What are the four pillars of an e-Procurement solution?

Puzzle represents the four pillars of e-procurement

 

Puzzle represents the four pillars of e-procurement

O procurement plays a fundamental role in companies and faces complex challenges, mainly related to the need to reduce costs and the productivity of buyers.

To make the purchasing area more strategic, it is necessary to free buyers from manual, bureaucratic and decentralized work.

By opting for an e-Procurement solution, which centralizes and automates the entire purchasing flow, on a single platform, professionals gain more time to dedicate oneself to growth strategies of business.

In addition to ensuring a significant competitive advantage in the market, optimizing the purchasing process helps maintain good collaboration with suppliers and strengthen governance corporate governance.

In this post, we’ve outlined four pillars for an e-Procurement solution, so you can understand how to centralize and improve processes in your company. Check it out!

4 pillars of e-Procurement:

1. economy

The purchasing sector is extremely important for the economy and profitability of companies. Therefore, having an e-Procurement solution, which allows real-time visibility of purchases, is an option for control expenses gives area and create strategies short, medium and long term.

Reduced operating costs

The operational, decentralized and bureaucratic methods of the area prevent more strategic action on the part of buyers. An e-Procurement solution can, at the very least, reduce 50% of operating costs of the entire process, as it frees up professionals to plan purchases and control the company's expenses.

Savings monitoring

One of the main benefits of e-Procurement for reducing companies' costs is related to the increase in price negotiation power with suppliers to achieve more savings. This economy indicator can be used by buyer, region, category or purchasing group, for example, and contribute to more economical and strategic negotiations.

Analysis of expenses and savings potential

The vision of Spend Analysis in an e-Procurement solution helps organizations to avoid, recover and reduce travel costs with suppliers. Having access to spending history helps not only in selecting suppliers, but also in gaining knowledge about the how much can be saved in new hires.

2. Agility

Without the use of an intelligent tool, the purchasing journey takes longer due to high demands, emails, spreadsheets and documents, which can significantly harm the company's results. With an e-Procurement solution, purchasing management is automatedMore fast, safe centralized, without requiring effort on the part of buyers.

Automation of purchasing processes

Instead of thousands of email exchanges, process automation concentrates the entire purchasing cycle on a single platform, from request to payment. With this, managers can have a broader and more integrated vision of operations. All in real time.

Reports for quick decision making

business The intelligent part of an e-Procurement solution extracts information and converts it into comprehensive reports that help professionals track the performance of the area and make faster and more assertive decisions. With the accurate measurement of data and information, the purchasing area gains even more prominence in companies.

Rapid implementation and easy access

Because it is a cloud-based solution, it does not require installations and is always kept up to date. In addition, the solution can be accessed from any time and place — on the computer, smartphone or on another device with internet connection Internet. This means that managers and buyers can keep track of everything even during coffee breaks.

3. Governance

Corporate governance and purchasing must go hand in hand, in the ongoing search for ethical and responsible corporate action. In this sense, an e-Procurement solution promotes more transparency in the acquisition processes and allows you to check whether suppliers are in compliance with corporate integrity rules and good practices.

Reducing risks in the supply chain

Creating and maintaining alliances with reliable suppliers is synonymous with competitive advantage. With an e-Procurement solution, it is possible to analyze whether suppliers meet the legal and technical requirements required by internal regulations and standards. This procedure minimizes risks related to the supply chain and its negative impacts on the business.

Access to purchase history

Having access to a repository of information, such as quotes made and amounts paid for recent acquisitions, can facilitate purchasing department planning and future negotiations. It also helps identify flaws and then suggest improvements for the company.

Transparent, registered and auditable processes

The e-Procurement solution allows buyers, managers and auditors to analyze activities related to purchases and negotiations made through the platform. Recording all actions in a single environment, in addition to speeding up the execution of tasks for those involved in the purchasing cycle, makes the area's processes more transparent and auditable.

4. Collaboration

A good relationship with suppliers strengthens relationships, generates trust and enables better negotiations (i.e., it is beneficial for both parties). For this to happen, it is essential that there is collaboration between buyers and suppliers.

Communication with suppliers

In a collaborative environment, the e-Procurement solution creates an agile, clear and efficient communication channel between those involved in the purchasing process. In this way, communication with suppliers is optimized and monitored, and can be carried out at any time, place and moment, including via cell phone.

Monitoring purchasing stages

With an e-Procurement solution, requesters, buyers and suppliers can easily search for the status requests and monitor the entire purchasing cycle, from the start of negotiations to the delivery of the material or service. This can facilitate the anticipation of information for the progress of purchases.

Supplier management

The e-Procurement solution enables the monitoring of performance of suppliers, in addition to showing all processes associated with business partners. Collaboration exists since supplier performance indicators, as well as evaluations, can be shared and used to create action plans.

Now that you have seen the main pillars of e-Procurement, learn how our solution can help transform your company's purchasing processes. Access Our site and ask our experts for a free demonstration.

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