sourcing rationalizes the information search process, along with supplier selection. It optimizes price quotation work, decreases values, maximizes healthy competition, and creates a repository for information searches, allowing you to import and export them from your supply sources. In other words, when buyers use e-sourcing, negotiations become easier, faster and more transparent.

Which companies can use e-sourcing?

Companies of any size and segment can have this tool, in order to plan procurement demands and ensure more agility, quality and competitive prices.

Do you think that e-sourcing can make the daily chores of your company easier? 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.

Click here to request a demo; or talk to one of our experts!

See also how the procurement area can be more strategic.