Discover 7 benefits of an e-Procurement solution

The main objective of the e-Procurement solution is to facilitate the buyers' routine and promote smarter and more efficient purchasing management.

The digital tool automates the B2B purchasing process, from request to payment and, therefore, it is also known as a “Procure-to-Pay” solution.

By automating operational purchasing processes, the e-Procurement solution frees buyers to focus on what is strategic.

Thus, professionals spend more time on relevant topics, such as negotiations, developing new partnerships, innovation, sustainability process, among others.

With the advancement of technology over the years, e-Procurement solutions control the entire purchasing cycle, help with negotiations and allow access to real-time data for better decisions and transparency in transactions.

Below, check out how e-Procurement can impact the purchasing sector and what are the main benefits of using this tool.

Read on!

How does e-Procurement impact the purchasing sector?

For a long time, B2B purchases were carried out manually, using many spreadsheets, printed materials, little transparency and a low level of control.

In the not-so-distant past, the purchasing department's main function was to support other departments. And the buyer had to fulfill orders, even at high costs.

But to keep up with market developments and become more competitive, the department gained prominence and became one of the most important sectors for the organizations' results.

This increase in the importance of the area has resulted in the need for companies to seek technologies that promote automation of operational activities, control and management in a single environment.

And companies are increasingly relying on digitalization to achieve savings, agility, collaboration and compliance.

7 benefits of e-Procurement for the purchasing area

1. economy

With e-Procurement, it is possible to have better visibility and control of purchasing area expenses, in addition to having access to data and insights that contribute to financial planning.

The increase in productivity of buyers, who are more dedicated to sector strategies, can also be considered an important factor in generating more profits for businesses.

Another benefit in relation to the economy is the possibility of negotiating more intelligently and achieving more savings, with automated comparison of your suppliers' proposals, analysis of purchasing history, closing of new contracts, quotes with new supply sources, among others.

2. Process optimization

The e-Procurement solution allows you to streamline all internal and external processes related to purchases, efficiently and securely.

Through digitalization, the procurement cycle is automated, which reduces lead time in purchases (total time) and reduces the chances of errors, delays and rework.

The tool is responsible for automating the entire purchasing cycle, from requisitions to orders, allowing real-time control and monitoring of 100% of processes.

3. Secure communication

In day-to-day purchasing, there is a constant exchange of information between buyers and suppliers, for example, when negotiating and closing an order.

To streamline this process, e-Procurement centralizes communication and records all interactions with suppliers, increasing transparency and purchasing compliance.

The use of this technology not only facilitates communication, but also makes transactions with partners much safer, allowing processes to be traceable and auditable.

4. Greater efficiency

Quotations sent by email are less efficient than quotations made in an e-Procurement solution, mainly because they involve several steps and approvers until the purchase is completed.

There are also situations in which purchase orders are not made within the deadline, and shipping and delivery dates are delayed, even impacting the end consumer.

In cases like these, the e-Procurement solution can be essential to ensure the satisfactory development of the company's logistics processes and, consequently, reflect on the satisfaction of its customers.

5. Best prices

With e-Procurement, companies increase their chances of achieving more competitive prices, as the platform allows them to negotiate with several suppliers at the same time.

Furthermore, it is possible to include suppliers that are part of Marketplaces, such as Mercado Eletrônico, which has more than 1 million companies, in the quotation processes.

All proposals are delivered in a single environment and can be viewed on a comparative map, which automatically compares all quotes received and suggests the best offer, facilitating decision-making.

6. Risk reduction

Creating and sustaining alliances with reliable suppliers is synonymous with competitive advantage. Today, the ESG (environmental, social and governance) is an essential aspect of purchasing.

With the e-Procurement solution, integrated with SRM (Supplier Relationship Management), it is possible to analyze whether suppliers meet the legal and technical requirements demanded by internal regulations and standards.

This procedure minimizes the risks associated with the supply chain and its negative impacts on the business, mainly related to reputation and brand image.

7. More strategic decisions

For the purchasing area to generate real results for companies, it is necessary to work with KPIs well defined, such as delivery level, lead time, price evolution, savings, among others.

Through e-Procurement, purchasing professionals monitor metrics and can, for example, evaluate supplier performance, team productivity, savings achieved, etc.

In this link, we have made available a free infographic from Mercado Eletrônico with the 7 most important KPIs for the purchasing area. Download it now!

Now that you know some of the benefits of e-Procurement for strategic purchasing management, request a free demonstration of our platform for your company.

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